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Insurance

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Is it compulsory for all Insurance Companies to offer electronic policies?

Yes. It is the policy holders prerogative to opt for a policy in electronic form. If a policy holder wants his/her policy (either new purchase or existing) in electronic form, then the Insurer is bound to fulfill his / her requirement.

The choice of a Repository for opening an e IA is the prerogative of the policy holder and hence all Insurance Companies will need to work with all the Insurance Repositories.

Initially, repository service will be available for life insurance only; over time, health and general insurance (personal lines only) will also be brought within the ambit of repository services.

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