Mumbai, October 31st, 2025 – BimaPay, a fast-growing digital lending and insurance financing platform backed by Mufin Green Finance, has been awarded the prestigious “InsurTech of the Year” title at the IIA Awards 2025. The recognition highlights BimaPay’s pioneering role in reshaping insurance access and affordability through technology-led solutions for individuals, enterprises, and the gig workforce.
Hosted by the Indian Insurance Association, the IIA Awards celebrate excellence and innovation across the insurance ecosystem. BimaPay’s win reinforces its commitment to building a seamless, transparent, and inclusive insurance infrastructure for India’s evolving financial landscape.
BimaPay has emerged as a catalyst in enabling more Indians to secure protection through simplified digital journeys, flexible premium financing, and integrated insurance solutions. With advanced automation and embedded-insurance capabilities, the platform serves both salaried individuals and large employer networks.
“Our mission has always been to make insurance accessible, transparent, and relevant for every worker, whether in a large enterprise, a small business, or the gig economy,” said Hanut Mehta, co-founder & CEO at BimaPay. “Being named InsurTech of the Year at the IIA Awards 2025 is a validation of our team’s relentless focus on innovation and the trust placed in us by our customers and partners. We’re excited to build on this momentum as we continue to increase insurance penetration in India.”
Also commenting on the recognition, Mohit Gupta, co-founder & CTO at BimaPay, said, “Winning the InsurTech of the Year award is not just a milestone for BimaPay but a reaffirmation of the purpose we started with: to bridge the gap between technology and meaningful financial protection. This recognition motivates us to continue innovating responsibly, strengthening trust in the insurance ecosystem, and shaping a future where protection is not a privilege but a default.”
Kapil Garg, co-founder and group promoter at BimaPay, added, “This award reflects the shared vision of the BimaPay and Mufin Green Finance teams to empower every individual with access to financial protection and inclusion. It’s a proud moment that inspires us to continue driving innovation with purpose.”
With this achievement, BimaPay further strengthens its position as a key driver of digital transformation within India’s insurance landscape. The company remains focused on expanding its product capabilities, deepening partnerships, and building scalable, tech-driven solutions that address the evolving needs of individuals and businesses.
As BimaPay looks ahead, this recognition serves as a strong validation of its mission to enhance financial protection and accessibility for millions across the country.
