Bima Sugam Portal

Facts for Prelims

Bima Sugam Portal

News: The Insurance Regulatory and Development Authority of India (IRDAI) is pushing to implement two high tech projects - Health Claims Exchange and Bima Sugam, to deepen insurance penetration and simplify the claim procedures.

About:
 IRDAI is setting up the Health Exchange platform, which will digitize and simplify the process of filing health insurance claims.
 It will reduce the cost per claim to the insurer and enable automatic fund transfer of the claim amount.
 The proposed exchange will help insurers to have a unified platform for claims and policyholders’ medical history, reducing the number of insurance frauds.
 NHA has invited contributors and developers from the open community to test, contribute and become a participant in the Health Claims Exchange ecosystem.
 Bima Sugam is a revolutionary step with ambitions of becoming the largest online market for insurance products and services.