INSURANCE
Bima Trinity progressing steadily toward implementation: IRDAI
Feb-17-2025

The Insurance Regulatory and Development Authority of India (IRDAI) has said that Bima Trinity -- comprising Bima Sugam, Bima Vahak, and Bima Vistaar - is progressing steadily toward implementation, with key milestones achieved across all three pillars. The portal for Bima Vahak’s, the localised women-centric insurance field sales force, is near completion and gearing up for a soft launch for Vahak onboarding starting April 2025. 

The implementation of Bima Sugam is going as planned. This Insurance Electronic Marketplace is to be established as a robust Digital Public Infrastructure enabling seamless integration with various services to facilitate purchase, sale, servicing of insurance policies, settlement of insurance claims and grievance redressal. Bima Sugam India Federation (BSIF), the entity set up to build and operate this platform has also completed all its incorporation & other foundational actions and is now ready to be capitalized by the enthused Industry participants.

Further, Bima Vistaar, the first ever composite product covering death, personal accident, property and surgical hospitalization with each line of risk, co-insured between all the insurers of that corresponding line of business within an omnibus co-insurance arrangement. A compliant, simple, comprehensive and customer friendly model has now been signed off by the top brass of the industry. Now that the project has reached a crucial juncture, the team has also upgraded the project operating mechanism to complete the rest of the technology build for Vistaar. 


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