Revolutionizing Public Procurement: GeM Meets the Demand
Introduction
In the dynamic world of public procurement, India’s largest e-m Marketplace, GeM, is setting a new benchmark for efficiency. Over the years, GeM has been transforming how governments and organizations access essential services through its innovative platform. This milestone, revealed in the fiscal year 2024-25, underscores GeM’s commitment to continuous innovation and delivering unparalleled service quality.
GeM’s Services: A Foundation of Efficiency
At the heart of this success is GeM’s Insurance Services. Unlike traditional insurance providers, GeM offers a streamlined and cost-effective solution by enabling direct transactions between government buyers and insurance providers without intermediaries. This transparency not only reduces complexity but also ensures better communication and trust among stakeholders.
The Insurance Services category was introduced on GeM in January 2022 with the aim of streamlining the procurement process for groups and individuals needing health, life, and personal accident coverage. By adhering to the stringent regulations set by the Government of India, IRDAI, GeM ensures that only approved service providers are involved. This has not only enhanced the efficiency of insurance procurement but also provided financial security to a vast number of beneficiaries.
The Milestone: 1.3 Crore Insured Persons
This achievement is a testament to GeM’s ability to meet the growing demand for insurance coverage by governments and organizations. Over the fiscal year 2024-25, GeM facilitated the insurance of more than 1.3 crore individuals across various policies, including Group Mediclaim, Personal Accident, and Term Insurance.
This milestone reflects a growing confidence among government-affiliated buyers in leveraging GeM for their insurance needs. It reinforces GeM’s role as a transformative force in public procurement, offering both efficiency and cost-effectiveness.
Beyond Basic Insurance: A Broader Spectrum of Services
In addition to health and life insurance, GeM has expanded its offerings to include a comprehensive range of other insurance services. This includes asset, transit, marine, liability, livestock, motor, crop, and cyber insurance. By offering these diverse services, GeM ensures that governments can cover a wide array of insurance needs, from protecting assets in emergencies to managing risks across various industries.
CEO Insights: The Journey Continues
Shri Ajay Bhadoo, CEO-GeM, shares his thoughts on GeM’s continued journey. He emphasizes that while the platform remains committed to enhancing its capabilities, it is also recognizing the importance of staying ahead of market trends and customer needs. Through continuous innovation and best practices, GeM has established itself as a trusted partner for governments seeking seamless, secure, and cost-effective insurance solutions.
Final Thoughts
As the year 2025 approaches, GeM’s 1.3 crore insured persons serves as a snapshot of its growth trajectory. This achievement not only highlights its role in public procurement but also underscores its potential to serve as a reliable partner for the next era of governments. With continued success and innovation, GeM is set to remain at the forefront of e-mangement solutions, offering both efficiency and affordability that will continue to inspire governments worldwide.
Conclusion
In this year’s fiscal year, GeM has demonstrated unparalleled capability in meeting the demands of public procurement. Its expansion into various insurance services, combined with its commitment to continuous improvement, sets it apart as a leader in e-mangement technology. As we look ahead, we can expect GeM to continue its journey of providing seamless, secure, and cost-effective solutions, further amplifying its influence on the government sector.
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