E-Repository Insurance Account

What is Electronic Insurance Account (EIA) ?

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.

Key benefits of an eIA:

  • Elimination of maintaining the physical policy documents
  • Zero eIA account opening charges
  • Access to details of your life insurance policies under a single account
  • Once KYC documents submitted and eIA is opened, KYC documents not required for purchase of new life insurance policies
  • Any changes in contact details in eIA will automatically get updated in all your policies across all life insurers maintained under eIA

What is Insurance Repository?

"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.

Insurance Repositories are as under:-

  • NSDL Database Management Limited

To know more about Electronic Insurance Account & Insurance repositories please check FAQ.