Benefits of an eIA:
IRDA has granted the Certificate of Registration to the following four entities to act as 'Insurance Repositories' that are authorized to open e-Insurance Accounts.
Step 1: Download eIA opening form of your preferred Insurance Repository from below links:
Step 2: Fill the form and attach self attested copy of below mention required documents:
Step 3: Submit the forms along with self attested documents to your nearest Edelweiss Tokio Life Insurance branch.
You can use branch locator on our website or call us on 1800-212-1212.
Your account will be created within 7 days from the date of submission of application complete in all respects
"Insurance Repository" is a company formed and registered under the Companies Act, 1956 (1 of 1956) and which has been granted a certificate of registration by Insurance Regulatory and Development Authority (IRDA) for maintaining data of insurance policies in Electronic form on behalf of Insurers. The Insurance Repositories provide the ease of holding insurance policies issued in an electronic form.
The objective of creating an insurance repository is to provide policyholders a facility to keep insurance policies in electronic form and to undertake changes, modifications and revisions in the insurance policy with speed and accuracy. In addition, the repository acts as a single stop for several policy service requirements. The Insurance repository system also brings about efficiency and transparency in the issuance and maintenance of insurance policies.
No, only an entity which is registered under Company's Act and who is granted a 'Certificate of Registration' by Insurance Regulatory and Development Authority (IRDA) can act as an Insurance Repository.
No, Insurance repositories cannot sell/solicit insurance policies. They are authorized only to maintain the policies in electronic form and provide a service record of all insurance policies.
An Approved Person is a Point of Sale (PoS) appointed by Insurance Repository and will be working on behalf of Insurance Repository to extend the IR services
An e-Insurance account application form is one that is used by an individual to open an e-insurance account with the Insurance Repository. This form would be available with Insurance Company, Insurance Repository or an Approved Person.
An e-Insurance account holder or policyholder is required to fill the e-Insurance account form and submit the following documents to the office of Insurance Repository or Insurance company or authorized Approved Person (AP) appointed by Insurance Repository: 1. Photo ID 2. Recent passport size photograph 3. Cancelled Cheque (In case of ECS/NEFT services for insurance premium payment transaction) and 4. Address proof
Identity proof (any one): a) PAN Card b) UID Address proof (any one): a) Ration card b) Passport c) Aadhar letter d) Voter ID card e) Driving license f) Bank Pass Book (not more than 6 months old) g) Verified copies of: i) Electricity bills (not more than 6 months old) ii) Residence Telephone Bills (not more than 6 months old) iii) Registered Lease and License agreement / Agreement for sale Self- declaration by High Court and Supreme Court judges, giving the new address in respect of their own accounts. Identity card/document with address, issued by: a) Central/State Government and its Departments b) Statutory/Regulatory Authorities c) Public Sector Undertakings d) Scheduled Commercial Banks e) Public Financial Institutions f) Colleges affiliated to universities g) Professional Bodies such as ICAI, ICWAI, Bar Council etc. to their Members
Yes, an individual who is not having any insurance policy can open an e-Insurance account. After buying a policy, the policyholder can give a request for dematerialization to the Insurer or Insurance Repository or Approved Person.
An e-Insurance account will be opened within 7 days from the date of submission of application complete in all respects. Once, an account is opened, a welcome kit with the details of how to operate the same would be sent to the applicant/e-Insurance account holder.
In case you wish to remat your policies i.e. change your policies back to the hard copy format, kindly submit an application stating the same at the nearest Edelweiss Tokio Life branch or Insurance Repository office.’