August 1, 2025 – Starting July 31, India’s insurance regulator IRDAI has enforced tighter audit rules for all digital insurance repositories. The move is aimed at improving transparency, protecting consumer data, and ensuring that insurance companies are storing your policy details in a safe and trustworthy manner.
What Is an Insurance Repository?
An insurance repository is like a digital locker that safely stores your life, health, and general insurance policies online. Instead of handling physical copies, you can view, track, and manage all your policies in one place — similar to a Demat account for shares.
Major repositories in India include:
- NSDL National Insurance Repository
- CDSL Insurance Repository
- CAMSRep
These services are widely used by both insurers and policyholders for secure, paperless access to insurance documents.
What’s New in the IRDAI Guidelines?
According to the revised guidelines issued by IRDAI:
- Stricter third-party audits are now mandatory to check if repositories are following safety and privacy norms.
- Audits must cover data security practices, system uptime, storage reliability, and customer service quality.
- Repositories must fix issues identified during audits within a specific time frame.
- The results will be regularly submitted to IRDAI for review.
This is a significant step forward because it puts more responsibility on these platforms to act transparently and ethically.
Why Should You Care as a Policyholder?
If you’ve ever used a digital locker to store your insurance policies — or plan to — this affects you directly.
These new rules mean:
- Your digital insurance data will now be better protected.
- IRDAI will keep a closer eye on system errors, fraud risks, and delays in document access.
- Repositories will be held accountable for any data leaks or service issues.
In simple terms: you get more peace of mind knowing your policies are stored in platforms that are being closely monitored and regularly tested for safety.
According to insurance industry analysts, these updated audits are part of a larger effort by IRDAI to digitize insurance safely.
“As more Indians shift to online insurance, this move ensures that backend systems are as secure and reliable as online banking,” said a senior official from one of India’s top private insurers.
If you haven’t already, consider opening an e-insurance account through a verified insurance repository. It’s free, easy to set up, and now — thanks to IRDAI — safer than ever.
The insurance world is becoming more digital every day. But with that comes the responsibility to keep your data protected and your policies accessible at all times. IRDAI’s revised audit guidelines are a welcome move to make India’s digital insurance ecosystem more trustworthy and secure.
Now is a great time to go digital with your insurance — just make sure your policies are stored with IRDAI-approved repositories that meet the new safety standards.
