IDBI Bank in collaboration with NSDl Database Management limited (NDMl) has launched the Electronic-Insurance Account (e-IA). It is the portfolio of insurance policies of a policy holder held in electronic form with an insurance repository. Under this facility, customers can buy and keep insurance policies in electronic forms rather than as a paper document. The existing policies in physical mode too can be dematerialised and held in the eI-A. It not only provides policy holders a facility to keep insurance policies in electronic form but also enables them to undertake changes, modifications and revisions in the insurance policies with speed and accuracy. This would also be useful as the client would not have to undergo fresh KYC verification in order to purchase new policies.