Tapan Singhel, MD and CEO Bajaj General Insurance and Chairman, General Insurance Council.
“With the Insurance Amendment Bill passed in the Lok Sabha, the proposed reforms mark an important step towards building a more resilient and future-proof insurance ecosystem, in line with the vision of Insurance for All by 2047,” he said on Tuesday.
By facilitating the inflow of stable, long-term foreign capital, the changes are expected to strengthen insurers’ financial capacity, enable technology transfer, stimulate innovation and improve customer outcomes, while supporting broader insurance penetration and social security across the country, he added.
The bill also proposes the establishment of an Education and Protection Fund for Insureds, which aims to increase insurance awareness and safeguard the interests of policyholders. The emphasis placed on digital public infrastructure, supported by strong data privacy and cybersecurity safeguards, is both timely and critical. Overall, the bill is expected to broaden insurance coverage, bring more citizens under the insurance safety net, boost sectoral growth while strengthening policyholder protection.
Published on December 16, 2025
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