Current Affairs   »   Alliance Insurance launches insurance portal ‘SMEInsure’

Alliance Insurance launches insurance portal ‘SMEInsure’

Alliance Insurance launches insurance portal 'SMEInsure'_50.1

Alliance Insurance has launched the insurance portal ‘SMEInsure’ in order to provide financial security to Micro, Small and Medium Enterprises (MSMEs), small shop and business owners Alliance. It is a portal to insure 5 crores Small and Medium Enterprises (SMEs) under the insurance category.

Notably, the portal will provide insurance services in a phygital formate. physical, through individual personal assistance and digital insurance through the portal. The target of Alliance Insurance is to reach more than 5 crore SMEs in the first year and expect revenue of Rs 10 crore. Approximately 97% of the SMEs in India are not insured.

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Important Points:

  • Its objective is to help SMEs in managing multiple risks through a single platform ranging from buying insurance, renewing cover to filing claims.
  • This portal will provide options to choose and compare products from various well-known insurance services including HDFC Ergo, Bajaj Allianz, Iffco Tokio, Tata Aig, Liberty General Insurance, Raheja QBE, Reliance General Insurance, and SBI General.
  • SMEs can get their businesses insured for professional indemnity, director and officers, marine, fire and burglary etc
  • In the first phase, the company will focus on the hospitality industry, shop owners, salon, offices and educational institutes.

Important takeaways for all competitive exams:

  • Alliance Insurance CEO & Principal Officer: S. V. Thakkar.
  • Alliance Insurance Headquarter: Mumbai, Maharashtra.

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Alliance Insurance launches insurance portal 'SMEInsure'_70.1

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