IRDAI pushing to onboard Health Exchange, Bima Sugam by Aug 1

IRDAI is pushing to implement two high tech projects – Health Claims Exchange and Bima Sugam – to deepen insurance penetration and simplify the claim procedures.

IRDAI Chairman Debasish Panda met chief executive officers of some insurance companies recently to give a new thrust to these projects and onboard them by August 1. While the faster completion of a Health Exchange platform was discussed with CEOs of the general insurance industry, a new Bima Sugam plan has been finalised with select CEOs of life and non-life insurance. According to industry sources, IRDAI has now set a new deadline of August 1 for the final implementation of these projects which have been ‘works in progress’ for some time, said insurers who attended the meeting.