With reference to the Bima Sugam consider the following statements It will be an integrating platfor...........

Economic Affairs Pension and Insurance

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With reference to the Bima Sugam, consider the following statements

It will be an integrating platform for insurers and distributers to make it one stop shop for customers.
It has been developed by Insurance Regulatory and Development Authority (IRDA).

Select the correct statement.

1 only

2 only

Both

None

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Explanation:

IRDA has developed a new Bima Sugam platform which will integrate insurers and distributors on to one platform to make it a one-stop shop for customers.

This portal at a later stage can be used to pursue service requests and settlement of claims through the same portal.
IRDA is simultaneously developing a lynchpin product ‘Bima Vistar’ that will be a bundled risk cover for life, health, property and casualties or accidents.
IRDA also envisages a women-centric workforce of Bima Vaahaks (carriers) in each Gram Sabha that will meet the women heads of each household to convince them that a composite insurance product like Bima Vistar.
Since most of the States are digitising their birth and death registries, the IRDA platform, if integrated with those registries, could help settle claims as fast as in a day.
The policy would be instrumental in providing insurance cover for all by 2047.

Hence both statements are correct.