eIA stands for "e-Insurance Account". This e-Insurance account gives policyholders access to their life insurance portfolio in a few clicks.
Benefits of an eIA:
- No more physical policy documents
- View and manage all your life insurance policies under a single account
- Changes in contact details get auto-updated in all your policies across all life insurers
- Opening eIA is free
Insurance Regulatory and Development Authority (IRDA) has granted the Certificate of Registration to the following four entities to act as 'Insurance Repositories' that are authorised to open eIA.
- NSDL Database Management Limited
- Central Insurance Repository Limited
- Karvy Insurance Repository Limited
- CAMS Repository Services Limited