Over 1.3 Crore Persons Insured through Government e Marketplace (GeM) in FY25

Government e Marketplace (GeM), India’s largest online procurement platform for public sector organisations, has achieved a significant milestone in service delivery for FY25. Alongside enabling the hiring of over one million manpower resources, GeM has successfully facilitated insurance coverage for more than 1.3 crore individuals across Health, Life, and Personal Accident Insurance categories. This achievement underscores GeM’s role in expanding cost-effective and transparent insurance access to government buyers. 

Launched in January 2022, the Insurance Services category on GeM is designed to enhance efficiency by allowing procurement only from Insurance Regulatory and Development Authority of India (IRDAI)-approved providers. The platform ensures a direct, intermediary-free process between buyers and insurers, which has led to faster policy issuance and reduced premium costs. GeM now offers a wide range of insurance services, including asset, transit, and marine insurance, as well as liability, livestock, motor, crop, and cyber insurance. CEO-GeM, Mr. Ajay Bhadoo, highlighted that the trust shown by government organisations reflects GeM’s growing influence in public procurement and its commitment to delivering secure, scalable, and economical solutions across sectors. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.