Universal Sompo General Insurance Company Ltd, a joint venture between Indian Bank, Indian Overseas Bank, Karnataka Bank, Dabur Investment Corp and Sompo Japan Insurance Inc has joined hands with BSE Ebix Insurance Broking Private Limited (BSE Ebix), a joint venture between BSE (Bombay Stock Exchange), the first stock exchange of Asia and Ebix Fincorp Exchange Pte Ltd in a bid to sell General Insurance products using strong distribution network of BSE Ebix in a completely digitized environment.
The alliance has been initiated with the recently launched offering of Universal Sompo’s Corona Kavach cover which is a short-term policy to cover COVID-19 related hospitalisation expenses through certified Point of Sales Persons (PoSPs) of BSE Ebix. Presently BSE Ebix has more than 7,200 registered PoSPs, and is growing daily.
Due to the rising cases of COVID-19, Insurance Regulator IRDAI had directed insurers to develop specialized products for covering the treatment cost of coronavirus. Corona Kavach policy addresses this very requirement of common man. The strategic association between Universal Sompo General Insurance and BSE EBIX will be enabling more people to avail insurance plans and protect themselves and their families against the deadly virus.
On the occasion, Ashishkumar Chauhan, Managing Director & CEO, BSE (Bombay Stock Exchange), said “We welcome Universal Sompo on BSE Ebix technology platform and with this addition we would be able to offer most customer-suited insurance covers across the country. We look forward to integrate entire range of products of Universal Sompo which can be sold through our strong network of PoSPs to add value to our overall insurance products offering”
Sharad Mathur, Managing Director & CEO, Universal Sompo General Insurance Company Ltd, said “We are rapidly increasing our distribution network and collaboration with BSE Ebix shall prove to be a great achievement. We would be able to offer a bouquet of products ranging from Corona Kavach to Arogya Sanjeevani and a variety of covers in due course of time through the extensive and ever increasing PoSP network of BSE Ebix. The product offering is completely digitized to provide best of the buying experiences to our customers through the network of BSE Ebix.