Ajay Seth, chairman of Insurance Regulations and Development Authority of India (IRDAI), launched the official website of Bima Sugam India Federation (BSIF) on Wednesday.
“Bima Sugam represents a crucial step in the direction of creating the digital public infrastructure of India for insurance. This initiative will enable policy holders to deepen the penetration of the insurance and ensure transparency and fairness in the value chain,” Seth said during the launching of the website.
“The launch of the website today is an important milestone, and I am convinced that the vision of the insurance for everyone by 2047 with the collective industry – deployment – as part of the prime minister of Viksit Bharat 2047 – will become a reality, ”, the Irdai president added.
According to Rakesh Joshi, chairman, BISF, the Federation took its first step in the direction of “building an inclusive, seamless and technology -driven insurance ecosystem for the country”.
Prasun Sikdar, MD & CEO, BSIF, said: “The Bima Sugam website is our authentic gateway for the public and industry. It provides clarity about our vision, administration and progress, while customers, insurers and intermediaries are together on a common platform on a common platform.
The platform will follow a phased approach, which ensures the highest levels of security, compliance and scalability. In accordance with the roadmap approved by the board, the Marketplace will gradually go live with real transactions, because insurers and ecosystem partners complete the necessary integrations in the coming month.
Bima Sugam is part of the BIMA Trinity model that is intended by the insurance policy, together with Bima Vistar, the all-in-one affordable product and Bima Vahak, a distribution channel led by women.
The industry greeted
The industry is positive about the launch of the website. “The launch of the Bima Sugam website marks a historic step in the direction of making insurance easy, seamless and accessible for every Indian, ” Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance, and Chairman, General Insurance Council, said told line.
“It is proof of what the industry can achieve when we come together, not as competitors, but as employees. With the vision of the regulator and the united dedication of all insurers, Bima Sugam will transform the insurance landscape of India and set a global benchmark into digital public infrastructure,” he added.
Bima Sugam is an innovative digital platform (an Amazon-like One-Stop Digital Platform) that innovates, develops and integrates advanced technologies to automate and digitize the processes for several stakeholders.
The stakeholders are insurance companies, policyholders, intermediaries, insurance repositories and external data sources. All insurance requirements, including those for life, health and general insurance (including motorcycle, travel), will be paid by Bima Sugam.
The online platform, supported by the regulator, the Life Insurance Council and the General Insurance Council, will enable individuals to meet all their insurance needs, immediately by buying the policy to claim arrangement and much more.
Published on September 17, 2025
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