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The IRDAI has officially announced the launch of Bima Sugam; How will it impact policyholders?
Insurance
The Insurance Regulatory and Development Authority of India (IRDAI) has officially announced the launch of Bima Sugam, a digital platform designed to make insurance buying and management seamless. While the portal has not gone live yet, the first phase is expected to roll out in December 2025, after a delay from the earlier April timeline.
What is Bima Sugam?
Bima Sugam has been envisioned as a one-stop online marketplace for insurance, covering life, health, motor, and other categories. The platform will allow policyholders to purchase, compare, renew policies, and even settle claims through a single interface.
Why does it matter?
Today, insurance buyers often navigate multiple agents, portals, and apps to manage their policies. Bima Sugam aims to simplify this by bringing all insurers and intermediaries together on one platform. It promises greater transparency, efficiency, and collaboration across the sector and has been described by the industry as an “Amazon-like marketplace” for insurance.
Who is behind it?
The initiative is backed by IRDAI, along with the Life Insurance Council and General Insurance Council (GIC). Industry leaders, including Prasun Sikdar of Bima Sugam India Federation and Dr. Tapan Singhel of Bajaj Allianz, have called it a landmark reform in digital public infrastructure that could transform insurance access across Indian households.
When will it go live?
Though initially expected to launch in April 2025, the rollout was postponed to ensure proper integration and security. The first phase is now set for December 2025, with additional features to follow in a phased manner.
What it means for customers
For policyholders, Bima Sugam could be a game-changer. It will provide easy access to insurance products, faster renewals, smoother claim settlements, and better price comparisons, all on a single platform. By streamlining the insurance journey, the portal is expected to boost adoption and improve trust in the sector.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
September 18, 2025, 13:34 IST
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