Mumbai, Maharashtra, India (NewsVoir) HDFC ERGO General Insurance, India’s leading private sector insurance company, announced its partnership with Visa, the market leader in digital payments. The partnership provides curated insurance coverage for Visa business card holders.
Initially, the partnership offers two insurance products – Business SurakshaClassik and my: Credit Personal Accident Insurance Group Policy: 1. The Business SurakshaClassik Policy offers small traders and shopkeepers a security mechanism against accidents caused by fire, floods, earthquakes, break-ins, cash in a safe, etc. with extended additional services in the area of fire such as spontaneous combustion, waiver of underinsurance up to 15%, increased upper limits for architect / expert fees and debris removal.
2. The group policy of my: Credit personal accident insurance is roughly divided into two different insurance offers that can be individually adapted, namely accident protection and permanent disability plan. In the context of accident protection, the sum insured is paid out to an individual (or an individual’s family) if the insured suffers damage as a result of an accident which is the sole and immediate cause of death within twelve months of the occurrence. If the insured person is permanently disabled as a result of an accident, the permanent disability benefit covers the person in accordance with the sum insured under the plan.
Regarding the partnership, Mr. Ankur Bahorey, President – Bancassurance Business, HDFC ERGO General Insurance Company said, “Traditionally, SMB owners have paid limited attention to business risk management, which often leaves them vulnerable to various factors such as theft, acts of God, unforeseen health conditions , Loss of income for reasons beyond their control, etc. You must also consider employee benefits, asset & liability management and; most importantly; Family protection. We believe that SMEs now need to develop a prudent financial strategy to navigate through such unplanned and unfortunate incidents. With this connection, we will provide solutions and a sense of security to SMB owners and their respective employees. “Mr. Manish Daswani, Head – Business Solutions, India and South Asia, Visa, said:” Small businesses are among the most vulnerable to the pandemic affected businesses, and Visa remains committed to helping them navigate and succeed in the new normal. We are excited to partner with HDFC ERGO to offer special insurance solutions to our Visa business card holders. These tailor-made plans have been created with the needs of MSMEs in mind and aim to ensure the financial well-being and security of our cardholders and their companies Credit limit of a single cardholder and is subject to a term of 1 year. In addition, adults between the ages of 18 and 60 can opt for this policy. The policy is individual and its benefits are only available to Visa customers.
The story goes on
HDFC ERGO is a ‘Digital First’ insurance company and has used technology to develop an exclusive portal for Visa customers. Customers can view the product details or buy from the following links: • Business SurakshaClassik bit.ly/3oTKO8A • my: Credit Personal Accident-Group – bit.ly/34iCpSS About HDFC ERGO HDFC ERGO General Insurance Company is a joint venture between the Housing Development Finance Corporation Ltd. (HDFC) and ERGO International AG; the primary insurance company of the Munich Re Group Germany. The JV was founded in 2008 with the complementary skills and strengths of both companies. HDFC ERGO offers the full range of non-life insurance products including automotive, health, home, agriculture, travel, credit, cyber and personal injury in retail and property, marine, engineering, marine cargo, group health and liability insurance in corporate. The company also offers a range of products for rural India including GraminSuraksha, ParivaarSuraksha, crop, weather and beef insurance. Innovative insurance products such as Mosquito Disease Protection Policy, E @ secure, Title and Solar Energy Shortfall Insurance have also set milestones in the way that insurance companies can adapt and serve whatever customers need.
In recent years, HDFC ERGO has made constant efforts not only to align itself to changing market requirements, but also to be a pioneer with its offers. The down-to-earth ears have helped HDFC ERGO develop a range of highly targeted new products and AI-based tools and technologies. Whether unique insurance products, integrated customer service models, first-class claims processing or a variety of technologically innovative solutions – the company was able to inspire its customers at every touchpoint and every milestone. The company is a leader in using technology to improve the reach and impact of insurance in the country.
The company recently announced the completion of the merger of HDFC ERGO Health Insurance (formerly Apollo Munich Health Insurance) with HDFC ERGO, which took effect on November 13, 2020. This merger was the second successful merger in Indian general insurance general after the merger of L&T General Insurance in 2017.
With a broad sales network and a 24×7 support team, the company offers its customers seamless customer service and innovative products. Please log on to www.hdfcergo.com for more information about HDFC ERGO and the products and services offered by the company.
About Visa Visa Inc. (NYSE: V) is the world’s leading provider of digital payments. Our mission is to connect the world through the most innovative, reliable, and secure payment network – so that individuals, businesses, and economies can thrive. Our advanced global processing network VisaNet provides secure and reliable payments around the world and is capable of processing more than 65,000 transactional messages per second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on every device for everyone, everywhere. As the world moves from analog to digital, Visa is leveraging our brand, products, people, network and size to reshape the future of commerce.
For more information, see About Visa, Visa Blog, and @VisaNews.
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