The insurance regulator has clarified that insurance agents and intermediaries can use the upcoming digital distribution platform ‘BIMA SUGAM’.
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 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.
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