Benefits of E Insurance Account

Safety: Eliminates risk of Loss/ Damage of Policy Document due to any natural disaster or theft.

Free of Cost: There will be no additional changes for opening a electronic Insurance Account.

Convenience: The details of any of the policies held with any insurance company can be accessed at any time by logging on to the online portal of insurance Repository.

Single point of Service: A single change of address request made to the Insurance Repository can update the policies issued by multiple insurers. There would be no need to go to several offices of individual insurers for service.

Less Paper Work and Savings in Time: An E-insurance account holder is freed from the trouble of submitting KYC details each time a new policy is taken. Further, any changes in personal details like address or contact number can be effected through a single request thus saving on paper and time.

Statement of Account: At least once every year, the insurance repository would send a statement of account to the E-Insurance account holder with the details of the policies held across all insurance companies of the account holder.

Payment Options: Premium for all the policies can be paid online and several service requests can be logged from the E-insurance account.

Increased Number of Service Touch Points: Since, the insurance repositories function in addition to the insurers, the policy holders will have increased number of touch points for having their servicing needs attended.

Easy Payout Transfers: Policy benefits would be paid through electronic facility to the registered bank account, thus ensuring speedier and convenient settlement.

Single View: Single view of all policies will be made available to an authorised person in case of death of the E-Insurance account holder.