3 min read
Updated on Nov 18, 2022
The world is going digital. Thanks to the initiatives taken by our current Prime Minister, India is not behind. Internet has become so popular that you can buy anything online; right from a needle to a car. The digital platform is fast, secure and convenient. That is why it is no wonder that besides conducting transactions, the online medium is also used for storing data. You can store all your important files online and find them when you want. Just like you use a demat account for share trading, eInsurance Accounts have been introduced in the context of insurance. Have you heard about them?
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What are eInsurance Accounts?: An eInsurance Account is an online account which stores all your insurance related information. The account has the details of all types of insurance policies purchased in your name. So, whether you have a life insurance plan, health insurance plan, travel insurance plan or a car insurance plan, every detail of the different policies would be stored in your eInsurance Account.
Who can open an eInsurance Account?: There are approved repositories who are allowed to open an eInsurance Account in your name. You would have to approach any one of these approved repositories for opening your account. The repositories are NSDL Database Management, Central Insurance Repository, CAMS, KARVY, etc.
iTrex: iTrex is the Central Index Server which is the online platform used by insurance companies and insurance repositories to check eInsurance Accounts and exchange KYC data of policyholders. iTrex was formed to protect the privacy of both policyholders and the client database of insurance companies. All your insurance policies are stored at iTrex. Your KYC details are also stored on the website. This eliminates any mis-match of data as there is one dedicated website holding your insurance and KYC details.
Advantages of having an eInusrance Account: Why would something appeal to you if it doesn’t have advantages? Right? Well, eInsurance accounts definitely have advantages. Here’s what they are:
How to open an eInsurance Account?: The process of opening an eInsurance Account is quite simple. You just have to follow the below-mentioned steps:
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PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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