CAMSRep Drives Digital Transformation in Insurance Sector

CAMSRep has accelerated the digital transformation of insurance policies, with over 1 crore policies now managed electronically. This shift comes as IRDAI mandates digital policy issuance and KYC processes. Less urban participation indicates broader digital adoption across India, benefiting even NRIs.

CAMSRep has taken a significant leap in the digital transformation of the insurance sector, servicing over one crore policies electronically, according to a top official.

This move follows the Insurance Regulatory and Development Authority of India's (IRDAI) mandate for electronic policy issuance and introduces Know Your Customer (KYC) processes across all insurance purchases. The increased awareness among consumers is also a contributing factor to this shift.

According to CAMSRep CEO Vivek Bengani, the digital spread extends beyond the top 10 cities, reflecting deeper integration with Indian consumers comfortable with digital channels. The convenience offered by electronic Insurance Accounts is particularly appreciated by NRIs, facilitating easy portfolio management and prompt claims processing.

(With inputs from agencies.)