You will soon be able to hold your insurance policies electronically. At its board meeting here recently, the Insurance Regulatory Development Authority (IRDA) board licensed the National Securities Depository Limited (NSDL), Central Depository Services Limited (CDSL), Stock Holding Corporation of India, Karvy Group and Computer Age Management (CAMS) Repository Services to act as repositories for insurance policies.
This move will enable policyholders to maintain insurance policies in electronic form and make changes, modifications and revisions to them. Policyholders will not be levied any charges for using such facilities as the insurance repositories will be paid directly by the insurance companies.
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