eIA stands for e-Insurance Account i.e. “Electronic Insurance Account” which will safeguard the insurance policy documents of policyholders in electronic format. This eIA account will facilitate the policyholder to access his all insurance portfolio at a click of a button through internet.
Benefits of eIA
- No more physical policy documents
- View and manage all your life insurance policies under a single account
- Once KYC documents are submitted and eIA is opened, KYC documents not required for purchase of new life insurance policies
- Changes in contact details get auto updated in all your policies across all life insurers
- Opening eIA is free
IRDA has granted the Certificate of Registration to the following four entities to act as 'Insurance Repositories' that are authorized to open e-Insurance Accounts.
- NSDL Database Management Limited
- Central Insurance Repository Limited
- Karvy Insurance Repository Limited
- CAMS Repository Services Limited
Apna Sewa Kendra has associted itself with Karvy Insurance Repository Limited.