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The insurance sector is poised for a major shift, with zero-commission standard products set to launch on the Bima Sugam platform from June 2026. The initiative aims to make insurance more affordable, transparent and simple, enabling customers to benefit directly. Sources told ET Now that motor insurance for new vehicles may roll out in June, followed by renewals from August.
Subsequently, health insurance products are expected to be introduced on the platform in August, with term insurance plans likely to follow by September 2026, leading to a phased rollout of all major insurance products.
What to expect?
- Zero-commission standard insurance products likely to be launched on Bima Sugam from June 2026
- Motor insurance policies for new vehicles likely to go live in June while renewals may start from August
- Health insurance products are expected to be introduced on the platform from August
- Term insurance plans are likely to be launched by September 2026
- Insurers may pay a 5-7 per cent platform fee instead of traditional commissions
- Lower premiums are likely as companies save on distribution costs
- Bima Sugam may offer standardised products with 6-7 add-ons on the platform
- Bima Sugam is expected to act as a one-stop platform for buying, renewal and claims
Timeline
The likely timeline for products on the Bima Sugam platform is as follows: motor insurance for new vehicles is expected to be launched in June, health insurance products in August, and term insurance products in September.
Stocks in focus
This shift could also affect listed insurance and fintech companies. Investors will closely track stocks such as PB Fintech, ICICI Lombard, Go Digit and Star Health, as the new model may impact their business and margins. Bima Sugam is expected to drive a major transition toward digital, low-cost insurance, offering customers more affordable policies and improved services.
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