Dematerialization of insurance policies in India

The Insurance Regulatory and Development Authority of India (IRDAI) has urged insurers to open online insurance accounts (e-AI) for their customers. This is a first step towards the dematerialization of insurance policies, which consists of converting physical documents into an online format.

IRDAI is also working on the implementation of "Bima Sugam", a digital platform dedicated to underwriting, claims management and settlement.