Details like, when exactly he developed the site, whether he knew about IRDAI’ Bima Sugam project by the time he started developing the website, which is being talked about for almost last two years, what activities he was undertaking through the site, are not known yet.
Life Insurance Council(LI Council), which has been negotiating with the person to find out an amicable solution to this impasse, has not succeeded till now to persuade him to vacate it.
Bengaluru: After almost reaching a final moment for taking off, the Indian insurance regulator’s IRDAI’s game changing project Bima Sugam is now suddenly facing hurdles from an unexpected quarters.
When the team in charge of implementing the online project wanted to initiate website for the mega tech project with Bima Sugam’s name , to their utter surprise, they found out some insurance professional from Bengaluru, who does marketing work of Life Insurance Corporation as a consultant, has already booked the domain name in his name.
On being informed about the industry wide initiative being undertaken by the IRDAI and the Indian insurance industry with an request to vacate the domain name, the person has demanded Rs 50 crore to so.
However, the Life Insurance Council(LI Council), which has been negotiating with the person to find out an amicable solution to this impasse, has not succeeded till now to persuade him to vacate it.
The person has informed the LI Council that he is open to negotiation on the pricing.
According to the sources LIC Council may not mind paying the person some money but definitely not Rs 50 crores.
The person has argued that he has apparently invested a lot of money in developing the website.
However, the other details like, when exactly he developed the site, whether he knew about IRDAI’ Bima Sugam project by the time he started developing the website, which is being talked about for almost last two years, what activities he was undertaking through the site, are not known yet.
When contacted by Asia Insurance Post, the person in Bengaluru, who has now hired lawyers to defend him, refused share any details of his website which he has put it in dormant now and not available for visit.
The LI Council is yet decide whether they want to go to court on the issue as it will delay the project, intending to create an e-market place for the entire industry.
Earlier, Prasun Sikdar,managing director & CEO Manipal Cigna Health Insurance, has been appointed as the first CEO of Bima Sugam India Federation, a private limited non-profit company, incorporated under the Companies Act to implement the Bima Sugam project.
No need to negotiate . Name new site as Bimasu , shorter , easy ,