Service Details

Insurance Repository Registration Services 👇

🛡️ Insurance Repository Registration Services

(Digitize and Manage Insurance Policies Securely Under IRDAI Regulations)

📘 What is Insurance Repository Registration?

An Insurance Repository is an institution authorized by the Insurance Regulatory and Development Authority of India (IRDAI) to store insurance policies in electronic form (e-Insurance policies).

Insurance Repository Registration allows an organization to act as an intermediary providing digital storage, management, and servicing of insurance policies for both life and general insurance.

The registration ensures secure policy record-keeping, easy access, and streamlined claims management, aligning with the Government of India’s Digital India initiative.

🏢 Who Needs Insurance Repository Registration?

• Entities planning to provide electronic insurance account (eIA) services

• Insurance technology firms (InsurTechs)

• Third-party service providers handling insurance data

• Organizations partnering with insurance companies for digital policy management

⚙️ Governing Authority

🕊️ Insurance Regulatory and Development Authority of India (IRDAI) — under the Insurance Repository Regulations, 2013

🧾 Documents Required for Insurance Repository Registration

1. Certificate of Incorporation (Company / LLP)

2. Memorandum & Articles of Association

3. PAN, TAN, and GST registration

4. Net worth certificate (minimum ₹25 crore as per IRDAI guidelines)

5. Audited financial statements (last 3 years)

6. Details of Directors and Key Management Personnel

7. Business plan & revenue model

8. IT system security architecture and DR plan

9. Data protection and confidentiality policy

10. Infrastructure and manpower details

⚙️ Registration Process

1. Preparation of Application as per IRDAI guidelines

2. Submission of Application with prescribed form and fee

3. Scrutiny by IRDAI for eligibility and infrastructure

4. Inspection / Verification of IT Systems & Controls

5. Grant of Certificate of Registration as Insurance Repository

6. Ongoing Compliance & Reporting to IRDAI

⏳ Timeline

🕒 Processing Time: 60–90 working days (depending on IRDAI approval)
📅 Validity: 5 years (renewable thereafter)

💡 Benefits of Insurance Repository Registration

✅ Legally operate as an IRDAI-authorized Insurance Repository
✅ Offer electronic insurance accounts (eIA)
✅ Simplified policy issuance, renewal & claim tracking
✅ Enhanced customer trust through regulated status
✅ Reduced paperwork & fraud risk
✅ Integration with insurers and policyholders nationwide

💼 Our Insurance Repository Registration Services Include

• Eligibility evaluation and advisory

• Preparation of IRDAI-compliant documentation

• Financial and IT infrastructure assessment

• Application drafting & submission with IRDAI

• Assistance in regulatory inspection

• Post-registration compliance management

💰 Fees

• Government Fees: As per IRDAI notification

• Professional Fees: Based on project scope and documentation requirements

📞 Contact for Insurance Repository Registration

SAI KUMAR VARALA & CO
✅ IRDAI Registration | Digital Insurance | Compliance & Licensing Support
📱 Mobile: 7337500748
📧 Email: saivarala33@gmail.com