- Expands Insurance Portfolio: launches Bajaj Allianz General Insurance’s Family Healthcare Insurance and Pocket Insurance (Credit linked Health plan & Group Guard Insurance)
- Broadens financial offerings to its over 11.3 million loan customers
New Delhi, October 12, 2020: Home Credit India, a local arm of the international consumer finance provider with operations spanning over Europe and Asia and committed to drive financial inclusion in India, today announced the launch of their new products under its Insurance portfolio for existing and new customers. The new products include Bajaj Allianz General Insurance’s Family Healthcare Insurance and Pocket Insurance (Credit linked Health plan & Group Guard Insurance). With the launch of these products, Home Credit India now offers a variety of financial solutions which are easy, quick and hassle free.
The ongoing pandemic has resulted in an increased interest and inclination towards healthcare insurance and solutions. With focus on health, Bajaj Allianz General Insurance’s Family Healthcare Insurance offers insurance covers on an individual and family floater basis. Home Credit India customers can cover themselves for a Sum Insured starting from INR 3 Lakh upto 5 Lakh. The policy comes with a hospitalization cover for illnesses (including COVID-19) and accidental injuries along with a Hospital Cash Benefit of INR 500/-per day. It will also cover daycare expenses for procedures/surgeries opted at a Hospital or Daycare center. The policy is applicable for Ayurvedic and Homeopathic Hospitalization expenses as well.
The second product offering by Home Credit India is Pocket Insurance called Credit linked Health plan and Group Guard Insurance by Bajaj Allianz General Insurance. Starting with a premium of approximately – INR 300 and available in 5 variants – Platinum, Gold, Silver, Bronze and Copper, Home Credit India offers easy combination of benefits to customers at its Point of Sales (PoSes). Basis the needs and requirements of customers, one can choose from these variants. These Pocket size Insurance options can be claimed for hospital cash allowance, critical illness cover, personal accident cover and accidental hospitalization. Maximum coverage amount goes up to INR 1 lakh depending on the type of Pocket Insurance availed.
Marko Carevic, Chief Marketing & Customer Experience Officer, Home Credit India said; “As a customer focused company, Home Credit India provides innovative financial solutions keeping customers’ priorities and needs at heart. The launch of new products under our Insurance offerings is the reflection of our customer focused approach. We are certain that our insurance offerings will help customers provide financial security to their families and enable them with access to better medical care. The innovative products with simple processes are key to easing customer anxieties and increase insurance penetration in the country.”
“We are pleased to partner with India’s leading private general insurance company, Bajaj Allianz General Insurance, who is committed to offer superior and innovative products,” he added.
Commenting on the occasion, Mr. Aashish Sethi, Head – Bancassurance for Private Banks & NBFCs, Bajaj Allianz General Insurance said, “Our partnership with Home Credit India will enable us to reach their widespread customer base and offer them innovative insurance products and solutions catering to their needs. We are confident that our customer centric insurance solutions and digital sales experience will help our partnership grow from strength to strength.”
Home Credit India customers can avail best in class products & services from the leading private insurance players. To optimize the opportunity of serving a large customer base, Home Credit India in addition to Bajaj Allianz General Insurance, also provides health insurance from HDFC ERGO General Insurance Company Ltd. and life insurance from Bajaj Allianz Life Insurance Company Ltd. to its customers. While health insurance provides coverage for medical expenses, life insurance provides financial protection to Home Credit India customers along with other guaranteed/variable benefits to enable them get their life goals.