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IRDAi issues draft rules for Bima Sugam
The Morning Standard
|February 15, 2024
Regulator is trying to establish online insurance marketplace in line with ONDC
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THE proposed insurance emarketplace will be jointly held by all life, non-life and health insurance companies, and offer free services to consumers.
The Insurance Regulatory and Development Authority of India (IRDAI) on Tuesday issued the draft framework for establishment of Bima Sugam, an insurance e-marketplace.
With Bima Sugam, the regulator is trying to replicate the ONDC (Open Network Digital Commerce). The aim is to create a digital public infrastructure to boost insurance penetration in India, and improve availability, accessibility, and affordability of insurance services.
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