Insurance Regulatory and Development Authority of India (IRDAI) grants distribution licences to jUMPP

Exam-focused facts from the 26 May 2026 current affairs briefing.

Key facts

The IRDAI has granted regulatory approval to the conversational fintech application jUMPP to commence insurance product distribution.
The company secured Corporate Agency and Insurance Self Network Platform (ISNP) licences to enter the insurance distribution segment.
Founded in 2025, jUMPP currently provides digital financial services including investing, savings, payments, and borrowing.
The platform intends to partner with insurers to offer products across categories such as health, life, motor, business, and home insurance.
Sarvjeet Singh Virk serves as the founder and Chief Executive Officer (CEO) of jUMPP, where Artificial Intelligence (AI) will support product recommendations.