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JOHNS CREEK, Georgia, 20 August 2020 (GLOBE NEWSWIRE) – BSE Ebix Insurance Broking Private Limited (BSE Ebix) announced its partnership with Universal Sompo General Insurance Company Ltd, a joint venture between Indian Bank, Indian Overseas Bank, Karnataka Bank, Dabur Investment Corp and Sompo Japan Insurance Inc.BSE Ebix is a joint venture between BSE (Bombay Stock Exchange), Asia’s largest inventory exchange, and Ebix Fincorp Exchange Pte Ltd, a subsidiary of Ebix, Inc.(NASDAQ: EBIX)
The alliance aims to sell general insurance products BSE Ebix’s robust distribution network in a fully digitized environment.The partnership began with the Corona Kavach awning offer recently submitted by Universal Sompo, which is a short-term policy to cover hospital prices related to COVID-19 through BSE Ebix Certified Points of Sale (PoSP).Currently, BSE Ebix has more than 7,200 PoSPs registered and is developing every day.
Due to the increase in the number of COVID-19 cases, the IRDAI insurance regulator had asked insurers to design a specialized product to cover the burden of coronavirus treatment Crown Kavach’s policy is designed to address this need from the general public.The strategic partnership between Universal Sompo General Insurance and BSE Ebix will allow more people to gain advantages from insurance plans and themselves and their families from the fatal virus.
The Corona Kavach policy can be purchased from an individual foundation or a circle of family members for an era of 3.5, 6.5 or 9.5 months. It offers a variety of insurance policies for hospital prices related to COVID-19. The policy covers the charge of the EPI kit, gloves, mask and other similar expenses incurred by the COVID-19 remedy.The policy also covers the prices of respirators and extensive care in the hospital.It also covers the prices of home remedies, adding the charge of the pulse oximeter and oxygen bottle, if requested through the doctor.
Ashishkumar Chauhan, Managing Director and CEO of BSE (Bombay Stock Exchange), said: “We welcome Universal Sompo to the BSE Ebix generation platform and, with this burden, we would be offering the maximum insurance policy for consumers across the country.. We look forward to integrating Universal Sompo’s full range of products, which can be sold through our robust PoSP network to raise the price to our global insurance offering.”
Sharad Mathur, Managing Director and CEO of Universal Sompo General Insurance Company Ltd, said: “We are expanding our distribution network and working with BSE Ebix will be a wonderful success.We could offer a package of products ranging from Corona Kavach to Arogya Sanjeevani and a variety of coverages over time through BSE Ebix’s extensive and growing PoSP network.The product offered is completely digitized to offer the most productive grocery shopping for our consumers through the Ebix BSE network.
About Universal Sompo General Insurance
Universal Sompo is the first public-private partnership in India’s general insurance sector.The company is headquartered in Mumbai and is a joint venture between Indian Bank, Indian Overseas Bank, Karnataka Bank Ltd, Dabur Investment Corp and a leading general insurer in Japan, Sompo Japan Insurance Inc.
Universal Sompo operates throughout India through its 86 branches and 17 zone offices.It offers a wide variety of products for retail, rural, SME and corporate visitor segments.It innovates in the fitness insurance box and offers independent policies and co-branded products in collaboration with its banking partners.Continue to invest in generation to quickly and smoothly supply visitors.It serves its customers through an extensive distribution network of banks, branches, agents, brokers, car dealerships, POSP, CSC, etc.The corporation has also designed express products for rural and semi-urban markets.
About BSE
BSE (formerly Bombay Stock Exchange), founded in 1875, is the world’s first and fastest inventory bag with a speed of 6 microseconds.BSE is the leading trade organization in India and has played a leading role in India’s progression.BSE money market is a corporate and demutualized entity, with a broad shareholder base that includes the world’s largest stock exchange, Deutsche Bourse, as a strategic partner.BSE offers an effective market for stocks, debt, equity derivatives, foreign exchange derivatives, commodity derivatives, interest rate derivatives, loans and loans of mutual budget and equity.
BSE has a platform committed to the negotiation of shares of small and medium-sized enterprises (SMEs) that has been very successful. BSE has a committed MF distribution platform BSE StAR MF, India’s largest mutual fund distribution infrastructure.introduced derivatives trading in gold, silver, copper, Oman crude oil, guar gum, guar seeds and turmeric.
BSE offers a large number of other participants in the money market, in the market, in the market, in the market, in the solution, in threat management, in compensation, in settlement, in the market and in knowledge and in education.It has global success with consumers around the world and a national presence.integrity, stimulate the expansion of the Indian money market, accept itplaceplaceplace and stimulate innovation and the festival in all segments of theplaceplaceplaceplaceplace market
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as a central counterparty for all transactions executed on the BSE trading platform and provides complete novation, ensuring the agreement of all transactions executed in intelligent religion. BSE Institute Ltd, a wholly-affiliated subsidiary of BSE, manages one of the country’s most reputable money market education institutes.Central Depository Services Ltd.(CDSL), A spouse of BSE, is one of two custodians in India.
The BSE established an Investor Protection Fund (IPF) on 10 July 1986 to respond to investor claims opposing bankrupt members, in accordance with the rules issued through the Indian Government’s Ministry of Finance.in India’s investment network.
About Ebix
With more than 50 offices on 6 continents, Ebix, Inc.(NASDAQ: EBIX) strives to deliver on-demand software and e-commerce to the insurance, finance, fitness and e-learning sectors.In the insurance industry, Ebix’s primary goal is to expand and implement a wide variety of on-demand insurance and reinsurance exchanges, while offering commercial software-as-a-service (“SaaS”) responses in the CRM box, front-end and back-end systems, outsourced management, and threat compliance matrix worldwide.
With a “Phygital” strategy that combines physical distribution issues in many Southeast Asian (“ASEAN”) countries with an online omnichannel virtual platform, EbixCash Financial’s exchange portfolio encompasses leadership in the domestic and cash transfer spaces. foreign, foreign exchange (the Foreign Exchange Market), prepaid cards and gifts, application payments, loans, wealth management, etc. in India and other markets. EbixCash the foreign exchange market Oconsistent withhations has become a leader in airport currency exchange orconsistent conhations in India with inconsistent conhations at 32 foreign airports including Delhi, Mumbai, Bangalore, Hyderabad, Chennai and Kolkata. These Forex market operations generate more than $ 4.8 billion in gross transactions consistent with the year. EbixCash’s remittance business in India reaches around $ five billion gross annually in remittances, accompanying its undisputed leadership position in India. EbixCash, through its Via and Mercury portfolio, is also one of the leading exchanges in Southeast Asia, with more than 2,200 employees, an agent network of more than 212.4five0, 2-five branches and more than 9,800 corporate clients. EbixCash travel company processes an estimated gross product price of $ 2.5 billion a year. EbixCash’s Technology Services Division has become a leader in loan technology, asset and wealth management technology and travel technology in India, and has expanded its success abroad to EuropeArray in the Middle East, Africa and others. ASEAN countries.
Through its diverse SaaS-based software platforms, Ebix employs thousands of domain-specific generation professionals to deliver products and recommend to thousands of consumers on six continents.For more information, visit the company’s online page at www.ebix.com
Media Contact:
Darren Joseph, 678-281-2027 or [email protected] David Collins or Chris Eddy, Catalyst Global – 212-924-9800 or [email protected]