Insurance regulator IRDAI has formed a steering committee, which will act as the apex decision making body for creation of its ambitious Bima Sugam platform, and it indicated that it will soon appoint a project consultant for which Request for Proposal (RFP) has already been issued.
While Bima Sugam will enable individuals to buy a life, health, motor or property insurance policies online, its implementation has now been postponed thrice. The platform will enable easy access under a single roof for insurance companies, agents, brokers, banks and even aggregators.
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