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Bima Sugam achieves financial closure, mops up Rs 340 crore from insurers and GIC Re

Bima Sugam achieves financial closure, mops up Rs 340 crore from insurers and GIC Re

by AIP Online Bureau | Apr 14, 2025 | Indian News, Life, Non-Life, Regulation, Technology

The Ministry of Finance has prohibited three PSU general insurers- Oriental Insurance Company , National Insurance Company and United India Insurance- from providing any capital to Bima Sugam as currently, they lack shareholders’ capital and they are not permitted use...
Bima Vahak’s portal is ready for soft launch in April, says IRDAI

Bima Vahak’s portal is ready for soft launch in April, says IRDAI

by AIP Online Bureau | Feb 15, 2025 | Eco/Invest/Demography, Indian News, Intermediaries, Life, Non-Life, Regulation, Technology

The implementation of Bima Sugam is going as planned and is now ready to be capitalized by Indian insurers, said the IRDAI Hyderabad: The unveiling of of IRDAI’s game changing move Bima Sugam might have been delayed but the portal for Bima Vahak’s, the localised...
IRDAI chief to meet insurance industry CEOs for Bima Sugam and Bima Manthan on Feb 12-14

IRDAI chief to meet insurance industry CEOs for Bima Sugam and Bima Manthan on Feb 12-14

by AIP Online Bureau | Feb 10, 2025 | Banking & Bancassurance, Eco/Invest/Demography, Health, Indian News, Life, Non-Life, Regulation

Debasish Panda,chairman,IRDAI The IRDAI, on Feb 12, is expected to do a plain speaking to the insurers who have not taken their Bima Sugam job seriously. IRDAI chairman Debasish Panda will address CEOs of non-life insurance companies on 13th Feb and life companies...
Bharat Panchal appointed as chief risk, security, and stakeholder management officer of Bima Sugam

Bharat Panchal appointed as chief risk, security, and stakeholder management officer of Bima Sugam

by AIP Online Bureau | Nov 16, 2024 | Briefs, Life, Non-Life, Risk Management, Technology, Workplace/Employee Benefits

In another key appointment, Bima Sugam India Federation has appointed Bharat Panchal, a three-decade IT veteran having experience in fintech, banking, and telecommunications sectors, as its chief risk, security, and stakeholder management officer. Recently, Prasun...
Prasun Sikdar likely to join as CEO of Bima Sugam on Nov 1

Prasun Sikdar likely to join as CEO of Bima Sugam on Nov 1

by AIP Online Bureau | Oct 15, 2024 | Eco/Invest/Demography, Health, Indian News, Intermediaries, Non-Life, Technology

Prasun Sikdar, MD & CEO, designate, Bima Sugam Federation “I am truly excited about the journey ahead and the potential to democratise and universalise insurance in Bharat. Our commitment to enhancing affordability, accessibility, and availability is crucial...
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