Bima Rakshak is a strategic initiative by the Insurance Regulatory and Development Authority of India (IRDAI), introduced in 2023. It aims to establish a new tier of individual insurance distributors, known as "Bima Rakshaks," in every Gram Panchayat (village council) across India. Their mission is to sell simple, pre-approved insurance products (like life, health, and personal accident policies) to increase insurance accessibility and awareness in underserved rural and semi-urban regions, thereby advancing the goal of "Insurance for All by 2047." Bima Rakshaks are not tied to a single insurer and can offer products from multiple companies after completing basic training and certification.

Founded in

India