Alliance Insurance launches insurance portal ‘SMEInsure’

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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