E BUSINESS BUREAU
MUMBAI, DEC 9
SBI General Insurance on Wednesday announced that it has partnered with Mahindra Insurance Brokers Ltd (MIBL) to raise its penetration in tier-II and III cities.
This association will enable the company to provide health insurance cover to a significant number of people in tier-II and III cities and generate employment, SBI General Insurance said in a release on Wednesday.
Under this ”Sajhedaari programme”, the insurer said it hopes to make a significant milestone in realising its vision to be the most trusted general insurer.
SBI General is also associated with MIBL for a new car, commercial vehicle, tractors and used-car insurance, it said.
In the digital space also, SBI General has partnered with PAYBIMA, a digital platform by MIBL for providing affordable insurance solutions, the insurer added.
SBI General Insurance MD and CEO P C Kandpal said, “The pandemic has brought to fore a large part of our population that do not have health insurance to finance their medical expenditures. The most pressing requirement at this moment for us is to ensure that the ”missing middle” is tapped and insured.”
This tie-up is an important enabler in the company’s strategy to meet the insurance needs of the customers in tier-II and III cities, he said.
Mahindra Insurance Brokers Ltd Managing Director Jaideep Devare said Sajhedaari programme is a socially inclusive initiative designed to identify, train and certify a point of salespersons for insurance distribution while enabling deeper insurance penetration in the country.
He added, “We are confident that through our collective efforts, we will empower people with knowledge about health policies, especially in the under-served and under-penetrated rural areas of our country.”
SBI General’s gross written premium during 2019-20 stood at Rs 6,840 crore, registering a growth of 45 percent from a year ago.
