E-insurance account (eIA) opening: Documents needed, other key details to know

An e-insurance account is a digital platform introduced by Irdai to store and manage all insurance policies in one place electronically. It eliminates the need for physical copies, simplifying renewals, claims and updates. Opening and maintaining an eIA is free. Here’s how to get started.

Insurance repositories
The first step is selecting an authorised insurance repository. Currently, Irdai has approved the following:

• NSDL National Insurance Repository.
• CAMS Repository Services.
• Karvy Insurance Repository.
• Central Insurance Repository.

eIA application
The eIA application form can be found on the repository’s website or with an insurance provider. Fill in the necessary information, including personal, contact and nominee details.

Documents

• Submit the completed application form along with these documents:
• Identity proof (Aadhaar,PAN, passport).
• Address proof (utility bill,driving licence).
• Passport-sized photograph.
• PAN card or Form 60, as applicable.

Submission and activation
The form, along with documents, can be submitted either online, or at the repository’s office, or through an insurer tied to the repository. Once the repository verifies the application, it will activate the account and provide log-in credentials.

Managing policies
Once activated, the account holder can link existing policies and receive new policies directly in the e-insurance account. The platform also allows policy updates, premium tracking and faster claim processing.

Content courtesy Centre for Investment Education and Learning (CIEL).
Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.