In an effort to increase insurance penetration in the country and to make it accessible to all, the Insurance Regulatory and Development Authority of India (IRDAI) has taken a major digital leap. It has introduced Bima Sugam, a digital platform designed to bring all insurance services, from life insurance and health insurance to general policies, under one roof.
With the correct implementation, the Bima Sugam portal has the potential to transform how every Indian citizen buys, manages, and claims insurance. It aims to offer a secure, transparent, and paperless experience. Keep reading to know more.
What is Bima Sugam?
It is a unified digital marketplace being developed under the guidance of the IRDAI, to simplify the way insurance works in India. Bima Sugam by the IRDAI will allow customers, intermediaries, and insurers to connect seamlessly in one place. Its vision is to make insurance accessible, affordable, and available for everyone, irrespective of where they live, their income, or their literacy level.
The Bima Sugam portal will serve as a single window where one can buy, renew, and manage all types of insurance policies, be it life insurance, health, motor, travel, or property coverage.
It will also act as a standardised and transparent digital space where customers can:
- Compare products
- Make purchases
- Store policies securely
- File claims, and
- Track their requests in real time.
The regulations for Bima Sugam were approved in March 2024 under the Insurance Act, 1938 and the IRDAI Act, 1999. The platform is governed by the Bima Sugam – Insurance Electronic Marketplace Regulations, 2024. Bima Sugam is aligned with the IRDAI’s national mission of achieving ‘Insurance for All by 2047’.
Why is Bima Sugam Needed in Today’s Insurance Ecosystem?
The Bima Sugam platform can bring several much-needed changes in the Indian insurance sphere.
Low Insurance Penetration:
India’s insurance penetration remains low, despite considerable growth in recent years, with the total insurance penetration being 3.7% in FY24.
Inaccessibility:
Many consumers still find insurance complex and inaccessible, especially in semi-urban and rural areas.
Lack of Standardisation:
Different insurers use different formats. This may cause confusion for policyholders who struggle to track or manage multiple policies.
Biased Recommendations:
At the same time, private aggregator platforms sometimes recommend products based on commissions rather than customer needs. This can lead to biased suggestions. In addition, distribution costs can be high, and claim processes can often lack transparency.
Bima Sugam was conceptualised by the IRDAI to fix these systemic issues. It brings standardisation, fairness, and transparency to the insurance distribution.
With a centralised Bima Sugam insurance system:
- Customers enjoy uniform experiences across all insurers.
- Costs drop due to digital processing.
- Claims become faster and more reliable through direct integration with insurer systems.
- Insurance reach expands to India’s remotest corners, supporting the national goal of ‘Insurance for All by 2047’.
In short, the Bima Sugam portal is the much-needed bridge between insurers and the citizens of India.
What is The Purpose of the Bima Sugam Portal?
The Bima Sugam portal has been created to offer a single, unified digital platform for all insurance-related services in India.
- Its main purpose is to make buying, servicing, and claiming insurance simpler and more transparent for customers.
- Through the portal, users can compare policies, purchase plans, access policy documents, update details, and file claims without needing multiple websites or agents.
- By centralising services for life, health, and general insurance, the Bima Sugam website aims to improve accessibility and reduce paperwork. It will create a smoother, more customer-friendly insurance ecosystem for every policyholder.
Features of Bima Sugam
The Bima Sugam insurance portal will come with several innovative features that can make it a game-changer for India’s insurance ecosystem. Each feature is designed to enhance ease of use for every participant – customers, insurers, and intermediaries alike.
1. Unified Marketplace
The Bima Sugam portal brings together all types of insurance products, from life and health to motor, travel, and other general policies, on one digital platform. This means customers can explore a wide range of options in one place and choose the product that best fits their needs.
2. Safe Repository for Digital Policies
Policy issued through or linked to the Bima Sugam insurance system will be stored securely in a digital repository.
3. Paperless Processes
The Bima Sugam website is designed for end-to-end digital interactions, from buying a policy to raising service requests or filing claims. This can save time, reduce errors, and make the insurance experience more efficient.
4. Not-for-Profit Framework
Because the platform is not profit-driven, customers can be confident that recommendations are unbiased, and prices are fair.
5. Inclusive Design
The Bima Sugam portal will have a simple UI/UX and will be available in multiple Indian languages. This will allow people from Tier 2 and Tier 3 cities, and even rural areas, to navigate it easily.
6. Real-Time Claim Tracking
Once they submit a claim, policyholders can track its status in real-time through their online dashboard.
7. Intermediary and Insurer Access
Agents, brokers, and insurers can use Bima Sugam by the IRDAI, to onboard customers, sell products, and manage policies.
8. Integration with India Stack
Bima Sugam will work in sync with government-backed digital ecosystems, such as Aadhaar, DigiLocker, and UPI. This can make the process even more safe, reliable, and faster.
9. Regulator-Backed Confidence
Since Bima Sugam is governed by the IRDAI, users can be trusting because of the fact that the platform operates under strict regulatory norms and that all activities remain transparent and customer-centric.
How Will Bima Sugam Work?
The Bima Sugam website is being developed and operated by the Bima Sugam India Federation (BSIF). It functions as a digital public infrastructure. Through it, insurers, intermediaries, agents, and customers can provide and access insurance services in one place.
Here’s a simplified view of how the Bima Sugam portal will work:
1. One-Time Registration & Digital Onboarding
Every user will register on the portal. A unified Bima Pehchaan ID will be issued after KYC verification (serving as KYC for insurance), which will be a single digital identity for all policies.
2. Unified Dashboard
Once registered, customers can access all their insurance policies, across life, health, and general insurers, on a single dashboard. No need to log in to multiple insurer websites.
3. Buy and Compare Policies
Users can compare products from various insurers and buy the most suitable policy online. This includes life insurance, health insurance, motor insurance, and travel policies.
4. Policy Management and Renewals
All servicing activities, such as updating nominees, renewing policies, or downloading documents, can be done through the same portal.
5. Claim Filing and Tracking
Customers can file and track claims in real time via Bima Sugam.
In short, Bima Sugam by the IRDAI, is designed to eliminate paperwork and lengthy procedures and bring ease and efficiency to the insurance process.
Types of Insurance Products Covered
The Bima Sugam portal is designed to host a wide range of insurance products. It includes:
- Life insurance plans such as term, savings, ULIPs, and annuities.
- Health insurance products covering hospitalisation, critical illness, and wellness benefits.
- General insurance, like motor, home, travel, and personal accident policies.
By bringing all major categories under one roof, the Bima Sugam insurance portal makes it easy to fulfil every type of insurance need.
Benefits of Bima Sugam
Each stakeholder in the insurance process can benefit from Bima Sugam.
For Customers
One-Stop Marketplace:
Access all insurance services through the Bima Sugam website, from purchasing to claim settlement.
Transparency & Choice:
Compare multiple life insurance, health insurance, and other general insurance products in an unbiased manner.
Lower Costs:
The not-for-profit model may reduce the premium burden on customers.
Easy Policy Management:
Manage all policies in one place with real-time updates.
Better Accessibility:
People in Tier 2 and Tier 3 cities can easily buy insurance online in their preferred language.
Improved Trust:
Regulated by the IRDAI, which means ensured consumer protection and a standard process.
For Insurers
Wider Market Reach:
Easier access to customers nationwide, including rural markets.
Regulatory Compliance:
Allows for consent-based KYC and issuance APIs, which can lead to a more efficient customer onboarding.
Customised Product Listing:
Framework that allows insurers to list their products and sell via the platform.
Fraud Reduction:
Shared verification tools and data standardisation for accuracy and trust.
For Intermediaries
Simplified Digital Onboarding:
Quick customer registration through Aadhaar-based e-KYC.
Unified Interface:
Management of multiple insurer relationships through a single portal.
Faster Turnaround:
Digital processing to improve speed and efficiency.
Overall, the Bima Sugam portal promises to make insurance management seamless for all stakeholders.
Who Will Get the Benefits of Bima Sugam?
The Bima Sugam website is designed to benefit every participant in the insurance ecosystem.
Policyholders
They can gain from easier policy purchase, quicker service, and smoother claim settlements.
New customers
They can benefit from transparent comparisons and simplified onboarding.
Insurers
They can gain access to a centralised, standardised platform that improves efficiency and reduces paperwork.
Agents, intermediaries, and distributors
They can receive digital tools that make it easy to streamline servicing and sales.
Difference Between Bima Sugam and Private Aggregators
Both Bima Sugam and private aggregator platforms play an important role in making insurance more accessible and transparent for Indian customers. However, their purpose, governance, and operating models are slightly different.
While private aggregators focus on making insurance discovery and purchase simpler for users, the Bima Sugam portal is a regulator-backed public digital infrastructure designed to standardise the entire insurance ecosystem.
| | Bima Sugam
| Private Aggregators
|
Ownership and Governance
| Operates as a non-profit, Section 8 company established under the supervision of the IRDAI, Life Insurance Council, and General Insurance Council.
| Run by private companies that offer digital platforms to help customers compare and purchase insurance products.
|
Main Purpose
| Considered a public digital infrastructure; aimed at standardising and simplifying all insurance-related processes.
| Focuses on helping customers explore, compare, and buy insurance products from different insurers online.
|
Scope of Coverage
| Includes all segments — life insurance, health insurance, and general insurance — under a single system.
| Usually offers a range of insurance options and tools to help users compare and buy policies.
|
Regulatory Body
| Governed and monitored by the IRDAI.
| Operates under the IRDAI’s existing guidelines for web aggregators and other similar platforms.
|
Privacy and Security
| Follows a secure framework and data protection standards mandated by the IRDAI and the Digital Personal Data Protection Act 2023.
| Maintains privacy and data security as per regulatory norms and individual company policies.
|
Private platforms will continue to serve customers through their services. The Bima Sugam insurance portal will ensure that the underlying ecosystem remains secure, interoperable, and inclusive for all.
Bima Sugam Launch and Updates
The timeline of the Bima Sugam insurance journey can be understood as follows:
- 2022 = The IRDAI first proposes Bima Sugam as part of its mission to build a unified digital marketplace for insurance.
- 2024 - The Bima Sugam India Federation (BSIF), a not-for-profit backed by insurers, is incorporated
- 2025, September - IRDAI Chairman Ajay Seth officially launches the BSIF website.
The full website for the portal is going to be launched in phases. Phase I is expected to go live by December 2025 with e-KYC and a handful of onboarded products.
Given the sensitive nature of insurance data, the Bima Sugam website is built on high-end cybersecurity and privacy standards.
Its key safety measures include:
Zero-Trust Architecture:
Every access request is verified to help reduce cyber-risks.
Privacy by Design:
The platform follows the principles of the Digital Personal Data Protection (DPDP) Act 2023. This ensures user data is collected, processed, and stored securely.
International Security Standards:
Certified under ISO 27001:2022 (Information Security Management) and ISO 27017:2015 (Cloud Security).
Business Continuity & Disaster Recovery:
Compliant with ISO 22301:2019 to ensure uninterrupted service.
Once fully implemented, Bima Sugam can revolutionise the insurance supply chain by bringing transparency, reducing costs, and increasing access across all insurance plans.
Understanding Bima Pehchaan ID
What makes the Bima Sugam by the IRDAI so easy-to-manage for customers is the Bima Pehchaan ID.
Each Bima Pehchaan ID will be linked to Aadhaar, PAN, and mobile number, and will act as your lifetime key to all insurance records.
With this ID, policyholders can:
- View and manage all policies (across life insurance and general insurance providers) through a single dashboard.
- Update nominees or make service requests in real time.
- File and track claims quickly without repetitive document submissions.
- Continue their insurance journey seamlessly, even if they change insurers.
For intermediaries, a unique intermediary ID ensures secure access and verified transactions across insurers.
Thus, Bima Pehchaan ID can make insurance more efficient, transparent, and user-centric.
The Bima Sugam portal will be a major step toward the process of transforming India’s insurance landscape. Backed by the IRDAI, it brings together every part of the ecosystem on one secure and inclusive digital platform.
With features like Bima Pehchaan ID, paperless processes, and strict data protection, Bima Sugam is set to make buying and managing life insurance and general insurance simpler than ever.
FAQs
Understanding Bima Sugam
What is the Bima Sugam that has been proposed by the IRDAI?
Bima Sugam is a digital marketplace proposed by the IRDAI to centralise and simplify India’s insurance processes. It aims to offer a unified portal for consumers, insurers and intermediaries. One can enable purchase policies, raise service requests, and make claims in a paperless way.
What is Bima Sugam primarily designed to function as?
Bima Sugam is being designed to function as a one-stop digital insurance marketplace. It will integrate all policy-related services, from purchase to claims, on a single platform.
When was Bima Sugam launched?
The website of Bima Sugam India Federation was officially launched on 17th September 2025 at the IRDAI’s Hyderabad office.
Where is the headquarters of the Bima Sugam India Federation?
The headquarters of BSIF is located at Unit No.602, 6th Floor, Tower B, Prima Bay, Gate No 5,TC-II, Saki Vihar Road, Powai, Mumbai, Maharashtra, India - 400072.
The People behind Bima Sugam
Who is the founder of BIMA Sugam?
Bima Sugam does not have a single founder in the traditional sense. It is an initiative led by the Bima Sugam India Federation (BSIF). It was established in 2024 under the guidance of the IRDAI alongside the Life Insurance Council and General Insurance Council.
Who launched Bima Sugam?
The platform was launched by the IRDAI’s Chairman, Ajay Seth, during a public event at the IRDAI headquarters in Hyderabad in September 2025.
Who is the CEO of BIMA Sugam?
Prasun Sikdar serves as the first Managing Director and Chief Executive Officer of Bima Sugam India Federation.
Who is the Chairman of Bima Sugam?
Rakesh Joshi is the Chairman of Bima Sugam India Federation (BSIF). He is a former whole-time member of the IRDAI and chairs the governing board of BSIF.
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