Page 161 - India Insurance Report 2023- BIMTECH

India Insurance Report - Series II 149

Bima Sugam

It would be a unified platform that would bring insurers, distributors and customers together. It
would make policy purchases, service requests, and claims settlement process simple for customers at
one convenient portal. Riding on technology, it would bring much transparency, awareness, and alertness
into the system. It is likely to be an ONDC moment for insurance sector.
Bima Vistar

It is a step-in simplification & collaborative product making. Under Bima Vistar, IRDAI expects life
and general insurers to collaborate and offer comprehensive bundled policy covers. It is expected to be
a defined benefits for each risk category, ensuring quick claim pay-outs without long claim adjustment
processes. The IRDAI has also proposed for composite licencing norms for the insurance companies.
This will further boost Bima Vistar vision.

Bima Vaahaks

It is proposed to be a women-centric workforce operating at the Gram Sabha level. These trained
women advisors would educate and convince women about comprehensive insurance benefits, particularly
Bima Vistar. By addressing their concerns and emphasizing advantages, Bima Vaahaks are expected to
empower women and enhance their financial security.

4. Conclusion

Rural Bharat has not had a very large slice of mind space of the policy makers and the insurance
carriers in the past for a variety of reasons, including costs and viability, etc. However, things are changing
thanks to focussed attention on holistic governance, the laying of infrastructure and technology, and an
unwavering commitment for inclusion.