IGMS Full Form in Insurance: What You Need to Know
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The IGMS Full Form in Insurance is Integrated Grievance Management System, also known as the Bima Bharosa System. This platform, developed by the Insurance Regulatory and Development Authority of India (IRDAI), was created as a comprehensive solution to ensure that insurance-related grievances are addressed with efficiency and speed. Originally launched in 2010 and significantly updated in 2020, the IGMS aims to streamline the complaint filing and tracking process, ensuring that policyholders receive prompt and effective resolutions.
Purpose and Functionality
The core objective of the IGMS, or Bima Bharosa System, is to centralize all insurance-related complaints within a single, efficient hub. This centralized system enables the IRDAI to monitor and ensure that insurance companies comply with regulations related to complaint handling. By providing a structured platform for grievances, the IGMS helps maintain high standards of service and accountability within the insurance industry.
How It Works
Here’s a brief overview of how the Bima Bharosa System operates: To file a complaint, simply visit the Bima Bharosa portal and submit your grievance online. Whether your issue pertains to life, health, or general insurance, the system accepts all types of complaints. Once your grievance is submitted, you can track its progress and receive regular updates regarding the actions taken by your insurance company and the expected timeline for resolution.
In conclusion, the IGMS Full Form in Insurance refers to the Integrated Grievance Management System, designed to efficiently handle and resolve insurance-related complaints. By centralizing and streamlining the process, the Bima Bharosa System ensures that policyholders can swiftly address their issues and receive timely resolutions.
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The IGMS Full Form in Insurance is Integrated Grievance Management System, also known as the Bima Bharosa System. This platform, developed by the Insurance Regulatory and Development Authority of India (IRDAI), was created as a comprehensive solution to ensure that insurance-related grievances are addressed with efficiency and speed. Originally launched in 2010 and significantly updated…