CAMS Repository Services launches insurance portfolio management platform

CAMS Insurance Repository Services (CAMSRep) has launched an insurance portfolio management platform 'Bima Central' allowing customers to manage their portfolio in one place.

With policy holders finding it a challenge to manage policies, Bima Central empowers them by simplifying and aggregating policy benefits, ensuring claim-readiness, among others, a company statement here said on Thursday.

Any policy holder who has opened their electronic Insurance Account (eIA) with CAMSRep would get access to Bima Central to manage their policies with various insurers.

"Value of insurance has severely underappreciated due to difficult and cumbersome realisation journey.

Over the past 18 months, we had multiple interactions with insurers and policyholders, (and) it came out clearly that this problem can be solved by an industry level platform," CAMSRep CEO Vivek Bengani said on the launch of Bima Central.

"We took the initiative and worked with insurers in understanding the post-purchase journey for creating suitable cases and to solve such challenges.

Bima Central is a result of this collaboration," he added.

SBI General has been the anchor insurer with Bima Central while ICICI Prudential Life, Star Union Daichi, TATA AIA and Aditya Birla Health have also come together and are now at various stages of integrating their services, according to the statement.