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IRDA introduces e-insurance in insurance sector

The IRDA has granted certificate of registration to five entities to dematerialize insurance policies and store them in an electronic form

February 24, 2014 9:20 IST | India Infoline News Service
The Insurance Regulatory and Development Authority (IRDA) has introduced E-insurance in the insurance sector, Minister of State for Finance, Namo Narain Meena in written reply to Lok Sabha on Friday.
The IRDA has granted certificate of registration to five entities to dematerialize insurance policies and store them in an electronic form. These are: NSDL Database Management Ltd; Central Insurance Repository Ltd; SHCIL Projects Ltd; Karvy Insurance Repository Ltd and CAMS Repository Services Ltd, Meena added.
Currently the above mentioned Repositories are opening electronic insurance accounts for the purpose of dematerialization, Meena further said.

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