First phase of Bima Sugam likely in Dec

The first phase of Bima Sugam—the insurance regulator's ambitious project to create an Amazon-like one-stop digital platform for insurance policies—is expected to be launched in December, according to people familiar with the development.

- SUBRATA PANDA

In the first phase, the platform will feature an e-KYC module along with two to three insurance products available for purchase, the sources said.

There had been speculation that the initiative might be put on hold following the exit of Debasish Panda, who completed his three-year term as the Insurance Regulatory and Development Authority of India (Irdai) chief in March. However, the sources clarified that work is progressing, albeit with a slight delay from the earlier mid-year timeline. Ajay Seth on Monday took charge as Irdai chairperson for a three-year term.