Bima Sugam marks India’s first digital insurance infra push with website launch; what it means for policyholders?

The Bima Sugam India Federation (BSIF) today launched its official website, marking a significant milestone in establishing the country’s first Digital Public Infrastructure (DPI) for the insurance sector.

The website was formally launched by Ajay Seth, Chairman of the Insurance Regulatory and Development Authority of India (IRDAI), at the regulator’s headquarters in Hyderabad.

At the time of launch, all industry CEOs, senior IRDAI officials, and the Bima Sugam leadership team were present.

Ajay Seth, Chairman of IRDAI, stated, “Bima Sugam represents a crucial step towards building India’s Digital Public Infrastructure for insurance. This initiative will empower policyholders, increase insurance penetration, and promote transparency and fairness throughout the value chain. The launch of the website today marks an important milestone, and I am confident that with collective industry effort, the goal of ‘Insurance for All by 2047’—as part of the Prime Minister’s Viksit Bharat 2047 mission—will be realised.”

As per the IRDAI press release, the regulator will be rolling out platform features in phases to ensure the highest levels of security, compliance, and scalability. This follows the Board-approved roadmap, with the marketplace launching progressively with live transactions as insurers and ecosystem partners complete necessary integrations over the coming months.

Rakesh Joshi, Chairperson of Bima Sugam India Federation (BSIF), said, “Our sincere gratitude goes to IRDAI for their vision, guidance, and ongoing support in shaping this mission. With this website, we take the first visible step towards creating an inclusive, seamless, and technology-driven insurance ecosystem for the country.”

According to the regulator, Bima Sugam marketplace operates as a comprehensive platform for all insurance stakeholders, including customers, insurers, intermediaries, and agents, thereby promoting transparency, efficiency, and collaboration across the entire insurance value chain.

This technology-driven portal will help boost insurance penetration nationwide by providing a seamless customer experience.

Prasun Sikdar, MD & CEO, BSIF, said, “The Bima Sugam website is our authentic gateway for the public and the industry. It provides clarity on our vision, governance, and progress, while bringing customers, insurers, and intermediaries together on a common platform. This is the first milestone in a journey that will transform insurance access and transparency for every Indian household.”