In 2025, India's insurance sector saw major shifts with the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025 enabling 100% FDI, fostering competition, alongside tech booms in Artificial Intelligence/Machine Learning (AI/ML) for underwriting & claims, a surge in digital policy
The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, passed by the Parliament this week, is expected to improve insurance penetration, operational efficiency, and market resilience, advancing insurance for all by 2047, according to CareEdge Ratings.
Parliament on Wednesday passed the 'Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025', with Finance Minister Nirmala Sitharaman assuring members that opening up the sector will attract new insurers, intermediaries and allied service providers, expanding the overall insuran
According to the list of business, Sitharaman will seek permission to introduce a Bill, which proposes amendments to three major legislations governing the insurance sector, the Insurance Act, 1938, the Life Insurance Corporation Act, 1956, and the Insurance Regulatory and Development Aut