ADD ANI AS A TRUSTED SOURCE
googleads
Menu
Business

Kotak Life Insurance, InstantPay join hands to tap a billion uninsured Indians

Mumbai (Maharashtra) [India], Dec 11 (ANI/BusinessWire India): InstantPay, one of India's largest inclusive and neo Banking platform, has entered into a strategic partnership with Kotak Mahindra Life Insurance Company Limited to reach out to the billion uninsured and underbanked population of India, including the urban migrant.

ANI Dec 11, 2019 17:50 IST googleads

InstantPay logo

Mumbai (Maharashtra) [India], Dec 11 (ANI/BusinessWire India): InstantPay, one of India's largest inclusive and neo Banking platform, has entered into a strategic partnership with Kotak Mahindra Life Insurance Company Limited to reach out to the billion uninsured and underbanked population of India, including the urban migrant.

This alliance will not only bring insurance to first-time consumers but will also digitally empower the semi-urban sections of the society. InstantPay will deploy its extensive network of more than 1 lakh merchants to distribute Kotak Life Insurance's products via the InstantPay portal or app, which have an annual premium as low as Rs 200!

Piyush Trivedi, Senior EVP, Sales, Alternate Channel at Kotak Mahindra Life Insurance Co. Ltd. said, "The next billion uninsured Indians remain a frontier waiting to be tapped by life insurers in India. It will require the right mix of products, processes and distribution to make a dent in this virtually unpenetrated segment. We believe that Kotak Life insurance has the right set of products that will work very well in the fin-tech segment. Pay-techs like Instantpay will help us distribute over-the-counter life covers to the mass market in byte size digital sachets."

Shailendra Agarwal, CEO, InstantPay said, "We believe that there is a huge opportunity to sell insurance to the underbanked if only the products are made simpler and more affordable. With the objective of securing the lives of millions, InstantPay decided to launch life insurance products on its platform, in partnership with Kotak Life Insurance. Kotak Life is one of the most credible names in the insurance industry and we are excited to launch our insurance vertical with products relevant to the mass market."

Recently, InstantPay received the Corporate Agency license from the Insurance Regulatory Development Authority (IRDA). The company aims to develop innovative and relevant insurance products for the customers in tier-2 and 3 cities.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/ BusinessWire India)

Get the App

What to Read Next

Business

Piyush Goyal meets global industry leaders to deepen trade ties

Piyush Goyal meets global industry leaders to deepen trade ties

The meetings were inclined towards bolstering India's manufacturing capabilities and deepening its integration into global supply chains. The discussions focused on expanding investment partnerships and enhancing India's role as a critical hub in the Indo-Pacific region.

Read More
Business

Bajaj General Insurance Releases Guide to Lowering Car Insurance

Bajaj General Insurance Releases Guide to Lowering Car Insurance

Pune (Maharashtra) [India], March 12: Car insurance renewal is often seen as a routine administrative task, but it is much more than that. It presents an excellent opportunity to review your existing policy, assess whether your coverage still matches your needs, and take steps to optimise your premium. By understanding the key factors that influence car insurance costs, such as vehicle value, driving history, add-ons, and usage patterns, you can make informed adjustments that reduce expenses without compromising protection. Thoughtful planning and small, strategic choices at renewal can help you save money, maintain comprehensive coverage, and enjoy greater peace of mind on the road.

Read More
Business

DES Pune University’s Flagship Campus Platforms Drive Holistic

DES Pune University’s Flagship Campus Platforms Drive Holistic

Pune (Maharashtra) [India], March 12: DES Pune University continues to strengthen its vibrant campus life through its flagship academic, cultural, sporting, and research-driven initiatives - AAROHAN, RANANGAN, PARAMPARA, NAVONMESH, ETFI, and POV, creating a dynamic ecosystem that promotes experiential learning, creativity, leadership, innovation, and overall student development.

Read More
Business

'Iran conflict amplifies insurance risk, but losses manageable'

'Iran conflict amplifies insurance risk, but losses manageable'

Insurers and reinsurers that provide coverage of complex risks such as marine, aviation and political violence are likely to face outsized claims as a result of the ongoing Iran conflict, said Moody's Ratings.

Read More
Business

Hong Leong Islamic Bank Enters New Era as "HLB Islamic"

Hong Leong Islamic Bank Enters New Era as

Kuala Lumpur [Malaysia], March 12: As a strategic move to refresh and strengthen its core vision, Hong Leong Islamic Bank ("HLB Islamic" or the "Bank") is transitioning to a refreshed consumer-facing brand identity, now known as HLB Islamic, and a strengthened core proposition that approaches financial services not as a series of siloed products and transactions, but as total wealth stewardship through a Shariah-principle-guided life-cycle approach known as Hayat @ HLB Islamic. This evolution is rooted in the Bank's new philosophy, 'Timeless Principles Guiding Tomorrow's Wealth', introduced during its 20th anniversary last December to signal a new chapter in wealth stewardship.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.