The insurance e-commerce regulations suggest that insurers will have to create an e-insurance account for the policyholders within 15 days of selling them an insurance policy online.
So, what is an e-insurance account and how do you open one? We explain.
The benefits
An e-insurance account allows you to hold all your insurance policies electronically under a single e-insurance account, just as you hold your stock certificates and mutual fund units online in dematerialized form. With it, there’s no risk of losing the physical insurance policy. Besides, it’s easier for you or your nominees to track the details of your policies.
It also makes it easier to make changes to all your policies when they are in one folder. Take the most common problem of an address change. Instead of reaching out to different insurers, just update the address in your e-insurance account and the information will automatically update in all your policies
