Bima Sugam Portal: Insurance Regulatory and Development Authority of India (IRDAI) has given its approval to ‘Bima Sugam’. After this decision of IRDAI, the process from buying insurance to insurance settlement will become very easy. Customers will now have the option to purchase insurance through the Bima Sugam portal, apart from the option of visiting all companies’ websites or contacting agents.
Information about all insurance companies will be available on one platform.
Bima Sugam Portal is a platform where users can compare insurance products of all companies and buy it as per their requirement. Policy holders will also get an opportunity to compare premiums on this platform.
All insurances will be listed on the Bima Sugam portal.
According to IRDAI, along with general insurance, information about life insurance corporations and health insurance companies will be available on the Bima Sugam portal. After giving its approval to the portal, IRDAI has said that with the launch of this portal, consumers as well as insurance companies and agents will get a one-stop solution. This will bring more transparency in purchasing the policy.
Insurance is as easy as UPI
Many experts believe that Bima Sugam will be a game changer for the insurance sector. It is similar to UPI for the insurance sector. Through this platform, users will not only get an opportunity to compare different insurance products, but it will also help speed up insurance settlement. This will enhance the reputation of the companies operating in the insurance sector. Currently the portal has been approved and will be launched as soon as possible.
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