Bima Sugam

  • In September 2025, Bima Sugam, envisioned as the world’s largest online insurance marketplace, was officially launched by the Bima Sugam India Federation (BSIF) at IRDAI’s Hyderabad headquarters.
  • Bima Sugam is an integrated electronic marketplace designed to revolutionize the insurance sector through digital technology.
  • It serves as a one-stop platform for the purchase, servicing, and settlement of all insurance claims.
  • The Insurance Regulatory and Development Authority of India acts as the primary oversight and regulatory body.
  • Life, health, and general insurance companies hold equal stakes in the not-for-profit entity managing the platform.

Impact on Financial Inclusion

  • The platform reduces distribution costs by eliminating multiple layers ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Buy May 2026 Issue

Already a Member? Login here

Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Be an Annual Subscriber

Related Content

Current Affairs