04 Sep 2013 09:00 AM IRDA issues licenses ofinsurance repository to 5 entities The licenses are valid upto July 31, 2014. IRDA has issued licenses to five entities – NSDL Database Management, Central Insurance Repository, SHCIL Projects, Karvy InsuranceRepository and CAMS Repository Services to act as an insurance repository. Insurance repositories will help policy holders to buy and keep their insurance policies in electronic form. It will hold electronic records ofinsurance policies issued to policy holders. Policyholders can merge all policies like health, motor, life insurance etc.in a single account. This service is expected to provide convenience and transparency, thereby reducing cost, paper workand risk of loss of documents.
Posted on: Fri, 06 Sep 2013 17:29:21 +0000
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