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insurance new rule: Bima Sugam approved: Insurance policies set to be more affordable; buying policies, claim-settlement to be easier

IRDAI has approved the proposal to set up Bima Sugam — an online insurance marketplace. From buying insurance policies to renewals to claim settlement to portability to grievance redressal — Bima Sugam aims to provide an end-to-end digital journey to all policyholders. What is Bima Sugam? How will Bima Sugam benefit insurance policyholders? All you need to know

Major changes in insurance regulations — new health insurer Galaxy Health, Bima Sugam, more protection for policyholders

IRDAI has approved eight principle-based regulations at its recently held board meeting. The primary ones include Bima Sugam — an online marketplace for insurance policies, product regulations regarding the surrender charges of the insurance policies, and regulations for the protection of policyholders. All you need to know

IRDAI clears decks for Bima Sugam for buying, selling, settling claims for insurance policies

Bima Sugam will list insurance products from all life, health, and general insurance categories, providing a comprehensive one-stop shop for insurance needs.

Bima Sugam e-market, life cover surrender value, corporate governance norms among 8 regulations approved by IRDAI

Irdai moves towards changes to protect policyholder interest

IRDAI proposes extending the free look period for life and health insurance policies. Draft regulations aim to consolidate regulations, relax norms, introduce nomination provisions, and facilitate insurance transactions through a not-for-profit digital marketplace called Bima Sugam.