Protean eGov Technologies Ltd witnessed a 4% surge in its share price on June 10, 2025, following the announcement of a major ₹100 crore work order from the Bima Sugam India Federation (BSIF). The contract, awarded through a competitive RFP process, marks a significant milestone for Protean in India’s expanding digital insurance ecosystem.
BSIF, a not-for-profit entity backed by major players in the Indian insurance sector, is spearheading the development of Bima Sugam—a first-of-its-kind digital public platform aimed at creating a unified, nationwide insurance marketplace.
Under the awarded contract, Protean will serve as the Technology Solution Provider responsible for the end-to-end development, implementation, support, and maintenance of the Bima Sugam platform. The engagement also includes platform integrations and defining key marketplace protocols.
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