Bima Sugam will be a one-stop shop for buying and selling insurance, for policy servicing, and also for claim settlement.
Bima Sugam will change the insurance industry forever said by "IRDAI chairman".
For the insurance sector, Bima Sugam ought to be a UPI moment.
UPI payments, which were first implemented in 2016, reached the 11 lakh crore milestone in this september.
Insurance providers may join the platform. With API (Application programming interface), it will simply plug and play.
Every insurance intermediaries including agents, web aggregators all will have access to this portal and they assist people.
The data will automatically populate as soon as you enter the portal and type your Aadhaar number.