{"id":261087,"date":"2023-09-21T20:49:09","date_gmt":"2023-09-21T15:19:09","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=261087"},"modified":"2023-10-08T08:13:41","modified_gmt":"2023-10-08T02:43:41","slug":"all-about-bima-sugam-portal-a-upi-moment-for-insurance-sector","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/all-about-bima-sugam-portal-a-upi-moment-for-insurance-sector\/","title":{"rendered":"All about Bima Sugam portal, a \u2018UPI moment\u2019 for insurance sector"},"content":{"rendered":"\n<p><b>Source: <\/b><span style=\"font-weight: 400;\">The post is based on the article \u201c<\/span><b>All about Bima Sugam portal, a \u2018UPI moment\u2019 for insurance sector<\/b><span style=\"font-weight: 400;\">\u201d\u00a0 published in<\/span><b> Hindustan Times on 21st September 2023<\/b><\/p>\n<h2><b>What is the News?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Insurance Regulatory and Development Authority of India (IRDAI) has formed a steering committee to act as the apex decision-making body for the creation of its ambitious \u2018Bima Sugam\u2019 online platform.<\/span><\/p>\n<h2><b>What is Bima Sugam?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Bima Sugam<\/span><span style=\"font-weight: 400;\"> aims to simplify the process of purchasing insurance for consumers.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This online platform is where customers can choose a suitable scheme from multiple options given by various companies.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">All insurance requirements, including those for life, health, and general insurance (including motor and travel) will be met by Bima Sugam.\u00a0<\/span><\/p>\n<h2><b>Who will own the Bima Sugam platform?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Life insurance and general insurance companies will own a 47.5 per cent stake each, while brokers and agent bodies will own 2.5 per cent each.<\/span><\/p>\n<h2><b>What are the benefits of the Bima<\/b><b> Sugam platform?\u00a0<\/b><\/h2>\n<p><b>The portal will provide the following benefits<\/b><span style=\"font-weight: 400;\">: 1) act as a centralized database 2) assist the insured\/buyers in porting their respective policies based on coverage and pricing 3) give people a wide choice to pick and choose policies and view all their policies 4) reduce commission paid to intermediaries and 5) <\/span><span style=\"font-weight: 400;\">Settlement of claims and renewal of policies will also become faster as paperwork is reduced drastically, making it easier for the customers.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: The post is based on the article \u201cAll about Bima Sugam portal, a \u2018UPI moment\u2019 for insurance sector\u201d\u00a0 published in Hindustan Times on 21st September 2023 What is the News? Insurance Regulatory and Development Authority of India (IRDAI) has formed a steering committee to act as the apex decision-making body for the creation of&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/all-about-bima-sugam-portal-a-upi-moment-for-insurance-sector\/\">Continue reading <span class=\"screen-reader-text\">All about Bima Sugam portal, a \u2018UPI moment\u2019 for insurance sector<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,956,9],"tags":[11872,10595],"class_list":["post-261087","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-schemes-and-programs","category-public","tag-9pm-daily-factly","tag-hindustan-times","entry"],"jetpack_featured_media_url":"","views":{"total":7,"cached_at":1698387615,"cached_date":1698436794},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/261087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=261087"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/261087\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=261087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=261087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=261087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}