### 📈 IRCSL Launches Nationwide Digital Motor Insurance Card

The Insurance Regulatory Commission of Sri Lanka (IRCSL), in collaboration with the IASL and Sri Lanka Police, has officially rolled out the country’s first fully digital motor insurance verification system, effective 1 May 2026. • Key Transition: The system replaces physical plastic cards with a paperless, real-time verification platform for motorists and law enforcement, marking a significant step in the ICT/BPM integration within the financial services sector. • Verification Channels: Policy status can be validated instantly via: Hotline: Dialing 1338 SMS: To 1338 USSD: Dialing 1338# • New Payment Model: The launch coincides with a tightening of credit practices. The current 30–90 day credit period for policies will be reduced to 30 days starting 1 May, eventually phasing out to a "Cash-before-Cover" model. • Economic Impact: This move aims to strengthen industry discipline, reduce operational costs associated with printed materials, and align the insurance sector with global standards for digital governance and transparency.