The Government e-Marketplace (GeM), India’s leading platform for public procurement, has achieved a major milestone by facilitating insurance coverage for more than 13 million individuals during the financial year 2024–25. This accomplishment highlights the platform’s transformative role in delivering accessible and cost-effective insurance solutions for government organizations and their beneficiaries.
The Insurance Services category, introduced on GeM in January 2022, has steadily grown to become a trusted avenue for procuring Health, Life, and Personal Accident Insurance policies. By partnering exclusively with providers approved by the Insurance Regulatory and Development Authority of India (IRDAI), GeM ensures a seamless, transparent, and reliable process for government buyers. This has been a vital step towards offering financial security to a wide range of individuals, bolstering confidence in the platform’s insurance capabilities.
Ajay Bhadoo, Chief Executive Officer of GeM, emphasized the platform’s commitment to enhancing the public procurement landscape. “The milestone of insuring over 13 million individuals reflects the trust government organizations have placed in GeM for their insurance needs,” Bhadoo stated. “This achievement reaffirms GeM’s position as a transformative force in public procurement.”
A key feature of GeM’s insurance services is its ability to facilitate direct transactions between government buyers and insurance providers, effectively eliminating intermediaries. This approach has significantly expedited the procurement process while reducing insurance premiums, resulting in substantial cost savings for government entities.
Over the past year, GeM has also expanded its insurance portfolio to include a diverse range of offerings beyond Health and Life insurance. The platform now enables the procurement of Asset Insurance, Transit and Marine Insurance, Liability Insurance, Livestock Insurance, Motor Insurance, Crop Insurance, and Cyber Insurance. This comprehensive suite of options ensures that government buyers can meet an array of insurance requirements through a single, efficient platform.
The platform’s continued innovation and dedication to transparency and cost-effectiveness have solidified its position as a cornerstone of public service delivery. GeM’s achievements in insurance services underscore its pivotal role in creating a more efficient and secure future for public procurement in India.
