No, only entities approved by Insurance Regulatory and Development Authority (IRDAI) can become an Insurance Repository. CAMSRep – CAMS Insurance Repository Services Ltd. is an Insurance Repository approved by IRDAI.

eInsurance a/c is an unique 13 digit account number provided to the registered customer via SMS and/or email to login and manage their policies online with ease.

An Insurance policy holder can open an eInsurance Account (eIA) for FREE with an Insurance Repositories to be able to convert policies into electronic mode, manage/view/download documents online which is 100% secure, convenient, easy to store and retrieve during unforeseen circumstances for any policies be it Life, Health or General insurance policies all under a single account. An individual can have only ONE eIA with any one of the approved Insurance Repositories.

Note: An eIA holder while applying for any insurance policies be it Life, health or General policies must quote their eIA no. in the insurance application form, so that our customers can access the newly applied insurance policy by logging into CAMSRep eInsuarance account

For opening eIA online - Click here, enter your details and submit documents online. We will then revert with your unique eInsurance account no. within one business day.
OR
Download the eIA application form here and email us at info@camsrepository.com or walk in to any CAMS branches or contact CAMSRep Approved Person (AP).
OR
At the time of buying a new Insurance Policy, it may be best to hand over the eIA form, along with the insurance proposal form to the AP (who is also a Corporate Agent or Broker for that Insurer) or directly to the Insurance Company.

To open an eIA, a person needs to necessarily have either a PAN or Aadhar number, email Id or Mobile number. While accepting an eIA application, the AP should ensure that the customer provides copies of his/ her PAN or Aadhar, Address Proof and proof of date of birth, along with a passport size photograph. The AP needs to check the original ID Proof (PAN or Aadhar) and address proof for verification (the list of acceptable address proof documents is given elsewhere)

Proof of Identity (any one of the following - mandatory)

1. PAN
2. Aadhaar Number

Proof of Address (only applicable if PAN is provided as Proof)

A copy of any one of the following documents should be submitted as proof of address; the original of the relevant address proof should be produced for verification by CAMSRep:

• Aadhar letter
• Affiliated colleges ID cards with Address
• Bank Passbook
• Central/State Govt and its Departmental ID cards with Address
• Driving license
• Electricity bills
• ICAI, ICWAI, Bar Council etc. Member cards with Address
• Passport
• Public Financial Institutions ID cards with Address
• Public Sector Undertakings ID cards with Address
• Ration Card
• Regd. Lease and License agreement / Agreement for sale
• Residence Telephone bills
• Scheduled Commercial Banks ID cards with Address
• Self-declaration of High Court and Supreme Court judges
• Statutory/Regulatory Authorities ID cards with Address
• Voter ID Card

An “Approved Person (AP)” is an entity appointed by an insurance repository to represent it before policyholders and to perform certain assigned tasks in relation to and incidental to the functions of insurance repository.
In order to discharge the services and obligations, an insurance repository may appoint any number of approved persons to represent it before policyholders, subject to prior permission of IRDAI. IRDAI Regulations allow Brokers and Corporate Agents licensed by IRDAI to become 'Approved Persons' of Insurance Repositories to better service their customers. The services of corporate agents and insurance brokers appointed as APs shall be restricted to only those policies that are procured by them.

A company registered under the Companies Act, 1956, having experience of 3 years and having a paid up capital of more than Rs. 5 lakhs is eligible to be appointed as the Approved Person (AP) of an Insurance Repository. Such a company shall not be formed only for the purpose of carrying out the functions as an Approved Person for an Insurance Repository (hence, only an existing company fulfilling the requirements can be appointed as an AP).

No Individual or a sole proprietorship firm can act as an Approved Person. A Corporate Agent or an Insurance Broker licensed by IRDAI can become the Approved Person of more than one Insurance Repository, provided its license is valid. As an Approved Person, a Corporate Agent or an Insurance Broker can service only those policies that are procured by them. The ability of a Corporate Agent or Insurance Broker to act as an Approved Person ceases the moment his license is cancelled or suspended.

An Insurer cannot act as an Approved Person. No individual or a sole proprietorship firm can act as an approved person.

Every appointment of an Approved Person (AP) by an Insurance Repository (IR) will need to be approved by IRDAI. An Insurance Repository desirous of appointing an “Approved Person (AP)” shall make an application to the IRDAI in the prescribed Form (Form A). No Approved Person shall apply directly to the IRDAI for this purpose and in all cases; the application for an AP shall be sponsored by an Insurance Repository.

An Insurance Repository will thus collect all the required information from the entity desirous of becoming an AP (Applicant) as required by Form A, including an Affidavit filed by the Applicant and submit the application to IRDAI for approval along with its own undertaking.
Upon approval by IRDAI, the Insurance Repository will enter into an agreement with the Approved Person (AP), specifying the duties and responsibilities of the Approved Person. IRDAI Guidelines do not envisage direct understanding between the Insurers and APs.

The duties and responsibilities of the Approved Person shall be specified by the Insurance Repository. An illustrative list of duties and responsibilities as given in IRDAI Guidelines is available on request.

IRDAI regulations specify that an approved person shall not be allowed to access the policy holders eInsurance Accounts and that the services of corporate agents and insurance brokers appointed as APs shall be restricted to only those policies that are procured by them.

Accordingly, CAMSRep will provide read only access to policy details at www.camsrepository.com for Agent APs, for the policies procured by them, so that they can service their customers better without compromising data confidentiality.

Following Policy Details will be visible for broker/Corporate APs:

• Policy Holder
• Name Life Insured
• Name Insurer
• Plan Name
• Policy No
• Sum Assured
• Date of Commencement
• Policy Term (Years)
• Premium Pay term (Years)
• Policy Status
• Next Premium Due Date
• Total Premium (Rs.)
• Premium Frequency

Other Functionalities in Branch View will include, Registering Query & Complaint and Tracking Query & Complaint Status
Corporate View will, in addition, include AP Profile (with limited Edit option) and Branch Master

APs will be given an online electronic platform (web scan facility) to digitize and transmit eIA applications (along with supporting documents) and service requests to CAMSRep for quick turnaround.

The real benefit of Insurance Repository Services will be toward providing policy holders consistent and cost-effective services over the life cycle of their policies so that the entire industry benefits from specialization and scale. The real benefit for APs, especially Corporate Agents & Insurance Brokers acting as APs, will be the ability to keep their customers delighted by leaning on the Repository for services while focusing organization efforts on sales & customer acquisition.

Insurance Repositories like CAMSRep will be paid directly by the Insurance Companies whose policies are held in electronic form in the Repository so that no charges are levied on policy holders for the services rendered by the Insurance Repository. This fee (to be paid by Insurance Companies to Repositories) is yet to be finalized but likely to be only nominal so as to make it attractive for Insurers to adopt electronic policies.
Accordingly, the fee payable to APs for the services rendered by them to Insurance Repositories will also likely be nominal but commensurate with the effort.

All the services provided by CAMSRep (insurance repository services) are absolutely FREE of charge to policy holders. Policy holders need not pay anything extra to buy an electronic policy or to convert an existing paper policy into electronic form. Similarly they need not pay anything to avail of any services from CAMSRep, including online premium payment and services at CAMSRep's portal, www.camsrepository.com.

CAMSRep will be paid directly by the Insurance Companies whose policies are held in electronic form with CAMS Insurance Repository so that no charges are levied on policy holders.

No. Each Insurance Repository (IR) will have its own data base in which it will hold all eIA and ePolicy details of its account holders. The eIA details in an IR's data base will be as per the account opening form submitted by the account holder with subsequent changes, if any.

Policy level details will be uploaded to a person's eIA as and when he purchases a policy in electronic form or when he/she converts an existing (paper) policy to electronic form. Policy level details will be sent by the respective Insurance Companies to the IR as an electronic feed.

To facilitate easy de-duplication and verification of an individual's eIA status, a iTrex(Insurance Transaction Exchange) and is being maintained by IIB of IRDAI (or its nominated vendor) where basic details of every eIA Holder (PAN / Aadhaar No, Name, DOB and eIA Number) will be maintained.

Yes. It is the policy holder's prerogative to opt for a policy in electronic form. If a policy holder wants his / her policy (either new purchase or existing) in electronic form, then the Insurer is bound to fulfill his / her requirement.
The choice of a Repository for opening an eIA is the prerogative of the policy holder and hence all Insurance Companies will need to work with all the Insurance Repositories. Initially, Repository service will be available for life insurance only; over time, health and general insurance (personal lines only) will also be brought within the ambit of Repository services.
CAMS Insurance Repository has an ePolicy holders' grievances cell to address the grievances of Policy holders in respect of repository services and electronic policies held by them. ePolicy holders can lodge their written grievances in any office of CAMSRep (or CAMS) or online at www.camsrepository.com or email us at info@camsrepository.com.