Summary:

Government e-Marketplace (GeM), India's largest online procurement platform for public sector organizations, achieved a significant milestone in FY25. It facilitated the employment of nearly one million workers and provided insurance coverage to over 1.3 crore individuals across Health, Life, and Personal Accident categories. This highlights GeM's crucial role in enabling cost-effective and transparent insurance access for government buyers, contributing significantly to improved public service delivery.

Launched in January 2022, GeM’s Insurance Services category enhances efficiency by permitting procurement exclusively from IRDAI-approved providers. By eliminating intermediaries, the platform ensures faster policy issuance and reduced premium costs. GeM offers a wide range of insurance services, including asset, transit, marine, liability, livestock, motor, crop, and cyber insurance. CEO Ajay Bhadoo noted that the growing trust from government organizations reinforces GeM’s strong position in delivering secure, economical, and scalable public procurement solutions.

Source: IBEF

Disclaimer:

The information on this website comes from the India Brand Equity Foundation (IBEF), a reliable source for thorough insights into numerous areas of the Indian economy. While we aim to offer accurate and up-to-date information, the views, opinions, and analyses stated herein are solely those of the authors and contributors and do not necessarily represent IBEF's official stance or position. Readers should check information from credible sources and use their own discretion when relying on content provided on this site. We assume no responsibility or liability for the supplied content, including its accuracy, completeness, and usefulness.