Bajaj Allianz Life has become the first mainstream insurer to implement the BIMA-Application Supported by Blocked Amount (Bima-ASBA) facility. This initiative, launched by the Insurance Regulatory ...

Bajaj Allianz Life has become the first insurer to go live with the BIMA-Application Supported by Blocked Amount facility (Bima-ASBA). Bima-ASBA is the Insurance Regulatory and Development ...

Bajaj Allianz Life has become the first insurer to go live with the Bima-ASBA facility. The initiative aligns with the Insurance Regulatory and Development Authority of India's (IRDAI) efforts to ...

Bajaj Allianz Life has announced that it will go live with the Bima-Application Supported by Blocked Amount (Bima-ASBA) facility. Bima-ASBA is an initiative introduced by the Insurance Regulatory ...

Bajaj Allianz Life Insurance Company (BALIC) has gone live with the BIMA - Application Supported by Blocked Amount facility (Bima-ASBA), which will bring operational ease, enhance policyholder ...

Insurance Regulatory and Development Authority of India (Irdai) has directed life and health insurers to provide Bima-ASBA, a facility wherein a policyholder blocks the amount towards premium in his ...

Insurance Regulatory and Development Authority of India (Irdai) has directed life and health insurers to provide Bima-ASBA, a facility wherein a policyholder blocks the amount towards premium in ...

The initiative called Bima-ASBA (Applications Supported by Blocked Amount) starts March 1 and will allow policyholders to block funds in their bank accounts via the Unified Payments Interface (UPI), ...

The Insurance Regulatory and Development Authority of India (IRDAI) has introduced a new payment mechanism called Bima-ASBA (Applications Supported by Blocked Amount) via Unified Payments ...

Bima-ASBA enables policy seekers to authorize a one-time mandate (OTM) via UPI, blocking a specified amount in their bank account for premium payment. The blocked amount remains untouched until ...

If the policy is not approved by the insurance company, the blocked amount will be released. The Insurance Regulatory Development Authority of India (IRDAI) has launched a new payment method- Bima ...

The blocked funds remain in the policyholder’s account until underwriting decisions are made. Upon issuance of the policy, the premium will be debited. If rejected, the amount will be automatically ...