Starting April 1, 2024, new INSURANCE policyholders will be required to hold insurance policies in electronic format. Similar to how investors hold shares in a D-Mat account, all your insurance policies — life, health, and general insurance policies — will be kept in one place with an e-Insurance Account.
Opening an e-Insurance Account is simple and free. You can easily view, maintain, and update details of your policies through your e-Insurance Account. Choose from any of the four repositories – CAMS Insurance Repository, Karvy, NSDL Database Management (NDML) and Central Insurance Repository of India to open your account. The insurer will bear the cost of opening your e-Insurance Account on your behalf.
It’s important to note that there will be one eIA for all your insurance policies. While you still have the option to receive policy documents in physical format, this rule is only applicable when you buy new insurance policies.
