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Soon insurance agents and intermediaries will be able to sell and renew insurance policies and make claim requests completely online.
IRDAI will soon launch Bima Sugam, a digital platform that will enable investors to buy, renew, port and make claim requests completely online.
In a recent interview with PTI, Debasish Panda, Chairman, IRDAI said that Bima Sugam will be a UPI moment for the insurance industry. He also clarified that insurance intermediaries including agents, brokers, IMFs and web aggregators will have access to this portal.
A member of the newly formed committee to develop Bima Sugam told Cafemutual that the insurance regulator is also thinking about launching a single policy which may offer life and health coverage to an individual through this portal. “The market regulator is also thinking about offering a bundled product for individuals through which they can get life coverage as well as health coverage through a single premium,” he added.
The platform would be simple to use and it will enable policyholders to buy new policies simply through their Aadhaar, he added.
