In the fiscal year 2025, the Government e Marketplace (GeM) achieved a major breakthrough by facilitating insurance for more than 13 million individuals. These beneficiaries were covered under various categories, including Health, Life, and Personal Accident Insurance. This achievement reflects GeM’s role in transforming how public sector entities procure essential services, especially in the realm of insurance.
Since its launch in January 2022, the insurance services offered on GeM have been available exclusively from insurers approved by the Insurance Regulatory and Development Authority of India (IRDAI). This streamlined structure eliminates the need for middlemen, resulting in faster issuance of policies and significantly lower premium rates.
GeM’s digital-first approach is not just limited to personal coverage—it also includes a broad portfolio of offerings such as motor, crop, livestock, marine, cyber, and liability insurance, making it a one-stop platform for government procurement. The system has also enabled the hiring of over one million manpower resources during the same period, further enhancing its value in public service delivery.
Ajay Bhadoo, the CEO of GeM, emphasized the growing confidence that government organizations place in the platform. He pointed out that this trust is a testament to GeM’s commitment to offering reliable, affordable, and scalable solutions that are reshaping the public procurement landscape.
By offering a transparent and efficient insurance procurement system, GeM continues to empower government departments with better choices and improved service standards—ultimately driving innovation and accessibility across the board.
