Online insurance underwriting

The Indian insurance regulatory authority (IRDAI) has approved the implementation of a digital platform dedicated to the underwriting, management and settlement of claims. Called "Bima Sugam", the solution is expected to be operational in 2023.

Local insurers are likely to be the main shareholders of the new platform which will be endowed with an initial capital of 850 million INR (10.4 million USD).

This initiative is part of IRDAI's strategy to boost the Indian insurance sector's digital transformation.