Karvy Insurance Repository Limited

What Karvy Insurance Repository Limited does

Karvy Insurance Repository Limited (KINREP) is an IRDA-authorized Insurance Repository incorporated in India that operates an electronic vault platform for dematerializing and consolidating insurance policies. Policyholders open a free e-Insurance Account (eIA) and tag their life, general, health, and pension policies from multiple insurers under a single account, receiving a consolidated portfolio view, renewal alerts, KYC pre-verification for new purchases, and digital policy documents. The company is a subsidiary of the Karvy Group, a diversified financial services conglomerate established in 1983 and headquartered in Hyderabad, India.

The platform is architected around three dedicated portals: POSibilITy for policyholders (portfolio viewing, nominee management, complaint registration, service request downloads), AgilITy for agents and approved persons (enrollment management, commission management, training queue management), and INFINITY for insurance companies (back office and repository services). Mobile applications for iOS ('Protect My Policy') and Android ('Karvy Digital Vault') extend access to smartphones. The platform holds ISO 27001:2005 information security and ISO 9001:2008 quality management certifications and uses SSL encryption, OTP-based multi-factor authentication, and network monitoring. A centralized Download Center hosts insurer-specific service forms for approximately 20+ insurance companies.

KINREP operates a two-sided revenue model in which policyholders receive the eIA service for free, while insurance companies pay per-policy repository fees for each policy held in electronic form, with these fees funded from insurer cost savings on physical document handling. The company has additionally expanded into back-office BPO services for insurers and other financial institutions, including new business processing, agent enrollment, banking reconciliation, claims support, record management, and document archiving. The enterprise customer base spans 25+ Indian insurers (LIC, HDFC Life, ICICI Prudential, SBI Life, Bajaj Allianz Life, Bharti AXA, Future Generali, Tata AIA, Max Life, and others) along with strategic service contracts such as Aadhaar enrollment processing for NSDL and shareholder de-merger processing for Reliance Industries. Distribution combines online self-service, the parent Karvy Group's 400+ branch network, and partnerships with insurance agents.

Name

Karvy Insurance Repository Limited

Legal name

Karvy Insurance Repository Limited

Website

https://kinrep.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Karvy Insurance Repository Limited operates an IRDA-authorized electronic insurance repository platform, enabling Indian policyholders to dematerialize and consolidate life, health, and general insurance policies under a single free e-Insurance Account. Insurance companies pay per-policy repository fees.

Ownership category

akta.pro rank

Headquarters

HQ city

Hyderabad

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Repository Fees from Insurance Companies: Insurance companies pay repository fees to KINREP for each policy held in electronic form in the repository. This revenue model allows KINREP to offer FREE e-Insurance Accounts to policyholders - the costs are borne by insurers who save substantial amounts by digitizing policies. Fees are ongoing per policy as long as policies remain in electronic form.
2. Back Office Services: KINREP provides end-to-end data processing and analytics services for life, general and health insurance companies including new business processing, agent enrollment, POS services, banking reconciliation, and record management. These BPO services generate additional revenue.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels9 records

Core offering

Karvy Insurance Repository Limited (KINREP) operates an IRDA-authorized electronic insurance repository that converts physical insurance policies into digital form and stores them in a single e-Insurance Account (eIA) for policyholders across life, general, health, and pension categories. The platform offers consolidated portfolio viewing, online policy servicing, KYC pre-verification, and authorized representative nomination, with the eIA offered free to policyholders while insurance companies pay per-policy repository fees. KINREP also provides back-office transaction processing, agent management, technology hosting, and business support services to insurance companies and financial institutions.

Product overview

Karvy Insurance Repository Limited operates a unified platform for dematerializing and managing insurance policies electronically. The core offering centers on the e-Insurance Account (eIA), which serves as a single repository for all insurance policies across life, pension, health, and general categories. The product portfolio includes: POSibilITy (policy holder services portal for portfolio management, claims, and service requests), Protect My Policy (account opening), Tag My Policy (policy conversion), Track My Application (status tracking), AgilITy (agent services), and INFINITY (insurance company services). Supporting services include Transaction Processing, Agent Management, Technology Services, and Business Support. The architecture follows a portal-based model with distinct web applications for policyholders (POSibilITy), agents (AgilITy), and insurance companies (INFINITY), all connected through the central repository infrastructure.

Differentiator

Problem solved

Functional benefit

Brands

• POSibilITy: Customer portal for policy holders to manage their e-Insurance accounts, view portfolio, register complaints, and access various insurance services online.
• INFINITY
• AgilITy
• Protect My Policy

Products and services

• e-Insurance Account (eIA) A free electronic insurance account that allows policyholders to dematerialize and manage all life, pension, health, and general insurance policies under a single unified account with consolidated portfolio view, 24/7 online access, and one-time KYC valid across insurers.
• POSibilITy Customer Portal Online policyholder services portal enabling users to view consolidated insurance portfolio, manage nominees, raise service requests, track applications, register queries/complaints, and access policy-related documents and forms.
• AgilITy Agent Portal Portal for approved insurance agents and advisors providing enrollment management, commission management, training and exam queue management, and policy conversion request submission.
• INFINITY Insurance Company Portal Cloud-based services portal for insurance companies offering repository services, back office operations, and scalability solutions for policyholder servicing.
• Transaction Processing Services End-to-end data processing services for insurance companies including proposal acceptance, express data capture, premium renewals, policy printing and dispatch, claims processing, and banking reconciliation.
• Agent Management Services

Quantifiable outcome

• All services FREE for policyholders - no charges for opening account, maintaining policies, converting policies, or any ongoing transactions
• +4 more outcomes

Named customers24 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

29 partnerships are on record, tiered core and minor.

• Aegon Life InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository. Policyholders can convert their Aegon Life policies to electronic form and access them through their eIA.
• Aviva Life InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository.
• Bajaj Allianz Life InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository. Extensive forms available for download including agency application, nomination, assignment, loan, and surrender forms.
• Bharti AXA Life InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository. Case study client for New Business processing improvements with distributed operations at 203 locations.
• Birla Sunlife InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository. Extensive forms available including policy request, cancellation, health certificate, and fund switch forms.
• Exide Life InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository.
• Future Generali Life InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository. Strategic partner with testimonials praising flexible approach, pan-India scaling from 10 branches, and dependable service since 2008.
• HDFC Life InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository. Extensive downloadable forms including combined policy servicing, NEFT mandate, and death claim forms.
• ICICI Prudential Life InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository. Extensive forms available for assignment, nomination, loan, switch, and claim processing.
• IDBI Federal Life InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository.
• IndiaFirst Life InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository. Comprehensive forms available including death claim, critical illness claim, and health claim intimation forms.
• Kotak Mahindra Life InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository. Extensive downloadable forms for address change, top-up, assignment, surrender, and revival.
• PNB MetLifecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository.
• Reliance Life InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository.
• SBI Life InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository. Extensive downloadable forms including AB rider questionnaire, assignment forms, claim discharge forms, fund switch forms, and NECS mandates.
• Star Union Da Life InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository.
• Tata AIA Life InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository. Forms available for address, credit card, ECS/NEFT, and ULIP servicing.
• Edelweiss Tokio Life InsurancecoreChannel Partner/ Reseller/ DistributorGeneral insurance company whose policies are held in electronic form in KINREP repository.
• Shriram Life InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository. Claim forms available for download.
• DLF Pramerica Life InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository.
• Canara HSBC Life InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository. Forms available for absolute assignment, death claim, and policy reinstatement.
• Max Life InsurancecoreChannel Partner/ Reseller/ DistributorLife insurance company whose policies are held in electronic form in KINREP repository. Extensive downloadable forms including claim, surrender, NEFT, loan, and critical illness benefit forms.
• Tata AIG General InsurancecoreChannel Partner/ Reseller/ DistributorGeneral insurance company whose policies are held in electronic form in KINREP repository. Case study client for New Business processing improvements through banca channel at 2000+ locations.
• Apollo Munich Health InsurancecoreChannel Partner/ Reseller/ DistributorHealth insurance company whose policies are held in electronic form in KINREP repository.
• LIC (Life Insurance Corporation of India)coreChannel Partner/ Reseller/ DistributorIndia's largest life insurer with policies held in electronic form in KINREP repository. Extensive forms available including annuity, FNO, NEFT mandate, and IPP ECS forms.
• NSDL (National Securities Depository Limited)minorStrategic or Co-development PartnerCase study: KINREP served as registrar for Aadhaar enrollment processing at over 300 locations with 80+ lakh enrolments on behalf of NSDL.
• ICICI BankminorStrategic or Co-development PartnerCase study: KINREP processed Financial Inclusion Account Opening Verification - over 2 crore application forms including 60 lakh legacy applications in 4 months, reducing TAT from T+30 to T+3.
• Reliance IndustriesminorStrategic or Co-development PartnerCase study: KINREP handled de-merger of 85 lakh shareholder accounts across 4 legal entities within 60 days, valued at INR 25 Crore with 800 employees.
• UTI Mutual FundminorStrategic or Co-development PartnerCase study: KINREP consolidated UTI MF operations from 4 service providers, migrating 8 million folios and 90 million transactions across 145 locations.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Majesco: Global insurance technology and software vendor offering core insurance platform, PAS and digital solutions for life, health and P&C insurers. Provides back-office and PAS capabilities adjacent to KINREP's services for Indian insurers.
• Sapiens International Corporation: Provider of software solutions for the insurance industry including policy administration, claims and underwriting platforms. Adjacent technology peer relevant to the back-office/PAS services KINREP offers Indian carriers.

Others

• WNS Holdings: Business process management company with a sizable insurance BPO practice (policy administration, claims, underwriting support). Provides comparable back-office services to global insurers that overlap with KINREP's transaction processing offering.
• Genpact: Global professional services firm with deep insurance industry practice spanning policy servicing, claims and underwriting support. Comparable to KINREP in delivering back-office technology and BPO services to insurance carriers.
• Karvy Stock Broking Limited: Sister entity within the Karvy Group offering broking, depository participant and wealth services. Not a competitor to KINREP but shares brand, distribution and operational infrastructure that KINREP leverages.
• ICICI Securities / HDFC Securities: Large Indian retail financial services and broking franchises that, like Karvy Group, integrate insurance distribution with broader wealth services. Thematically adjacent as parent-style platforms bundling insurance into a wider financial services stack.

Emerging players

• PB Fintech (PolicyBazaar): India's largest online insurance marketplace with adjacent insurance technology and post-sale servicing capabilities. Indirectly competes for digital insurance wallet share and policyholder engagement relevant to KINREP's portal experience.
• Turtlemint: Indian insurtech platform offering insurance distribution, advisory and post-sale servicing technology. Shares the policyholder digital experience and insurer integration rails that KINREP addresses via its AgilITy/POSibilITy portals.

Direct peers

• CDSL Insurance Repository Limited: One of the IRDA-authorized insurance repositories in India, operating an e-Insurance Account (eIA) platform for life, health and general insurance policy dematerialization. Direct competitor to KINREP for the same mandated one-eIA-per-individual market.
• NSDL Database Management Limited (NDML Insurance Repository): NSDL group entity authorized by IRDA to operate an insurance repository and eIA platform. Competes head-to-head with KINREP for policyholder eIA accounts across life, health and general insurance in India.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xtwitter.com/kinrep1
• YouTubeyoutube.com/watch?v=P_505rkc1w4
• Facebookfacebook.com/KarvyKINREP
• LinkedInlinkedin.com/company/karvy-insurance-repository-limited

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Karvy Insurance Repository Limited