Know about E-Vahan Bima | Fusion - WeRIndia

Know about E-Vahan Bima

Know about E-Vahan Bhima

Having a motor insurance is legally an obligation in India as per Motor Vehicle Act 1988. Third Party Insurance is a statutory requirement. Having Motor insurance helps in protecting the vehicle and it owner when it comes to a financial situation.

e-Vahan Bima is an electronic motor insurance policy issued in digital form. It is now part of Digital India launched in the state of Telengana. Here are more things to know about this policy.

  1. Once you get your policy issued by the Insurer through an Insurance Repository, an eIA electronic insurance account will be provided to you. One can also create an eIA with any of the registered Insurance Repository.
  2. After the digital policy is issued, an SMS will be received by the policyholder. Furthermore, it is also proposed that a unique code will be issued. Using this unique code, the policy details can be obtained online.
  3. It is also planned that a mobile app will provided soon. The app will be easily downloadable from the store on windows, android and apple phones. The app will consist of policy details along with a QR Code.
  4. Quick Response Code (QR code) is like a bar code which is used for unique identification. It contains information about certain things. In the app, the QR code will contain information related to the Motor Insurance Policy details.
  5. One can take a print out of the policy or can paste a copy of the QR code on the vehicle.
  6. The e-Insurance Accounts will have exemption from the KYC Check for the purpose of holding electronic motor insurance policies. In case of there being other policies through eIA, then KYC is needed necessary.
  7. The benefit of having an electronic insurance is that one need not carry physical copy of the motor insurance policy.

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