E-insurance drive: 5 firms to operate as repositories

Our Bureau Updated - March 12, 2018 at 09:20 PM.

You will now have an opportunity to digitise you insurance policies.

The Insurance Regulatory and Development Authority (IRDA) has permitted five firms to operate as repositories.

According to a circular, NSDL Database Management Ltd, Central Insurance Repository Ltd, CAMS Repository Services Ltd, SHCIL Projects Ltd and Karvy Insurance Repository Ltd can operate as insurance repositories till July 31, 2014.

E-mode option

The insurers can now tie up with any one or more of these entities, to offer policyholders the option to keep their policies in the electronic mode.

The e-insurance accounts would be maintained with a unique number, records of e-insurance policies issued and converted back into physical form and an index of policyholders, among others.

>naga.gunturi@thehindu.co.in

Published on September 4, 2013 16:32