Current Affairs PDF

PayNearby tie-up with IndiaFirst Life Insurance Launched Insurance Solutions – ‘Poorna Suraksha’ for Retailers

AffairsCloud YouTube Channel - Click Here

AffairsCloud APP Click Here

PayNearby ties up with IndiaFirst Life Insurance to provide insurance solutionsPayNearby, India’s largest Hyperlocal fintech startup, in collaboration with IndiaFirst Life Insurance Company Limited, launched first of its kind, a cost-effective, 3-in-1 insurance solution named ‘Poorna Suraksha’ to safeguard its 15+ lakh Retail Partners during the COVID-19 and beyond.

Key Facts about ‘Poorna Suraksha’:

i.The insurance solution, a part of PayNearby’s Shop Owners Benefit Program will provide coverage across all aspects of insurance including Life, Health & Disability at an affordable premium.

ii.It offers a life cover of Rs 2 lakhs, disability cover of Rs 1 lakh and hospital cash of Rs 15,000.

iii.Cost-effective: The solution could be availed by retailers at a premium of just Rs 3 per day, and an enrollment fee of Rs 111.

iv.As the entire process of Poorna Suraksha is digital, the processing happens in a couple of minutes with immediate issuance of the cover and the COVID-19 hospitalisation cover starts after the 15th day of enrollment.

v.There are no waiting periods involved under the policy for life insurance and hospitalization due to accidents.

Recent Related News:

PayNearby Technologies Pvt. Ltd., in collaboration with YES Bank and National Payments Corporation of India (NPCI), launched the “PayNearby shopping card” powered by RuPay for its retail partners to provide maximum benefits of e-commerce in a risk-free mode over the mass-market category.

About PayNearby Technologies Pvt. Ltd(PayNearby):

It is a Department for Promotion of Industry and Internal Trade (DPIIT) Certified Fintech Company registered under The Startup India program of the Government of India

Establishment – April 2016
Headquarters – Mumbai, Maharashtra
Founder, MD & CEO – Anand Kumar Bajaj

About IndiaFirst Life Insurance Company Limited:

Establishment – 2009
Headquarters –  Mumbai, Maharashtra
MD & CEO – R. M. Vishakha