With reference to Bima Sugam, consider the following statements:1.It aims to simplify the process of purchasing insurance for consumers. 2.It is a government-owned insurance company.3.Bima Sugam will fulfill all insurance needs, encompassing life, health, and general insurance, such as motor and travel coverage.Which of the statements given above are correct?

Q. With reference to Bima Sugam, consider the following statements:
1.It aims to simplify the process of purchasing insurance for consumers.
2.It is a government-owned insurance company.
3.Bima Sugam will fulfill all insurance needs, encompassing life, health, and general insurance, such as motor and travel coverage..
Which of the statements given above are correct?

[A] 1 and 2 only

[B] 2 and 3 only

[C] 1 and 3 only

[D] 1, 2 and 3

Answer: C

Notes:

Explanation –

Statements 1 and 3 are correct. Bima Sugam aims to simplify the process of purchasing insurance for consumers. It will fulfill all insurance needs, encompassing life, health, and general insurance, such as motor and travel coverage.

Statement 2 is incorrect. Bima Sugam is a digital platform that is being developed by the Insurance Regulatory and Development Authority of India (IRDAI) to make it easier for people to buy and manage insurance policies from a variety of insurers. It is not a government-owned insurance company.

Source: ForumIAS

Post-Mains Strategy Session by Mr. Ayush Sinha | ForumIAS