Context:
The Bima Sugam India Federation (BSIF), the nodal entity for implementing the Bima Sugam electronic insurance marketplace, has launched its official website. The initiative is backed by the Insurance Regulatory and Development Authority of India (IRDAI) as part of creating India’s first digital public infrastructure for insurance.
Bima Sugam India Federation (BSIF)
BSIF is a public-private initiative launched by the Insurance Regulatory and Development Authority of India (IRDAI) to create a unified digital infrastructure for the Indian insurance industry. It aims to provide a seamless, transparent, and accessible platform for all insurance-related services.
Key Features:
- Unified Marketplace: Offers a one-stop platform for life, health, and general insurance products from various insurers.
- Digital Transactions: Facilitates policy purchase, renewal, portability, and claims through a paperless process using just the policy number.
- Transparency and Accessibility: Ensures transparency in insurance transactions and enhances accessibility for consumers.
Bima Sugam: India’s Electronic Insurance Marketplace
Bima Sugam is India’s first unified electronic insurance marketplace, launched by the Insurance Regulatory and Development Authority of India (IRDAI). It is designed to provide a seamless, transparent, and digital platform for insurance transactions across life, health, and general insurance.
