Insurance repository and e-insurance account

What is an insurance repository?

An insurance repository is a company registered with IRDAI to keep insurance policies in electronic form on behalf of policyholders. A policyholder opens an e-insurance account (eIA) with one repository, and policies from different insurers, life, health, motor or annuity, can be credited to that single account. The repository does not sell insurance. It holds the electronic record, gives the policyholder one place to view and download policies, and passes service requests such as a change of address or nominee to the insurers concerned.

The idea is similar to a demat account for shares, which is why electronic policies are sometimes called dematerialised policies.

How insurance repositories work in India

History. IRDAI introduced the repository system in 2011 with guidelines on insurance repositories and electronic issue of policies, and revised them in May 2015. Repositories can appoint approved persons as their agents for tasks such as opening accounts. The industry also uses iTrex, a central index server that de-duplicates accounts, holds KYC and routes messages between repositories and insurers.

The repositories. As of October 2026, IRDAI lists four registered insurance repositories:

The eIA. According to IRDAI's FAQs:

• Opening and holding an eIA is free.
• An individual can have only one eIA.
• It can be opened through the repository, an insurer or an approved person, with photo identity, address proof, a photograph and, for electronic payments, a cancelled cheque. A person without any policy can still open one.
• Existing paper policies can be converted to electronic form on request.
• For a new policy, the eIA number is quoted in the proposal form.
• The repository sends a statement of the policies held at least once a year.
• One service request to the repository, such as a change of address, can update policies with several insurers.

Electronic policies by default. Regulation 13 of the IRDAI (Protection of Policyholders' Interests, Operations and Allied Matters of Insurers) Regulations, 2024 requires insurers to issue policies only in electronic form, whether the proposal came in on paper or online, subject to any exemptions IRDAI allows. The insurer must ask in the proposal form whether the customer also wants a physical document, and must give one on request for policies issued directly. The 2024 master circular also lets policyholders store policy copies in DigiLocker, and requires insurers' systems to connect to it.

Status under the 2025 amendment. The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025, in force from 5 February 2026, lists insurance repositories in the statutory definition of "insurance intermediary", which brings them under the registration regime of Section 42D of the Insurance Act.

What the insurance repository means for distribution

• Fewer lost policies, faster claims. Families often struggle at claim time because they cannot find the policy document. A policy in an eIA can be traced and downloaded, and the nominee details are in one place.
• Use the eIA for servicing at scale. For agents and brokers with large books, an address, mobile or bank change done once through the repository is far less work than separate requests to each insurer.
• Capture the eIA number at sale. Ask whether the customer already has an eIA and record it in the proposal, so the policy is credited to the existing account and not to a duplicate.
• Explain that the repository is not the insurer. Claims are still filed with, and decided by, the insurer. The repository only holds the record and relays service requests.
• Pair it with KYC. The eIA holds KYC once, which complements the CKYC identifier. Together they reduce repeat paperwork for customers who buy from several insurers.
• Watch how this fits with Bima Sugam. Under its 2024 regulations, IRDAI's Bima Sugam marketplace is meant to support purchase, servicing, claims settlement and grievance redressal, drawing on data providers such as DigiLocker and the Central KYC Records Registry. Distribution teams should track how insurers route e-policies between repositories, DigiLocker and Bima Sugam.