Bimaplan Ties up With Credit Wise Capital to provide Easy Insurance with Two-Wheeler Loans
- The partnership will combine insurance and lending services under one roof for smart financing solutions
Bimaplan distributes its insurance through a robust 'phygital' model allowing accessibility to both the tech savvy and the 'brick and mortar' consumer. To avoid policy lapse, it also offers affordable policy premiums. Bridging the inconsistencies in the ecosystem, Bimaplan will further focus its efforts on augmenting features like automated payment reminders and auto-debit payment options.
Commenting on the partnership,
At Bimaplan, we understand that accidents are unforeseen and these uncertainties of life can push the underrepresented communities into further abyss of economic deprivation .Without insurance, these families are left vulnerable in case of any untoward incident. Our effort has been to democratise insurance through affordable products. We want to bring them financial security especially at times when they need it the most.
Since two-wheelers are the vehicles of preference for families ranging across various socio-economic groups, this partnership will allow us to serve several communities. At the same time, we hope to expand our share in the world's biggest mobility market through well-planned and easy-to-access insurance schemes.
We want to cater to wider geographies and are committed towards tapping atleast 50,000 of our partner's customer base by 2023."
Aalesh Avlani, Co-founder,
With more than 50% of two-wheeler buyers taking the online route to find dealers, Bimaplan hopes to reach out to this digitally savvy consumer. It will also further strengthen its position in Tier 2 and Tier 3 cities that account for a rising number of digital buyers today. In rural areas or for people who are not tech-friendly, a company representative or agent will assist consumers to make an informed decision on their options as per their convenience.
About Bimaplan:
Bimaplan is an affordable insurance platform for Indians. The company's vision is to provide financial security to the 150 million underserved Indian households through relevant insurance products. Bimaplan works with insurers to co-create customized products for the lower-to-middle income segment. Bimaplan is building a full-stack insurance platform from underwriting to distribution to customer engagement and retention. Bimaplan has launched its insurance-in-a-box product which allows its partners to sell embedded insurance products to their customers seamlessly.
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https://creditwisecapital.com/
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