After the success of UPI in transforming India’s banking system, the government has launched another revolutionary platform — Bima Sugam Portal.
This portal aims to simplify and digitize the entire insurance process, making policy purchase, renewal, and claim settlement faster, transparent, and more accessible to all citizens.
What is Bima Sugam?
Bima Sugam is a regulator-backed Digital Public Infrastructure (DPI) for India’s insurance ecosystem.
It serves as a one-stop online marketplace for all kinds of insurance — including life, health, motor, travel, property, crop, and pension policies.
Launched in September 2025 by the Bima Sugam India Federation (BSIF) under IRDAI’s oversight, it is seen as the insurance equivalent of UPI — standardized, neutral, and fully interoperable.
Objectives of Bima Sugam
Simplify citizen access to various insurance products.
Increase insurance penetration across India.
Consolidate the fragmented insurance ecosystem into one digital platform.
Build trust and transparency by enabling standardized processes for buying, renewing, servicing, and claiming policies.
Governance and Ownership
Managed by: Bima Sugam India Federation (BSIF) – a non-profit industry body.
Shareholders include: Life Insurance Council, General Insurance Council, and individual insurers.
Prasun Sikdar has been appointed as the first MD and CEO of BSIF.
Funding: Provided by insurers, with governance safeguards to avoid conflicts of interest (as insurers are both owners and service providers).
Key Features (Phased Rollout)
At Launch (September 2025):
Public-facing website serves as an information and guidance hub.
Initial access to compare policy features and insurer offerings.
(Image Alt: Bima Sugam Launch at IRDAI Hyderabad – Public Portal Overview)
Planned Features (Phased Integration):
Product Comparison: Side-by-side view of life, health, motor, travel, and crop insurance.
Policy Repository: One account to store and view all insurance documents.
Policy Purchase & Renewal: Seamless buying and renewal process across insurers.
Claims & Servicing: File claims, track status, and get faster turnaround (proposed 72-hour TAT for some claims).
Interoperability: Integration with TPAs, agents, brokers, and repositories.
Paperless & Consent-Based: e-KYC, digital issuance, and secure data storage.
Benefits of Bima Sugam App
For Consumers
Transparent comparison of insurance policies.
Single dashboard to manage all policies.
Faster claim settlement and better servicing.
Reduced paperwork and easy portability.
For Insurers
Wider distribution reach.
Reduced acquisition friction.
Standardized data and servicing flows.
Why Bima Sugam is a Game Changer
Just like UPI revolutionized digital payments, Bima Sugam is expected to transform India’s insurance landscape by:
Bringing all insurers under one digital platform.
Promoting transparency and policyholder empowerment.
Enhancing ease of access through digital, paperless processes.