EIA means e-Insurance Account or "Electronic Insurance Account" which facilitates maintaining the insurance policies of multiple insurers in electronic format under single electronic account maintained by a Insurance Repository. Under this initiative you can have access to the insurance portfolio at a click of a button through internet.
"Insurance Repository" is a company formed and registered under the Companies Act, 1956 (1 of 1956) and which has been granted a certificate of registration by Insurance Regulatory and Development Authority (IRDA) for maintaining data of insurance policies in Electronic form on behalf of Insurers. The Insurance Repositories provide the ease of holding insurance policies issued in an electronic form.
To know more about Electronic Insurance Account & Insurance repositories please check FAQ.