IGMS Full Form in Insurance

What Is The Full Form Of IGMS In Insurance?

IGMS Full Form in Insurance is Integrated Grievance Management System aka Bima Bharosa System. This platform is a brainchild of the Insurance Regulatory and Development Authority of India (IRDAI), which was specifically designed as a one-stop solution to ensure your insurance gripes are handled with precision and speed. Launched initially back in 2010 and given a major facelift in 2020, this system is geared towards streamlining the process of filing and tracking complaints, making sure you, the policyholder, experience swift and effective resolutions.

Purpose and How It Functions

So, what’s the big idea behind the Bima Bharosa System? It’s simple: to centralize all insurance-related complaints in one efficient hub. Interesting, right? This setup allows the IRDAI to keep a close watch and ensure that insurance firms are on their best behavior, adhering strictly to complaint handling regulations.

Breaking Down How It Works

Here’s the rundown: Jump onto the Bima Bharosa portal and shoot over your complaint online. It doesn’t matter if it’s related to life, health, or general insurance, all types of grievances are welcome here. After your complaint is in the system, keep an eye on the progress, and stay in the loop with regular updates on the actions your insurance company is taking and the expected resolution timeline.