over-1-3-cr-insured-via-gem-in-fy-2024-25

India's Government e-Marketplace (GeM) has achieved a notable milestone in the financial year 2024–25 by facilitating the insurance of over 1.3 crore individuals across the country.

 

This accomplishment includes the provision of health, life, and personal accident insurance policies. 

 

Alongside this, GeM also supported the hiring of nearly one million manpower resources, reinforcing its growing significance in public sector service delivery.

 

Launched as a digital platform to streamline public procurement, GeM introduced the insurance services category in January 2022 to make insurance procurement more efficient, transparent, and cost-effective.

 

Only service providers approved by the Insurance Regulatory and Development Authority of India (IRDAI) are permitted on the platform, ensuring authenticity and reliability in services offered.

 

Through GeM, government departments can conveniently obtain group mediclaim, personal accident, and term insurance policies. These services are directly accessible without intermediaries, enabling faster transactions and reduced insurance premiums.

 

This approach not only speeds up the process but also leads to significant savings for government buyers.

 

Ajay Bhadoo, CEO of GeM, highlighted the trust government agencies have placed in the platform, stating that the achievement of insuring over 1.3 crore individuals reflects its expanding role in facilitating secure and seamless public procurement.

 

He reaffirmed GeM’s commitment to further enhancing the platform’s efficiency and outreach.

 

GeM’s insurance offerings have extended far beyond basic health and life coverage. The platform now includes policies such as asset insurance, transit and marine insurance, liability insurance, livestock insurance, motor insurance, crop insurance, and cyber insurance.

 

This comprehensive coverage enables government departments to meet a wide range of insurance needs through a single, integrated system.

 

By integrating these diverse services, GeM continues to transform the landscape of public procurement in India. It offers a transparent and effective mechanism that benefits both the government and the public by improving access to essential services like employment and insurance.

 

The 2024–25 performance of GeM not only highlights the platform’s utility but also sets the stage for continued innovation and service delivery in the public sector.