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IRDAI has launched the Bima Sugam portal to enhance transparency, efficiency, and accessibility in India’s insurance sector. Set to go live by December 2025, the portal will allow users to compare, purchase, and renew insurance policies, as well as settle claims. It aims to streamline the insurance process and foster collaboration among stakeholders. IRDAI, established in 1999, is a statutory body under the Ministry of Finance, responsible for regulating and promoting the development of the insurance industry, with its powers outlined in the IRDAI Act, 1999, and the Insurance Act, 1938.

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