CAMSRep Unveils 'Bima Central' for Simplified Insurance Management

CAMS Insurance Repository Services has launched 'Bima Central,' an insurance portfolio management platform designed to simplify policy management for customers. This initiative addresses challenges faced by policyholders in managing their policies effectively, ensuring claim-readiness, and aggregating benefits. Multiple insurers are in various stages of integrating their services with Bima Central.

CAMS Insurance Repository Services (CAMSRep) has introduced a new insurance portfolio management platform called 'Bima Central,' aiming to simplify the policy management process for customers.

In response to the challenges policyholders face in managing policies, Bima Central offers a comprehensive solution by aggregating policy benefits and ensuring claim-readiness, according to a company statement released on Thursday.

Policyholders with an electronic Insurance Account (eIA) through CAMSRep will have access to Bima Central, facilitating the management of their policies across various insurers.

"The value of insurance has been underappreciated due to a difficult and cumbersome realization journey," said CAMSRep CEO Vivek Bengani at the launch of Bima Central. "After interacting with insurers and policyholders over the past 18 months, it was apparent that an industry-level platform could solve this problem. We initiated this venture and collaborated with insurers to understand the post-purchase journey, resulting in Bima Central."

SBI General has been the anchor insurer for Bima Central, while ICICI Prudential Life, Star Union Daichi, TATA AIA, and Aditya Birla Health are in various stages of integrating their services, as stated in the release.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)