Shivalik Small Finance Bank (SSFB), has announced a strategic partnership with Bengaluru-based insurtech company, Go Digit General Insurance, to provide an array of instant, easy-to-understand insurance products through the bank’s network of branches across India. This will include health insurance plans, motor insurance, and home and shop insurance.
Being a progressive Indian bank, Shivalik has a strong digital-first approach aimed at customer convenience. The bank offers an unparalleled range of services, placing banking at every individual’s fingertips. This partnership will enable over 4.5 lakh customers of Shivalik Small Finance Bank to instantly access and purchase from Digit’s comprehensive list of offerings, through paperless processes, in real time. This range of customer-centric products will be available to the customers of Shivalik Small Finance Bank across all its 31 branches and its digital network across the country.
With an aim to offer simple and transparent insurance solutions, Digit’s products will equip Shivalik’s customers with smooth customer experience, by way of leveraging new-age technology.
Commenting on the partnership, Harsh Mittal, Chief Financial Officer, Shivalik Small Finance Bank said, “At Shivalik, we are committed to constantly innovating and adding new products and services to expand our offerings to the underbanked masses. Our collaboration with Go Digit General Insurance will aid us in making the process of buying cover, submitting claims and receiving payments easier for our customers, supported by our digital distribution network which reaches the far ends of Bharat.”
Delighted about the partnership, Vijay Kumar, CEO and Principal Officer, Go Digit General Insurance said, “Our partnership with Shivalik Small Finance Bank comes at a time when we are looking to expand our reach to newer markets with an aim to aid insurance penetration. The bank has a strong foothold in the northern states of the country and this association will help the bank’s customers in getting insured from a partner that believes in simplicity, transparency and hassle-free settlement of claims. Since inception, Digit has offered products with relevant covers by leveraging technology and we are certain that this will benefit the customers of Shivalik Small Finance Bank.”
Shivalik Small Finance Bank’s current customers predominantly fall into segments such as retail, manufacturing and services, housing and real estate and microfinance. As part of its Small Finance Bank proposition, Shivalik is actively engaged in discussions with multiple fintech partners to reach newer customer segments like entrepreneurial and underbanked women, kirana stores, millennials in need of neo banking services and individuals looking for gold loans.
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