Insuring yourself and your assets is important. But equally important is to keep your policy documents safely. Storing them digitally is a good option and to help you do that, the Insurance Regulatory and Development Authority of India (Irdai) allowed dematerialising of policies in 2013, so that a policyholder may keep all the policies together in an e-insurance account.
Dematerialisation is the process of converting physical financial instruments into an electronic format. For instance, an investor who needs to dematerialise her shares needs to open a demat account with a depository participant.
