Mumbai: Insurance has always been an important part of our lives. People buy insurance to protect themselves and their families from future financial problems. However, purchasing insurance has often been a confusing and stressful process. Many find it difficult to understand the terms, compare different options, or complete the necessary paperwork.
Now, imagine if buying insurance could be as simple as shopping online — just a few clicks and it’s done. That idea is becoming a reality.
The Insurance Regulatory and Development Authority of India (IRDAI) has announced the launch of a new digital platform called **Bima Sugam**. This portal will make it much easier for people to buy insurance. Whether it’s life insurance, health insurance, or motor insurance, everything will be available in one place.
With Bima Sugam, people will no longer have to visit multiple websites or speak to numerous agents. The platform brings all insurance companies, agents, and services together on a single online marketplace — a unified hub for all insurance needs.
Bima Sugam is being called India’s first unified insurance platform, where users can not only buy policies but also compare offers, renew policies, file claims, and even track the progress of their claims — all online.
Additionally, the platform will increase transparency for agents and intermediaries. This means fewer chances of confusion, mis-selling, or hidden charges.
The Life Insurance Council and the General Insurance Council have expressed their support for this initiative, highlighting the benefits it will bring to both customers and insurance providers.
The platform is set to launch its first phase in December this year. After the initial rollout, Bima Sugam will continue to grow step-by-step, adding more features and expanding its services.
Industry experts believe that Bima Sugam will bring significant changes to the insurance landscape. It will save people’s time, reduce effort, and increase trust in the insurance system.
For those who have always found insurance confusing or hard to access, this new platform could make a big difference.
IRDAI has also emphasized that Bima Sugam is part of a larger plan to improve insurance services across India. With this digital tool, even people in small towns and villages will be able to access and manage their insurance easily.
The ultimate aim is to make insurance truly simple, transparent, and accessible to all.
https://www.freepressjournal.in/business/is-buying-insurance-now-as-easy-as-online-shopping-yes-with-the-launch-of-the-bima-sugam-portal
