The Insurance Awareness Committee (IAC-Life) has welcomed the launch of the Bima Gram API by the Insurance Regulatory and Development Authority of India (IRDAI), describing it as a key policy intervention to enhance rural insurance coverage and strengthen India’s financial inclusion agenda. Developed by the National Informatics Centre in collaboration with the Ministry of Panchayati Raj, Department of Posts’ CEPT, and the Insurance Information Bureau of India, the API links postal PIN codes with Local Government Directory (LGD) codes, enabling insurers to digitally verify a policyholder’s Gram Panchayat (GP) location in real time.
The initiative addresses longstanding policy challenges in mapping insurance coverage to rural geographies, where most identification documents do not indicate GP details. By providing real-time verification and certification, the Bima Gram API reduces manual documentation, improves reporting accuracy, and facilitates compliance with IRDAI’s Rural and Social (RuSo) mandates. Pilot testing with five insurers—including life, health, and general companies—has been completed successfully, with full-scale adoption expected soon.
Local agencies anticipate streamlined verification, faster policy issuance, and better coverage of households, shops, and vehicles, supporting data-driven policy planning and inclusive growth. A member of IAC-Life stated, “Bima Gram API represents a strategic step in policy-driven rural insurance expansion, ensuring every household is accounted for and financial security reaches the grassroots.”