Irdai to hold meet with insurers over Bima Sugam, Cashless Everywhere

The Chairman of the Insurance Regulatory and Development Authority of India (Irdai), Debasish Panda, is set to convene with CEOs of the Indian insurance sector in Mumbai to evaluate the progress of two key initiatives, Bima Sugam and 'Cashless Everywhere'. \r

The discussions will particularly focus on the final phase of Bima Sugam, an online insurance marketplace facilitating policy transactions and claims settlement. Mandated under the Companies Act 2013, Bima Sugam is a component of Irdai's Bima Trinity framework. The meeting will address concerns such as the appointment of a CEO and the composition of the company's board. \r

Additionally, there will be deliberations on the advancements in health insurance, particularly the 'Cashless Everywhere' initiative, enabling policyholders to receive cashless claim settlements irrespective of hospital network affiliations.