Blitz Bureau
NEW DELHI: Government e Marketplace (GeM) has successfully facilitated the insurance of more than 1.3 crore individuals covering health, life and personal accident insurance policies during the financial year 2024-25, according to a statement issued by the Commerce and Industry Ministry, reported IANS.
The insurance service provided comes apart from GeM facilitating the hiring of one million people during FY 24-25, the ministry statement said. The Insurance Services category was introduced on GeM in January 2022 to bring greater efficiency, transparency and cost-effectiveness in procuring insurance policies.
By ensuring that only Insurance Regulatory and Development Authority of India (IRDAI)-approved service providers are onboarded, GeM has established a reliable and trusted mechanism for availing insurance services. Through this platform, buyer organisations can seamlessly procure Group Mediclaim, Personal Accident and Term Insurance policies, thereby offering financial security to a vast number of beneficiaries, the statement explained. A key advantage of GeM’s insurance services is that they facilitate direct transactions between Government buyers and insurance providers without intermediaries.
This streamlined approach has significantly expedited the process while also reducing insurance premiums, thereby ensuring cost savings for Government organisations, the statement said.
