SBI General Ties Up With SahiPay To Expand Each In Rural Areas

To increase non-life insurance penetration in the rural market, SBI General Insurance will tap customers of fintech player SahiPay, which provides digital and financial services in the semi-urban and rural parts of the country.

SBI General Insurance on Monday announced a partnership with Manipal Business Solutions, the promoter of SahiPay.

Through this partnership, SBI General will provide a bouquet of non-life insurance solutions to SahiPay customers, the insurer said in a release.

The tie-up is a right fit to support the company's endeavour to maximise its reach to rural segments, Pushan Mahapatra, President - Strategic Investments & Head - Open Market, SBI General Insurance said.

SBI General is continuously strengthening its distribution footprints in the country, and this tie-up is a step in that direction, the insurer said.

'SBI General Insurance will help us provide comprehensive and accessible set of insurance offerings to our customers,' Kamaljeet Rastogi, CEO, Manipal Business Solutions said.

India is predominantly rural with over 65 per cent of the population residing in rural areas and to make the rural population aware about the benefits of insurance, affordable and technology based products that provide adequate cover are required, he said.

(PTI)