e-Insurance Account

e-Insurance Account is a platform offered to policyholders to store all their policies in a digital format. This is maintained by an insurance repository which stores it in an electronic format. In addition, the repository acts as a single stop for several policy service requirements.

This e-Insurance Account will facilitate the policyholder by providing access to the insurance portfolio at a click of a button on the internet.

Each e-Insurance Account will have a unique account number and each account holder will be granted a unique login ID and password to access the electronic policies online.

The eIA services were launched in 2013 by former finance minister P Chidambaram. This is touted as the first such service in the world. It is estimated that insurers could save almost Rs 100 crore annually from this initiative.

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