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    <title>INSURANCE REPOSITORY</title>
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    <description>An Insurance Repository is a registered company authorised to maintain electronic insurance policies and to open unique e-insurance accounts (eIA). eIAs are opened on prescribed application with specified identity/address proofs and must be created within seven days of a complete application. Repositories only provide custody and servicing-they cannot solicit or sell policies. Electronic policies credited to an eIA are notified by mail/SMS; policy-level details are maintained and searchable. Features include single-point servicing across insurers, conversion of paper policies to electronic form, electronic payouts, annual statements, grievance cells, inter-repository transfers and an Authorized Representative mechanism for demise/incapacity.</description>
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