New e-insurance rule takes effect on April 1st; Here’s how to convert existing policy to e-Insurance Account

How to open an eIA:

Step 1: Download the eIA opening form of your preferred insurance repository from the below links.

Step 2: Fill out and submit the e-Insurance Account Opening Form with the KYC documents to the nearest approved person at https://nir.ndml.in/ap-details.htm. Alternatively, you may submit the form along with supporting documents to the branch of the insurance company for which you hold an insurance policy.

Story continues below this ad

Step 3: The approved person or insurance company will verify the e-Insurance Account Opening Form with the original KYC documents and process the application. Kindly carry the original KYC documents at the time of submitting the form to the approved person.

Step 4: The account will be created within 7 days of applying and completed in all respects. To open the e-Insurance Account, use one’s e-Insurance Account number and login ID to set your password.

What are the documents required to open an eIA?

Recent passport-size photograph
PAN card
Date of birth document
Identity proof
Address proof

How to convert an existing policy to an e-Insurance account:

Converting physical insurance policies into e-insurance policies involves opening an e-insurance account with an approved insurance repository.

Step 1: Fill out the Policy Conversion Form at https://nir.ndml.in/nir-prossess.htm, including details like the policyholder’s name, policy number, e-insurance account number, and insurance company name.

Story continues below this ad

Step 2: Submit the Policy Conversion Form along with the e-Insurance Account Opening Form to the nearest insurance company branch, approved person, or courier to NSDL Insurance Repository, NSDL Database Management Limited, 4th Floor, ‘A’ Wing, Trade World, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai-400013 (India).

Step 3: Upon completion of the conversion process, individuals will receive SMS and email notifications confirming the credit of the policy to their e-Insurance Account.

Key considerations:

It’s completely free of charge for opening an e-insurance account or conversion.
An authorised representative can access the e-insurance account to view the portfolio of insurance policies.
Once a policy is converted into an e-policy, the physical insurance policy certificate is no longer valid.

The Insurance Regulatory and Development Authority of India (IRDAI) has made it mandatory for insurers to issue fresh policies digitally. By following these steps, policyholders can securely convert their physical insurance policies into electronic form, making it easier to manage and access their insurance documents across companies and segments.