Insurance Regulatory and Development Authority (IRDA) has introduced E-insurance in the insurance sector The IRDA has informed that as on date the Authority has granted certificate of registration to five entities to dematerialize insurance policies and store them in an electronic form. These are:

i. NSDL Database Management Limited

ii. Central Insurance Repository Limited

iii. SHCIL Projects Limited

iv. Karvy Insurance Repository Limited

v. CAMS Repository Services Limited

Currently the above mentioned Repositories are opening electronic insurance accounts for the purpose of dematerialization.

This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Lok Sabha today.

E-insurance: repositories authorized to dematerialize and store insurance policies electronically under regulatory framework. E-insurance has been introduced to hold insurance policies in electronic form through authorised repositories; the regulator granted certificate of registration to five entities to operate as insurance repositories, dematerialize paper policies, and open electronic insurance accounts for policyholders, providing centralised electronic custody and record-keeping of insurance policies.