Insurance Repository definition

Insurance Repository means a company formed and registered under the Companies Act, 1956 (1 of 1956) and which has been granted a certificate of registration by Insurance Regulatory and Development Authority (IRDA) for maintaining data of insurance policies in Electronic form on behalf of Insurers. The Insurance Repositories provide the ease of holding insurance policies issued in an electronic form.

Insurance Repository means a company formed under the Companies Act, 1956 and which has been granted a certificate of registration by Insurance Regulatory and Development Authority (IRDA) for maintaining data of insurance policies in electronic form on behalf of insurers.

Insurance Repository means a company formed and registered under the Companies Act, 1956 (1 of 1956) and which has been granted a certificate of registration under these Guidelines by Insurance Regulatory and Development Authority for maintaining a data of insurance policies in electronic form on behalf of insurers including the history of transactions during the term of policy.

Examples of Insurance Repository in a sentence

• If the Policy has been opted through Insurance Repository (IR), the consideration of the free look period of 15 / 30 days (as per the applicable channel as mentioned above) shall be from the date of email sent by the IR.

• All rights under this Policy shall stand extinguished immediately on cancellation of the Policy under the free look option.If the Policy is opted through Insurance Repository (IR), the computation of the said Free Look Period will be as stated below:- For existing e-Insurance Account: Computation of the said Free Look Period will commence from the date of delivery of the e mail confirming the credit of the Insurance Policy by the IR.

• Rider Benefits once cancelled shall not be revived, reinstated or restored at any point of time and a new proposal will have to be made for a new Policy.If the Policy has been opted through Insurance Repository (IR), the consideration of the free look period of 15 / 30 days (as per the applicable channel as mentioned above) shall be from the date of email sent by the IR.In addition to the above, Free Look Provision as per the base Policy is also applicable on the Rider contract.

• If the Policy is opted through Insurance Repository (IR), the computation of the said Free Look Period will be as stated below:- For existing e-Insurance Account: For the purpose of computation of commencement of free look period, the date of delivery of email confirming the credit of the Insurance Policy by IR shall be reckoned as the starting date of 15 days period.

• If Yes, please quote the EIA number : << >> If applied, please mention your preferred Insurance Repository : << >> Email Id (Registered with Insurance Repository) : << >>Your Policy will be credited in your EIA account and your address details as mentioned in the EIA shall override the address provided in this proposal for Insurance.

• If the Policy is opted through Insurance Repository (IR), the computation of the said Free Look Period will be as stated below:- For existing e-Insurance Account: Computation of the said Free Look Period will commence from the date of delivery of the e mail confirming the credit of the Insurance Policy by the IR.

• An update to the policyholder would be provided by the Insurance Repository on the status of the request in respect of all the requests that it receives.

• After buying a policy, the policyholder can give a request for dematerialization to the Insurer or Insurance Repository or Approved Person.

• As an illustration, a single change of address request made to the Insurance Repository can update the policies issued by multiple Insurers.

• A service request may be made to the Insurance Repository or Insurer or the Approved person in this regard.

More Definitions of Insurance Repository

Insurance Repository has the meaning set out in section 1.1.1 of Schedule B.1.

Insurance Repository means a company formed and registered under the Companies Act, 1956 (1 of

Insurance Repository or “IR” means a company formed and registered under the Companies Act, 2013or other entityand which has been granted a certificate of registration under these Guidelines by the Authority.

Insurance Repository or “IR” means a company incorporated under the Companies Act, 2013 or any other entity, which has been granted a certificate of registration by the Authority for maintaining data of insurance policies in electronic form on behalf of the Insurers;