The Insurance Regulatory Authority of India (IRDAI) has advised all insurance companies for issuing digital insurance policies through DigiLocker. The insurance sector regulator has said that the measure will promote adoption of DigiLocker in the insurance sector.

The IRDAI has asked insurers to inform their retail policyholders about DigiLocker and how to use it. Insurers have also been advised to enable the process, by which policyholders can place their policies in the DigiLocker. The DigiLocker team in National e-Governance Division of the Ministry of Electronics and Information Technology (MEITY) will provide necessary technical guidance and logistical support to facilitate adoption of DigiLocker.

DigiLocker is an initiative under the Digital India programme by the MEITY, where citizens can get authentic documents or certificates in digital format from original issuers of these certificates. It aims at eliminating or minimising the use of physical documents and will enhance effectiveness of service delivery, making these hassle-free and friendly for citizens.

In the insurance sector, DigiLocker will drive reduction in costs, elimination of customer complaints relating to non-delivery of policy copy, improved turnaround time of insurance services, faster claims processing and settlement, reduction in disputes, reduction in fraud and improvement in contacting customers. On the whole, it is expected to lead to better customer experience.