Universal Sompo General Insurance Company Ltd has collaborated with BSE EBIX Insurance Broking Private Limited (BSE EBIX ) to sell General Insurance products in a fully digital environment using the distribution network of BSE EBIX. The partnership was initiated with the issuance of the recently launched Corona Kavach cover of Universal Sompo General Insurance Company Ltd through certified Point of Sales Persons (PoSPs) of BSE EBIX.
Note– Currently there are 7,200 registered PoSPs and it is growing daily.
Key Info
The partnership will enable more people to avail insurance plans and protect themselves and their families from COVID-19.
Corona Kavach cover:
General meaning– It is a short-term policy to cover COVID-19 related hospitalization expenses.
Purchase– It can be purchased on individual or family floater basis for a period of 3.5, 6.5 or 9.5 months.
Minimum & Maximum– It offers a minimum sum of Rs 50,000 to maximum Rs 5 lakh (in multiples of Rs 50,000) for COVID-19 related hospitalization expenses.
Cost and charges covered
It covers the following namely, ICU and ventilator charges at hospitals; cost of PPE kit, gloves, mask and other similar expenses incurred during treatment of COVID-19.
In addition to this, it also provides cover for Home Care Treatment Expenses including cost of Pulse Oximeter and Oxygen cylinder, if advised by a Medical Practitioner.
Recent Related News:
i.HDFC Bank announced that it will offer ‘ZipDrive’, an online instant auto loan to its customers in 1,000 cities.
ii.Karnataka Bank launched a new product ‘KBL Micro Mitra’ for Micro, Small and MediumEnterprises(MSMEs). This product will provide financial assistance up to Rs 10 lakhs to the Micro manufacturing and service enterprises for working capital or for investment purposes.
About Universal Sompo General Insurance Company Ltd:
It is a joint venture between Indian Bank, Indian Overseas Bank, Karnataka Bank, Dabur Investment Corp and Sompo Japan Insurance Inc.
Headquarters– Mumbai, Maharashtra
MD & CEO– Sharad Mathur
About BSE EBIX:
It is a joint venture between BSE (formerly Bombay Stock Exchange), the first stock exchange of Asia and EBIX Fincorp Exchange Pte Ltd
Headquarters– Mumbai, Maharashtra
Director- Shri Robin Raina, Shri Neeraj Kulshrestha, Shri Nayan Mehta
