Bima Sugam India Federation
Bima Sugam India Federation (BSIF) is a non-profit industry consortium incorporated in 2024 under the Companies Act, 2013, based in Mumbai, Maharashtra. It was established under the guidance of the IRDAI to manage and operate Bima Sugam, India’s first digital insurance marketplace. The Federation is responsible for policy governance, stakeholder integration, and ensuring digital transparency in the insurance value chain. It plays a pivotal role in advancing India’s Digital Public Infrastructure for insurance, contributing to the “Insurance for All by 2047” mission within the broader framework of Viksit Bharat 2047.[1]
Structure
Bima Sugam platform, developed under BSIF’s supervision, consolidates all insurance-related services into one digital ecosystem. It enables paperless transactions, stores policies digitally, and serves as a neutral marketplace linking customers directly with insurers. Technology development has been contracted to Protean eGov Technologies Ltd for approximately ₹100 crore, with E&Y serving as its project consultant.[2]
References
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- ↑ Livemint (2025-09-18). "Bima Sugam India Federation website launch: IRDAI Chairman says 'milestone' for insurance sector — all you need to know". mint. Retrieved 2025-10-21.
- ↑ Kumar, N. Ravi (2025-09-17). "Bima Sugam entity's website launched, insurance e-market rollout in phases". The Hindu. ISSN 0971-751X. Retrieved 2025-10-21.
