CharterMeNow
  • Home
  • Auto
  • Business
  • Education
  • Fashion
  • Finance
  • Health
  • Law
  • Technology
  • Travel
Friday, May 30, 2025
chartermenow@gmail.com
  • Home
  • About Us
  • Write For Us
  • Privacy Policy
  • Our Authors
  • Contact Us
  • SiteMap
CharterMeNow
CharterMeNow
CharterMeNow
  • Auto
  • Business
    • Crypto Currency
    • Freelance
    • Job
    • Marketing
  • Education
  • Finance
    • Investment
    • Trading
  • Food
  • Health
    • Body Building
    • CBD
    • Dental Care
    • Skin Care
    • Vape
    • Weight Loss
  • Home
    • Cleaning
    • Furniture
    • Packers & Movers
    • Pest Control
    • Plumbing
    • Real Estate
    • Roofing
  • Law
  • Technology
    • Application
    • Crypto Currency
    • Gadgets
    • Gaming
    • Graphic Design
    • Hardware
    • SEO
    • Social Media
    • Software
  • Travel
Home » Be Smart and Witty: Go for E-Insurance
Finance

Be Smart and Witty: Go for E-Insurance

Naman Sanghavi
March 19, 2018Naman SanghaviFinance2.24K views
posted on Mar. 19, 2018 at 11:29 am
2.24KViews

Post purchasing Car Insurance policy there would be hundreds of questions playing around your mind. Keep calm and learn the art of e-Insurance. Let’s find out how.

Finally, happy days are here, from October 1, 2016, the Indian insurance industry is all set to welcome the digital technology of e-Insurance. Now that India has already moved towards a digital platform for most of the sectors, it won’t anymore be a head-breaking storm for you guys while buying your health, life, bike or car insurance policies. Keep calm and avoid the hassles of paper transaction, while you still compare and buy your car insurance policy, by opening your e-Insurance Account.

Buying and selling of shares had become easier with the introduction of Demat accounts. Similarly, maintaining all your policies whether it be bike, car, health, travel, life or term insurance would now be easier with just one digital file i.e. the e-insurance Account (eIA)

What is E-Insurance Account?

E-Insurance or Electronic Insurance Account is just like a Demat Account where all your policy documents are held safely in an electronic format. The IRDA has issued guidelines for issuing the policy documents in a de-materialized form to avoid the cost and ensure swift modifications from October 1, 2016. This will also keep the fraudulent activities away.

How to open this account

You compared car insurance policies from at least 5 to 6 insurers, you narrowed down your choice and bought the plan that you liked. Now is the time when the e-insurance Account comes into the picture.

The IRDA has appointed 4 repositories currently like CDSL Insurance Repository Limited (CDSL IR), Karvy Insurance Repository Limited, National Insurance-policy Repository by NSDL Database Management Limited, and CAMS Repository Services Limited who would manage all your insurance policies data in an electronic format on behalf of the Insurer.

All that you need to do is as follows:
  • Choose any one of the above-mentioned repositories
  • Download the eIA form from the repository’s website or the Insurer’s website
  • Fill and submit the eIA form along with the KYC documents like photo id, any valid address proof and your recent photograph to the Repository’s or the Insurer
  • The repository/insurer will then verify the eIA form and process the application
  • The repository will open your eIA and send the login id and password on the contact number and email id provided while filling the form
  • Your eIA will get activated within 7 business days and you can now link your existing insurance policies here.
The Benefits of E-Insurance

Effective from October 1, 2016, IRDA has made it mandatory for all the insurance seekers to open an eIA account. Each policyholder can have only one eIA, though multiple policies can be linked to just one account.

1. Absolutely free:

You don’t have to shell out any bucks for opening the e-Insurance account. It is absolutely free.

2. Safety:

There is no fear of loss or damage of your physical policy copies since they are safeguarded in an electronic format and can be accessed easily whenever and wherever needed.

3. Say goodbye to paperwork:

You will now be free from the tension of submitting the KYC details time and again while buying or renewing your policies. Remember, you have already provided all the KYC details while opening your e-Insurance Account.

4. Convenience:

You can now maintain and view all your insurance policies – be it life, health, car, bike, term or travel – under one roof.

5. Ease to pay:

You can now pay the premiums for your various types of general insurance policies in a timely manner here.

6. Account statement:

Once a year the repository would be sending the statement of your e-Insurance Account to the account holder.

7. Efficiency:

Maintaining an e-Insurance Account will help in maintaining transparency and more efficiency.

8. Modification:

Modifying personal details like contact number, address, nominee details can be now done easily.

Though this technology might take a little longer to reach the rural areas, we would recommend our readers to welcome the e-Insurance technology wholeheartedly and make the most of it.

Tags:Car Insurance policyDemat Accountgeneral insurance policiesIndian insurance industryInsurance policies
tweet
Share on FacebookShare on TwitterShare on LinkedInShare on Email
Naman SanghaviMarch 19, 2018
previous article

FrankbyDesign Is a Design Studio Designing and Supplying Images for Sales

next article

5 Home Fixtures You Should Upgrade Now

Leave a reply

Leave a Reply Cancel reply

You must be logged in to post a comment.

You Might Also Like

FinanceInvestment

Understanding the Credit Union Alliance by Meridian Trust Federal Credit Union

Sophia PrestonSophia PrestonJanuary 13, 2024FinanceInvestment1.41K views
1.41K
read more
Salaryman's Guide to Investing Building Wealth with a Demat Account
FinanceTrading

Salaryman’s Guide to Investing: Building Wealth with a Demat Account

Corey FloydCorey FloydDecember 29, 2023FinanceTrading1.2K views
1.2K
read more
Demystifying Demat Accounts your Easy Guide to Futures Trading
Trading

Demystifying Demat Accounts: Your Easy Guide to Futures Trading

Ewan BuckleyEwan BuckleySeptember 5, 2023Trading1.47K views
1.47K
read more
Finance

What Is the Best Way to Invest in Gold?

Naman SanghaviNaman SanghaviJanuary 6, 2022Finance1.12K views
1.12K
read more
load more

Find Us on Socials

Categories

Find Us on Facebook

Popular Views

Which Swimming Pool Winter Cover Should You Buy?

January 24, 2022

How Good Saving Habits Promote Financial Independence

November 14, 2018

5 Ways You Can Get Emergency Cash to Help Pay off Debt

April 4, 2020

5 Reasons to Hire the Best Private Investigators

March 30, 2021

Archives

Editors’ Picks

Technology

Health

Fashion

Travel

Weekly Posts

Tips on How to Cadillac Rainbow Flowers that Suits You
CBD

Tips on How to Cadillac Rainbow Flowers that Suits You

Ewan BuckleyEwan BuckleyMay 23, 2025CBD69 views
69
A Comprehensive Guide to the Texas Student Loan Landscape

A Comprehensive Guide to the Texas Student Loan Landscape

April 7, 2025
10 Best Practices for Maintaining Pressurised Tanks in Industrial Settings

10 Best Practices for Maintaining Pressurised Tanks in Industrial Settings

March 17, 2025

How to Set Up a Business in UAE and Expand Globally

March 4, 2025

Recent Posts

  • Tips on How to Cadillac Rainbow Flowers that Suits You
  • A Comprehensive Guide to the Texas Student Loan Landscape
  • 10 Best Practices for Maintaining Pressurised Tanks in Industrial Settings
  • How to Set Up a Business in UAE and Expand Globally
  • How to Improve Your Dog’s Digestive Comfort

Charter Me Now is a blog that is dedicated towards providing informative articles or blog posts on different niches or categories namely, Auto, Business, Education, Finance, Health, Home, Technology, Travel, etc. Our blog is managed and run by a team of experienced experts and bloggers, with the main aim of sharing new and relevant information with our readers from across the globe.

Quick Links

May 2025
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031  
« Apr    

Recent Posts

Tips on How to Cadillac Rainbow Flowers that Suits You

Tips on How to Cadillac Rainbow Flowers that Suits You

May 23, 2025
A Comprehensive Guide to the Texas Student Loan Landscape

A Comprehensive Guide to the Texas Student Loan Landscape

April 7, 2025
10 Best Practices for Maintaining Pressurised Tanks in Industrial Settings

10 Best Practices for Maintaining Pressurised Tanks in Industrial Settings

March 17, 2025

How to Set Up a Business in UAE and Expand Globally

March 4, 2025

© Copyright 2025 chartermenow.com | All Rights Reserved

  • Home
  • About Us
  • Privacy Policy
  • Write For Us
  • Our Authors
  • Contact Us
  • SiteMap