Bima Sugam: The World’s Largest Online Digital Insurance Marketplace

Bima Sugam, which is being regarded as the world’s largest online insurance marketplace, was officially launched by the Bima Sugam India Federation (BSIF) at IRDAI’s Hyderabad headquarters.
The platform will introduce features in phases—beginning as an information and guidance hub, and later offering full-fledged transactions once insurers and partners are integrated.

Bima Trinity: India’s Three-Tier Insurance Strategy

Earlier, the central government through IRDAI had launched Bima Trinity with the aim of increasing insurance penetration. It focuses on the three A’s—Availability, Affordability, and Accessibility.

Components of Bima Trinity:

• Bima Sugam: A unified digital portal connecting insurers and distributors on a single platform.
• Bima Vistaar: An accessible, comprehensive, all-inclusive insurance product.
• Bima Vahak: A women-led field distribution network expanding access to rural and remote areas.

Unlike digital channels in other countries, Bima Sugam provides a single, unified platform for all insurance needs—life, health, motor, travel, property, and agriculture.
It allows users to buy, sell, renew, manage, and claim policies transparently.
Its objective is to bring the same kind of revolution to the insurance sector as UPI and NPCI did for digital payments.

The platform charges minimal fees, and all insurance companies are members. Many insurers have also taken equity stakes in the Bima Sugam India Federation (BSIF).
Unlike private aggregators like PolicyBazaar, which mainly earn by selling policies and charging high commissions, Bima Sugam provides end-to-end services including claim settlement, making it a low-cost, transparent, and integrated alternative.

For the first time, insurers, agents, brokers, banks, and aggregators will operate under a single platform.
Customers will be able to easily compare, purchase, and manage policies.
It will also serve as a centralized database to resolve queries and encourage new and sandbox products.

Bima Sugam is being considered a “critical step” in insurance reform.
It will empower policyholders, expand insurance penetration, and ensure fairness.
This aligns with the national goal of “Insurance for All” by 2047 under Viksit Bharat 2047.

Agents and intermediaries will be able to sell and service policies more efficiently, without paperwork hassles.
Bima Sugam has been designed as an electronic marketplace protocol, linked with India Stack APIs, to ensure seamless delivery of digital services nationwide.

What is Pink Tax?

The Pink Tax is also called the “Gender Tax.” It has a direct relation to women.
It is not an official tax—meaning, it is not something payable to the government or mandated by law.
Instead, it is an extra charge applied to products marketed for women.

Because of this, women’s products are often more expensive than men’s products.
For example, if we talk about hair oil—oil marketed for men will often be cheaper than that for women. This means women end up spending more on their products.

How Pink Tax is Charged:
Pink Tax is applied to products specifically designed for women.
Examples include makeup, nail paint, lipsticks, artificial jewelry, sanitary pads, etc.
Even on unisex products, women’s versions are priced higher.

For instance:

• A men’s lip balm might cost ₹70, while a women’s lip balm costs ₹150.
• A men’s deodorant may cost ₹100, but the women’s version is priced higher by the same company.

When shopping, this price gap between men’s and women’s products becomes very clear.

Why Pink Tax is Charged:
Pink Tax is not limited to Indian women—it applies to women worldwide.
The first notable case was reported in the US in 2015.

Companies often argue that women’s products cost more to manufacture.
Others believe that companies exploit the fact that women are more willing to spend on personal products.
Another argument is that men’s and women’s products are not always identical, and demand differences influence pricing.

Importantly, Pink Tax has no relation with the government—the extra money goes directly to companies.
Companies claim that women will buy their preferred products even at higher prices, and so they impose this tax to increase profits.

As a result, companies’ income has multiplied, especially from personal care products and other women-focused services.

‘No Handshake’ Controversy: Match Referee Apologises to Pakistan Captain

The Pakistan Cricket Board (PCB) stated that ICC match referee Andy Pycroft apologised to Pakistan’s team manager and captain.

Pakistan had alleged that after the India-Pakistan match on Sunday, when both captains came for the toss, the match referee had instructed them not to shake hands.
Pakistan complained to the ICC and even threatened that it would not play the next match against the UAE if the referee was not removed.

The ICC has not yet commented officially, but some reports in Indian and Pakistani media claimed that the ICC did not accept Pakistan’s demand.

PCB chairman Mohsin Naqvi wrote on X:
“The match referee violated the ICC Code of Conduct and the MCC Spirit of Cricket law. PCB has lodged a complaint with the ICC regarding this.”
He further wrote, “For me, nothing is more important than the honour of our country.”

Traditionally, at the toss, both captains shake hands, and after the match, players of both teams also exchange handshakes.
This practice was briefly stopped during the COVID-19 pandemic but has otherwise continued.

What Indian Captain Suryakumar Yadav Said on Handshake Issue:
In the post-match press conference, Suryakumar Yadav said:
“Some things are bigger than sportsmanship.”

Meanwhile, the BCCI clarified that the Indian captain or team did not violate any rule by not shaking hands.
Handshakes after matches are only a gesture of goodwill, a tradition, not a rule.
Therefore, the Indian team is under no obligation to shake hands with an opponent—particularly one with which relations have historically been strained.