Bima Sugam will be a game changer: IRDAI chairman Debasish Panda

IRDAI Member Rajeswari, who was the Chief Guest, advised the insurers to strive towards customer satisfaction.

Hyderabad: Insurers should strive for developing robust grievance redressal mechanisms. The Bima Sugam, a one-stop shop for policy sales, renewals, and claims settlements that insurance regulator IRDAI is working to launch in new year, will be a game changer for the insurance industry, said IRDAI chairman Debasish Panda.

Addressing a meeting conducted by the LIC Hyderabad Zonal Training Centre to mark the `Bima Lokpal Day’, Panda said the aim should be to achieve the objective of `insurance for all by 2047.’ The meeting was attended by life and non-life insurers. Panda spoke about the changes taking place in the insurance industry and said platforms like `Bima Bharosa’ must be popularised.

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IRDAI Member Rajeswari, who was the Chief Guest, advised the insurers to strive towards customer satisfaction. The Ombudsman is an ear to hear the grievances of the policy holders. Resolution of the grievances will create trust among the insuring public. She appealed all the insurers to ensure that the eligible person is given life and health policies.

Insurance Ombudsman Advisory Committee Chairman BP Acharya complimented the Ombudsman centres for resolving disputes quickly in a cost-effective manner. He asked the insurers to create awareness about the institution of Ombudsman as an effective grievance redressal forum.

N Sankarn, Ombudsman, Hyderabad Centre, briefed the participants about the steps taken for resolving the complaints through mediation and recommendations. LIC South Central Zone Manager M Jaganntah and Hyderabad Zonal Training Centre Director LK Shamsunder also spoke, said a release.