Bima Sugam: Many government schemes are being run by the government and many companies. With the help of this scheme, financial help and health benefits are being provided to the people. Everyone wishes for the good health of their family. In such a situation, taking insurance proves to be right. Let us tell you that recently, a big announcement was made by the Bima Sugam India Federation on 5 September. In this announcement, the company has said that its digital insurance marketplace, Bima Sugam, will start this year. This platform is being designed on the basis of IRDAI’s 2024 rules. Its objective is to provide insurance to all Indians by the year 2047; that is, the vision of Insurance for All by 2047 will be fulfilled.
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How will Bima Sugam work?
At the same time, this platform will be a paperless digital gateway. From here, people will be able to purchase an insurance policy, premium rate, claim, and complaint, etc. Initially, insurance companies will be linked to the pilot program. Then companies and customers will be onboarded in the right manner. Services for customers will be started gradually.
Know about investment and management
Let us tell you that Bima Sugam has an authorized capital of Rs 500 crore and a paid-up capital of about Rs 310 crore. It is working as a non-profit company, which has been prepared under Section 8 of the Companies Act 2013. Life insurance, general insurance, and health insurance companies have shareholdings in it, but no company will have a controlling stake.
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Know what the benefits will be
According to BSIF MD and CEO Prasun Sikdar, this platform will change the way insurance is bought, serviced, and sold in the country. This will provide more transparency and convenience to the customers. It is being designed as a digital public infrastructure. This will increase both penetration and trust in the insurance sector. Bima Sugam will make insurance as easy in the coming times as UPI has made transactions today.