● The partnership offers Hospicash, providing daily hospitalization benefits tailored to customer needs
● It will also streamline insurance access to regional rural areas of India
SBI General Insurance, one of India’s leading general insurers, has entered into a strategic partnership with BLS E-Services to deliver essential insurance products to a broader range of customers across India. This collaboration is set to expand SBI General Insurance’s footprint, particularly in rural and regional areas, offering customers innovative products such as Hospicash, vehicle insurance, personal accident insurance, and shop insurance.
Hospicash, a flexible income protection plan that offers daily hospitalization benefits to those who are primarily earning their livelihood daily and giving a security of not losing on it. Customers can choose between ₹1,000 and ₹2,000 daily benefits, tailoring the coverage to their specific needs to secure their financial well-being during medical emergencies.
Through this partnership, SBI General Insurance strengthens its mission to deliver tailored insurance solutions to diverse customer segments. By leveraging BLS E-Services’ network of over 40,000 customers, SBI General Insurance can now offer its products more efficiently, especially in underserved communities. Customers will benefit from:
● Easy access to a wide range of insurance products
● Simplified policy management through BLS E-Services
● Faster claim processing and enhanced customer support
SBI General Insurance spokesperson Ms. Priya Sampath Kumar said, “Our partnership with BLS E-Services isn't just about expanding our reach – it's about reimagining the insurance experience for the digital age. We're excited to leverage BLS's innovative platform to create more personalized, responsive insurance solutions. This collaboration will allow us to gather real-time insights into customer needs, driving product innovation and setting new benchmarks in customer-centric insurance services.”
Commenting on the partnership, Mr. Shikhar Aggarwal, Chairman, BLS E-Services said, “This collaboration represents a pivotal moment in our journey towards financial inclusion. By bringing insurance products, we're not just facilitating transactions – we're empowering individuals and businesses also to secure their futures with confidence. This is about transforming the way India thinks about and accesses insurance.”
About SBI General Insurance:
SBI General Insurance, one of the fastest-growing private general insurance firms, backed by the robust support of SBI upholds a legacy of trust and security. We position ourselves as India's most trusted general insurer amidst a dynamic landscape. Since our establishment in 2009, our expansion has been substantial, growing from 17 branches in 2011 to a nationwide presence of over 143 branches. In FY 2023-24, SBI General Insurance achieved significant growth, with a notable 17% increase in Gross Written Premium (GWP), reaching INR 12,731 crores.
The company has also received notable accolades including the ‘Domestic General Insurer of the Year’ – India at the Insurance Asia Awards 2023 in Singapore, recognition as one of the Best Brands 2023 at the ET Edge Best Brands events and being honoured as one of the Best BFSI Brands at the ET Now Best BFSI Brands Conclave 2024. We have also received recognition as the runner-up for Highest Growth – General Insurance at the ASSOCHAM 15th Global Insurance Summit & Awards and were named the winner in the ‘Best Large General Insurer’ category at the Mint BFSI Summit & Awards 2023.