Gazette Information

Gazette Title

Insurance Regulatory and Development Authority of India (Bima Sugam - Insurance Electronic Marketplace) Regulations, 2024

Gazette Number

2156 GI/2024

Publication Date

20th March, 2024

Issuing Authority

Insurance Regulatory and Development Authority of India

Summary

• The regulations aim to empower and protect the interests of policyholders and enhance insurance accessibility in India.
• Establishment of a Digital Public Infrastructure called Bima Sugam - Insurance Electronic Marketplace.
• Promotes transparency, efficiency, and collaboration across the insurance value chain.
• Facilitates technological innovation in the insurance sector.
• Aims to achieve the vision of "Insurance for all by 2047".
• Specifies the regulatory framework for the establishment, governance, and functioning of the Marketplace.