Current Affairs - National - Discussion

The Insurance Regulatory and Development Authority of India (IRDAI) launched Bima Sugam, a unified digital marketplace for various insurance products including life, health, motor, travel, and general insurance. The platform, operated by the Bima Sugam India Federation (BSIF), will be rolled out in phases, with full transactional functions expected by December 2025. Bima Sugam aims to improve accessibility, transparency, and trust in insurance services, connecting insurers, brokers, agents, banks, and policyholders through a single interface. By streamlining comparison, purchase, renewal, and claim processes, the initiative supports India’s vision of “Insurance for All by 2047” and strengthens the country’s digital public infrastructure.