What is an e-Insurance Account or eIA?
e-Insurance Account or (eIA) is an electronic insurance account opened by a person with an insurance repository wherein the insurance policies of a policyholder are held in an electronic form.
It is a simple, yet effective way to manage life insurance policy/policies. This feature, introduced by the Insurance Regulatory and Development Authority of India (IRDAI), helps the policyholder store and access policies in a digital format, and be able to access it anytime and from anywhere. Furthermore, in this single account the policyholder can store all their insurance policies, and access them whenever they may need. All this is free of cost.
Each e-Insurance Account has a unique account number, log-in ID and password, thereby ensuring the account access is available only to a single policyholder.
What are the benefits of e-Insurance Account?
- No risk of loss or damage as is common with paper policies
- Provides alerts on transactions/modifications
- Anytime/anywhere access to digital policy/policies
- Single view for all policies
Less Paper work:
- Submit KYC documents only once for all your insurance policies
How do you open an e-Insurance Account?
IRDAI has provided the Certificate of Registration to certain entities to operate as Insurance Repositories (IR) that are authorised to open e-Insurance accounts for customers. To open an e-insurance account, you can make a request directly to any one of the following four IR entities or to Bajaj Allianz Life:
M/s CAMS Insurance Repository Services Limited
M/s NSDL Database Management Limited
M/s KARVY Insurance Repository Limited
M/s CDSL Insurance Repository Limited
How do New Customers open an e-Insurance Account?
•At the time of purchasing a new policy through digital journey you need to simply provide your consent in the e-Insurance Account portion of the new business application form.
•For physical journey you need to submit a separate application form for e-Insurance Account along with new business application form.
•Once e-Insurance Account is created, the chosen Insurance Repository will send details to you via email. Bajaj Allianz Life will not send any email with these details.
•In case you already have an e-Insurance Account, you need to mention the e-Insurance Account details at the time of submitting new business application form.
Existing Policy Holders
As an existing policyholder if you wish to open an e-Insurance Account, all you need to do is send an email request to Customer Care from your registered email ID.
Forms and Guidelines
e-Insurance Account application forms: