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The Insurance Repository System enables e-Policies that eliminate which of these risks?
A{'text': 'Storage and loss of paper policies', 'letter': 'A'}
B{'text': 'Premium evasion', 'letter': 'B'}
C{'text': 'Fraud claims', 'letter': 'C'}
D{'text': 'Underwriting losses', 'letter': 'D'}
Answer & Solution
Correct answer: A. {'text': 'Storage and loss of paper policies', 'letter': 'A'}
1. e-Policies dematerialise paper policies into electronic form.
2. The shift removes paper-handling overhead.
3. Per the brochure: e-Policies will eliminate paper and associated risks of storage and loss.
_Source: IRDA Brochure (irdai.gov.in — official IRDAI publication) — "e-Policies will eliminate paper and associated risks of storage and loss"_