The eIA ensures that the policies are in safe custody and can be easily accessed.
Digitisation is a boon for us all, even the insurance industry, as it has bridged the gap between the insurer and the insured by a few clicks. It has also eased the process of claims and settlements. One of the biggest gifts of digitisation to the insurance industry, especially the customers, is an e-insurance account (eIA).
The unique service product was launched by the Insurance Regulatory Development and Authority of India (IRDAI) in 2013. In simpler terms, eIA is a database of all insurance policies for an insured. The advantages of an eIA is much more than what meets the eye. Before getting into the details, we must find out how to actually open an eIA. Any individual can create an account with an insurer or insurance repositories. IRDAI has granted the following insurance repositories to open an e-insurance account;
NSDL Database Management
Central Insurance Repository
Karvy Insurance Repository
CAMS Repository Services
Next, let us delve into its benefits. The main objective of creating an insurance repository is to provide the policyholders with a facility to hold policies in an electronic form and to undertake changes in the insurance policy with speed and accuracy.
An eIA allows policyholders to access their insurance (life, general and health) portfolio at a single place digitally, that too from different insurers. Besides this, it offers several other benefits like no more preserving of physical policy documents and viewing and managing all insurance policies under a single account. Maintaining the physical policy document has always been a pain and an eIA eases the very pain, making it a stressfree experience.
هذه القصة مأخوذة من طبعة August 2019 من Outlook Money.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة August 2019 من Outlook Money.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Stay Ahead Of AI-Powered Cyber Fraud
AI has become an integral part of our lives, right from customer service at banks to insurance claims. But it has now become a powerful arsenal for the fraudsters too who are increasingly using AI to scam individuals and corporations alike to commit fraud. The key is to stay vigilant
Travelling To Europe? Pack In The Essential Covers
Smart travellers must know that insurance is a must-have. From essential health coverage to theft protection and trip interruptions, know what you need for a worry-free Europe trip
How To Spend Wisely This Year-End
We all spend during the year-end. But the trick is not to overspend or borrow, either from friends, or your own investment, to fund your indulgence. Maintaining balance is the key
Travel Now Pay Later (TNPL)
Travel now, pay later (TNPL) is a close cousin of the more popular buy now, pay later (BNPL) schemes.
12 Books Devina Mehra Loved Reading In 2024
Listing books of her choice, among the ones she reads during the year, is ace investor Devina Mehra's favourite year-end activity. She says it's a daunting task to pick around 12 books from a list of 50.
Here's How To Avail Of Ayushman Bharat Yojana
Launched in 2018, the Ayushman Bharat Yojana aimed to provide health coverage to targeted benefi ciaries from the Socio-Economic Caste Census (SECC) 2011, based on deprivation and occupational criteria.
'Focus On The Business, Assess If You Want To Be A Partner For 10-20 Years'
Professor Sanjay Bakshi, a value investor, behavioural economist and adjunct professor at Flame University, Pune, gives his unique perspective on how to choose a stock, in an interview with Nidhi Sinha, editor, Outlook Money, as part of the Wealth Wizards series. He also shares his learnings from role models Warren Buffett, Charlie Munger, Benjamin Graham and others, and how being a chartered accountant, economist, investor and teacher make him into what he is today. Edited excerpts from the interview
The New Trump Card For IT, Pharma
Donald Trump has been re-elected as the 47th President of the US after a gap of four years. Here's how it will affect the Indian markets and how it will benefit sectors such as IT, pharma, export-oriented sectors and others
European Sojourn
Tight on budget? Dump the popular European destinations for the little-known wonders that are equally attractive
Gold ETFs And FoFs
While Indians love to invest in physical gold, even mutual funds offer the option, but in paper format.
