https://exam.pscnotes.com/Insurance-regulatory-and-development-authority”>Insurance Regulatory and Development Authority of India (Irdai), recently announced the launch of Bima Sugaman online marketplace that will house all companies selling life and non-life insurance on a single platform.
The online platform will provide you with a one-stop destination for all insurance needs, providing Services like buying insurance policies, portability facilities, change of insurance agents and settling of claims. It allows buyers to purchase life, motor or Health insurance policies directly. Besides, web aggregators (such as PolicyX, PolicyBazaar, etc.), brokers (such as Bajaj Capital, Probus Insurance Broker, etc.), banks and insurance agents will act as facilitators in selling insurance policies. The Bima Sugam platform will provide all these facilities to policyholders with an e-insurance account (E-IA).