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An explainer on Bima Sugam
Mar 28, 2024
Exploring the game-changing online insurance marketplace, Bhima Sugam, introduced by IRDAI in India. It aims to simplify insurance purchases, remove intermediaries, and centralize policy management, revolutionizing the industry.
05:29
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Quick takeaways
- Bima Sugam simplifies insurance buying by offering an online platform for easy comparison and purchase.
- Eliminating intermediaries, Bhima Sugam enhances customer experience with streamlined policy management and grievance redressal.
Deep dives
Bhima Sugam: Revolutionizing Insurance Purchase
Bhima Sugam, the new online marketplace for insurance approved by IRDAI, aims to address India's low insurance penetration. Trust issues, complex terms, and inadequate awareness are key barriers to insurance adoption in India. By providing a seamless platform to compare and purchase various insurance policies online, Bhima Sugam aims to simplify the buying process and increase insurance coverage for all Indians by 2047.
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