April 16, 2025
Show AI Summary
Insurance procurement via GeM enables direct, IRDAI approved sourcing of group and personal policies, improving transparency and cost efficiency.
GeM's Insurance Services permits government buyers to procure Group Mediclaim, Personal Accident and Term Insurance directly from IRDAI approved providers, reducing intermediaries, expediting procurement and lowering premiums. Since its launch in January 2022 the platform has expanded to include Asset, Transit and Marine, Liability, Livestock, Motor, Crop and Cyber insurance, thereby consolidating diverse insurance needs onto a single transparent and cost efficient marketplace for public purchasers.