true balance, a fintech app has partnered with Toffee Insurance, a Gurgaon-based insurtech startup as its Insurance partner.
Four Insurance policies by Toffee Insurance namely Mosquito Insurance, Daily Commute Insurance, Biker Insurance and Daily Cash Plan will be available under the new Insurance feature on the true balance app for the customers.
The partnership between Toffee Insurance and true balance aims to offer swift and easy access to micro-insurance policies to the users of true balance.
Toffee Insurance via its low premium insurance policies caters to day to day risks of the consumers. The four products that can now be bought on the true balance app are customised and already successfully available to consumers of Toffee Insurance.
true balance, operated by Balancehero India Private Limited (BHI), the wholly-owned subsidiary of Balancehero Co. Ltd., Korea is a popular choice for Prepaid Balance and Recharges, Utility Bill Payments, Gift Cards, True PayLater & Recharge Loan.
“We are happy to partner with Toffee Insurance to come up with new insurance policies starting at just Rs. 118 that can be availed by rural India. Our foray into the insurance category is aligned with our vision to bring a transformation in the current financial landscape and provide financial inclusion to the next billion in India,” said Charlie Lee, Founder of true balance.
Currently, true balance reports three lakh transactions daily and aims to ensure financial freedom to primarily unbanked segments by offering them a safe, fast and convenient transacting experience while also including them under the gamut of financial inclusion right on their doorstep.
“We are delighted with the opportunity of partnering with a ‘One Stop Payment’ smart app like the true balance that considers serving the needs of the massive Tier 2 and Tier 3 Indian population. We aim to wrap the entire selling-to-claims experience in a brilliant end-to-end product-like journey, rather than insurance-like and this association is a nudge in the right direction,” said Rohan Kumar, CEO and Co-Founder of Toffee Insurance.
