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Insurance Electronic Marketplace free of charges for availing services by the consumers -IRDAI – Insurance – Digital Public Infrastructure “Bhima Sugam – Insurance Electronic Marketplace” –

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IRDAI – Insurance – Digital Public Infrastructure of “Bhima Sugam – Insurance Electronic Marketplace” – Draft Regulatory Framework issued on 13.2.2024

IRDAI has issued the Regulatory framework to establish, govern and functioning of the Insurance Electronic Marketplace for entire insurance value chain to enhance availability, accessibility and affordability.

The Draft Insurance Regulatory and Development Authority of India (Bhima Sugam Insurance Electronic Marketplace) Regulations, 2024.

No-profit Companyto develop, operate and maintain the Electronic Marketplace for providing various services to the Insurance stakeholders.

Most important aspect is that the Consumers shall not be charged for availing services of Bhima Sugam.

Exposure Draft IRDAI (Bima Sugam – Insurance Electronic Marketplace) Regulations, 2024 (1).pdf

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