Coverfox.com
  • Insurance
    • Car
      • Car Insurance
      • Companies
      • Third party car insurance
      • Comprehensive car insurance
      • Car insurance calculator
      • New car insurance
      • Zero Dep Car Insurance
      • Buy Car Insurance
      • Compare Car Insurance
    • Bike
      • Two Wheeler Insurance
      • Two Wheeler Insurance Companies
      • Two Wheeler Insurance Claim
      • Two Wheeler premium Calculator
      • Third party Bike insurance
      • Multiyear Bike Insurance
    • Health
      • Health Insurance
      • Companies
      • Mediclaim Policy
      • Individual Health Insurance plans
      • Critical illness insurance
      • Senior citizen health insurance
      • Arogya sanjeevani policy
      • Coronavirus Health insurance
    • Term
      • Term Insurance
      • Companies
      • Life insurance
      • Life Insurance calculator
      • Term Insurance calculator
      • Life Insurance Plans
      • 1 crore term insurance
      • Compare Term Insurance
      • Buy Term Insurance
      • Term Insurance Renewals
    • Investment
      • Investment Plans
      • Companies
      • Buy Investment Plans
      • Child Plans
      • Pension Plans
      • ULIP
      • Endowment Policy
      • Tax saving investment
      • Buy ULIP
      • Best ULIP
  • About Coverfox
    • About us
    • Insurance Blog
  • Claims
  • Contact us
  • Login
image title
NEWS

E-Account Is a Must for Buying Insurance – IRDA

Karen Menezes Karen Menezes 12 August 2016

IRDA has stated that from October onwards, buying insurance policies would require an e-account. Learn how this initiative makes it convenient for insurance seekers.

e-account for buying insurance

The insurance sector will soon witness and reap benefits of the digital revolution, which has so far taken over most sectors. Recently, the Insurance Regulatory Development Authority of India (IRDA) has laid down a new regulation stating that from October 1, 2016, all insurance policies (including motor and travel) would have to be issued in electronic form. This is similar to buying and storing shares online in demat form.

If this norm has to be executed, customers would require an e-Insurance Account (eIA) for buying as well as renewing policies. Right from filling online forms, making payment, to getting their policy issued, insurance seekers can do it all conveniently at home. The management of policy documents would also get easier online.

This act by IRDA will also keep fraudsters at bay. Customers won’t be cheated with fabricated policies as digital policies will be authentic.

Sadly, the insurance industry hasn’t been very supportive about this new regulation, since many are still unaware about the power and necessity of technology that is driven by the digital revolution.

Karen Menezes
Written by Karen Menezes
An optimist at heart, Karen loves to see the world through a pair of rose-tinted glasses. An award-winning blogger, she loves to dream with her eyes open. Writing is not her passion, it’s an OCD! If at all she isn’t writing, you can find her shopping online or experimenting with DIY recipes.
icon News icon E Account Is A Must For Buying Insurance
  • Secure
  • Licensed By
  • Payment Options
  • Car Insurance
  • Bike Insurance
  • Motor Insurance
  • Commercial Vehicle Insurance
  • Travel Insurance
  • Car Insurance Premium Calculator
  • Family Health Insurance
  • Senior Citizens Insurance
  • Group Insurance
  • Corona Rakshak Policy
  • Corona Kavach Policy
  • Super Topup Plan
  • Term Insurance
  • ULIP
  • e-Term Plan
  • 1 Cr Term Insurance
  • कार इन्शुरन्स
  • टू व्हीलर इंश्योरेंस
  • टर्म इंश्योरेंस
  • हेल्थ इंश्योरेंस
  • मेडिक्लेम पॉलिसी
  • Learn About Insurance
  • Network Hospitals
  • Cashless Garages
  • Get Android App
  • Learn
  • About Us
  • Contact Us
  • Careers
  • Sitemap
  • FAQs
Connect with us
Become a Partner
Become a Coverdrive POS Agent

Coverfox Insurance Broking Pvt. Ltd. : Unit D4131-4139, 4th floor, Oberoi Garden Estates, Near Chandivali Studio, Andheri East, Mumbai - 400072

Licence No. 478 , IRDA Direct Broker Code: IRDA/ DB 556/ 13 , Valid till: 26/12/2022, CIN: U66000MH2013PTC243810

  • Shipping & Delivery Policy
  • Privacy Policy
  • Cancellation & Refund
  • Terms & Conditions
Copyright © 2022 Coverfox.com. All Rights Reserved