What is IR?

In the good old days, head of the family took one small life insurance policy cover and rest of the family lived with a great sense of safety. Changing Economic and Life style conditions are forcing us to take multiple insurance policies spanning across life, motor, property, health, pension and so on. It has now become a bare necessity to have at least 4 policies on an average. While some of these policies are long-term contracts and need to be preserved, others need to be tracked periodically and renewed with care.

Insurance policies are about protecting your dears ones with adequate cover and ensuring that the ‘cover’ acts as effective as you do in your absence. However, past data indicates that although right policy covers are taken, many policyholders regret posthumously because the gains could not be passed on to their legal heirs. Why? Either because their family members are unaware of the policy details or policy papers are lost, misplaced, forgotten or even destroyed.

At present, there is no proven method to preserve the policy bonds, appoint trusted persons (other than the beneficiaries /nominees of the insurance policy) to manage the risk portfolio, view the consolidated risk portfolio.

Policy holders do not have a common platform to view their consolidated risk portfolio, raise common service tickets, view consolidated premium certificates, view policy dockets, etc...

We are in an age that boasts only about going online, going green, going mobile and so on. Then why can’t all these happen to our insurance policies? Well, The insurance regulator indeed thought in similar lines and brought electronic conversion of insurance policies and appointed 5 Insurance Repositories to execute. Karvy is one of the entities licensed to act as an Insurance Repository in India.

Simply put, Insurance Repositories capture KYC data, convert the policies into electronic mode, protect them and take care of the ongoing servicing needs of policyholders. They do this by opening an e-Insurance Account and tagging the insurance policies into this account.

Policy-holders can also appoint Authorized representatives (like Power of Attorney Holders) in case they don’t want to disclose the policy details to their nominees.

e-Insurance Account is free, simple to open and operate, highly secure and always available online. It saves you from the hassles of filling multiple KYC forms when you apply for policies across life, non-life, health and pension products.

  • E Insurance Account is
    • Highly secure and convenient
    • A one time activity
    • Valid for all your insurance transaction across 50 life and general insurance companies
  • With Insurance Account , you can get
    • All your insurance policies under one roof
    • Appoint a reliable person to manage your policies on your behalf
    • Download consolidated annual statement for Income Tax purpose
    • Avail various online services possible at insurance companies under single umbrella
  • If you have eIA, You don’t need to
    • Visit multiple front offices Visit multiple insurance company websites
    • Submit multiple KYC proofs
  • Insurance Account is Free and we don’t sell and force any insurance policy on you.

How does it help me?

1. It enhances protection : Digital policies offer the highest protection for insurance policies against theft, destruction , sabotage, etc.,

2. It gives you extreme convenience during purchases : No more repeat KYCs. No need to give multiple documents while purchasing insurance policies. Your new e-Insurance Account will take care of all the hassles

3. It offers  extreme convenience for policy maintenance : You can now avail of a single window service across all your life, motor, health policies. 

4. It is available on all your favorites devices It is available on your mobiles , tablets and Phablets across iOS , Android , Windows and Blackberry!

5. It enables unified portfolio  views across all insurance policies 

6. It reminds you on all  important dates wrt insurance policies  e.g. Renewals,  Maturity / Money Back dates 

7. It allows you to appoint a special care taker for your policies

8. It saves environment and promotes green computing. More than a lakh of trees are cut every year towards policy dockets of life insurance.

9. It is Free. 

More than a 1,50,000 trees are cut every year to send the insurance policy holder communication. You can now make a difference by digitizing your insurance policies.

Where can I get e-Insurance Account?

We offer you the convenience of opening the account right from the device you are using now. Click here to open your e-account.

Once you have filled the form online , you can submit the forms along with the proofs at any of our 400 branch network