Home Credit India Launches New Products As Part Of Insurance Portfolio

Home Credit India, a local arm of the international consumer credit provider with operations in Europe and Asia and committed to fostering financial inclusion in India, today announced the launch of its new products as part of its insurance portfolio for existing and new customers. New products include family health insurance and pocket insurance from Bajaj Allianz General Insurance (credit linked health plan and group day care insurance). With the launch of these products, Home Credit India now offers a variety of simple, fast and hassle-free financial solutions.

The ongoing pandemic has resulted in increased interest and inclination in insurance and healthcare solutions. With a focus on health, Bajaj Allianz General Insurance Family Health Insurance offers insurance coverages on an individual and family floating basis. Home Credit India clients can cover themselves for a sum insured from INR 3 Lakh up to 5 Lakh. The policy includes hospital coverage for illnesses (including COVID-19) and accidental injuries as well as hospital cash benefit of INR 500 / per day. It will also cover daycare costs for selected procedures / surgeries at a hospital or daycare center. The policy also applies to Ayurvedic and homeopathic hospital charges.

The second product offering from Home Credit India is Pocket Insurance called Credit Linked Health Plan and Group Guard Insurance from Bajaj Allianz General Insurance. Starting at a premium of around INR 300 and available in 5 variations – Platinum, Gold, Silver, Bronze and Copper, Home Credit India offers an easy combination of benefits to its Point of Sale (PoS) customers. Depending on the needs and requirements of the customers, one can choose from these variants. These pocket-sized insurance options can be claimed for Hospital Allowance, Critical Illness Coverage, Personal Accident Coverage and Accidental Hospitalization. The maximum amount of coverage is up to INR 1 lakh depending on the type of pocket insurance used.

Marko Carevic, Director of Marketing and Customer Experience, Home Credit India said; “As a customer-centric business, Home Credit India offers innovative financial solutions with the priorities and needs of customers at heart. The launch of new products as part of our Insurance offers is a reflection of our customer-centric approach. We are confident that our insurance offerings will help clients provide financial security for their families and provide them with access to better medical care. Innovative products with simple processes are essential to allay customer concerns and increase insurance penetration in the country. “

“We are delighted to partner with India’s leading private general insurance company, Bajaj Allianz General Insurance, which is committed to providing top quality and innovative products,” he added.

Commenting on the occasion, Aashish Sethi, Head – Bancassurance for Private Banks & NBFCs, Bajaj Allianz General Insurance said: “Our partnership with Home Credit India will allow us to reach their large customer base and offer them products and solutions of innovative insurance meeting needs. We are confident that our customer-centric insurance solutions and digital sales experience will help our partnership grow stronger. “

Home Credit India clients can benefit from best-in-class products and services from leading private insurance players. In order to maximize the opportunity to serve a large customer base, Home Credit India, in addition to Bajaj Allianz General Insurance, also offers health insurance from HDFC ERGO General Insurance Company Ltd. and life insurance from Bajaj Allianz Life Insurance Company Ltd. to its customers. While health insurance covers medical expenses, life insurance provides financial protection for Home Credit India clients along with other guaranteed / variable benefits to enable them to achieve their life goals.

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