Insurance e-marketplace: IRDAi issues draft rules for Bima Sugam:

Insurance e-marketplace: IRDAi issues draft rules for Bima Sugam:

Daily Current Affairs   /   Insurance e-marketplace: IRDAi issues draft rules for Bima Sugam:

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Category : Business and economics Published on: February 16 2024

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  • The Insurance Regulatory and Development Authority of India said Bima Sugam—Insurance Electronic Marketplace formed under the Companies Act, 2013—will be a not-for-profit entity.
  • The proposed insurance e-marketplace will be jointly held by all life, non-life and health insurance companies, and offer free services to consumers.
  • With Bima Sugam, the regulator is trying to replicate the ONDC (Open Network Digital Commerce).
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