Bima Sugam: IRDAI approves Bima Sugam, policy purchase and settlement will be easy

Bima Sugam: IRDAI approves Bima Sugam, policy purchase and settlement will be easy

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 purchasing insurance to insurance settlement will become very easy. Now apart from the option of purchasing insurance, customers will also have the option of visiting the Bima Sugam portal on the websites of all the companies or contacting the agents.

Information about all insurance companies will be available on one platform

Bima Sugam Portal is a platform where customers can compare insurance products of all companies and buy it as per their need. Policyholders will also get an opportunity to compare premiums on this platform.

All insurance will be listed on 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, customers 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 like UPI for the insurance sector. Through this platform, customers will not only get the opportunity to compare different insurance products, but it will also help in speeding up the insurance settlement. This will increase the credibility of companies working in the insurance sector. At present the portal has been approved and it will be launched as soon as possible. 

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