Digital Insurer Edelweiss General Insurance (EGI) has joined hands with Ashv Finance, a tech-led NBFC present in over 100 locations in India, to offer financial protection to latter’s business loan borrowers, according to the insurer.
While Ashv is offering timely credit to fund the growth aspirations of small businesses and MSMEs, EGI will ensure that there are no brakes in achieving their dreams by offering health insurance cover to safeguard the financial interest of this very important segment.
As part of the deal, EGI will offer health insurance cover to all the customers of Ashv Finance in all major cities across the country. The policy will provide security against the business loan taken in case the borrower has an unfortunate incident of accident or critical illness, the report said.
The policy will also provide daily cash benefit in case of any hospitalization. Cover offered will depend on the loan amount and loan tenure opted by the customer, according to a company statement.
Shanai Ghosh, executive director & CEO, Edelweiss General Insurance, said, “We are happy to offer health protection to a sector that is driving GDP growth and augmenting overall economic activity in the country. Our partnership with Ashv Finance will help us reach out to a sizeable number of small business owners across the country and offer them easy and friendly, tech powered solutions, coupled with superior customer experience”, the report said.
The business loan and the insurance policy will be processed together, digitally and with zero paperwork, offering complete ease and convenience to customers.
Nikesh K. Sinha, managing director, Ashv Finance, said, “We are pleased to introduce a health protection coverage, in partnership with Edelweiss General Insurance to our business loan customers that shall safeguard the repayment of their loans in case of any unforeseen accident or illness. As a lender to one of the biggest drivers of the Indian economy, it is imperative for us to protect and support the business owners in their journey towards growth.” (Live Mint)
