Page 9 - Insurance Times July 2023

ance, a deal that would mark its first
Kotak General Insurance
major bet on the fast-growing South Attention Subscribers
partners with actyv.ai to
Asian insurance market.
Please renew your Subscription of The
provide insurance prod-
Zurich Insurance has expressed inter- Insurance Times Journal to receive
est in both a minority stake of 49% or ucts to MSMEs copy of the journal uninterruptedly.
taking up a majority 51% stake, the
Kotak Mahindra General Insurance Co. You can now pay by GPAY, Phonepe,
sources said.
Ltd (Kotak General Insurance) an- Paytm, Amazon, ICICI Pay, BHIM UPI
The stake the Swiss insurer wants to nounced that it has partnered with
secure will be worth around $400 mil- actyv.ai to offer bite-sized insurance
lion, they said. Kotak is still evaluating products to new-age Micro, Small and
offers, including from other investors, Medium Enterprises (MSME) compa-
but it prefers retaining "control of the nies. Kotak General Insurance will le-
company" after the stake sale, the first verage actyv.ai's AI-powered platform
source said. to provide insurance solutions to sup-
A spokesperson for Zurich, one of port the business sustainability of small
businesses.
Europe's largest insurers, said "as a
matter of principle, we don't com- Through actyv.ai's technology stack
ment on market rumors and specula- and Kotak General Insurance's custom-
tions." Kotak General Insurance, which ized insurance products, this partner-
is fully-owned by Indian banking giant ship will offer innovative insurance
Kotak Mahindra Bank, did not respond products to the enterprise and close to
to Reuters queries. one lakh supply chain partner ecosys-
tem to focus on driving growth with-
Zuno General Insurance out worrying about business risks.

appointed lead insurer for Jagjeet Singh Siddhu, Head of Multiline
Business, Kotak Mahindra General In-
Goa
surance Company Limited said, "We
Zuno General Insurance (formerly Edel-
are excited to join hands with actyv.ai
weiss General) has got the mandate
to offer small OTC products like health
from the insurance regulator be the
and commercial policy via end-to-end
lead insurer for to promote accessible
digital platform. We believe that tech-
and affordable insurance for the state
nology plays a vital role in selling BFSI Sashi Publications Easy Payment
of Goa. products to masses and businesses.
Modes :-
As the lead insurer for Goa, Zuno Gen- This partnership will offer basic insur-
i) UPI ID: SASHIBOOKS@KOTAK
eral Insurance has to enhance insur- ance to the last mile of the industrial
ii) GPAY: 9830171022@okbizaxis
ance reach and accessibility, focusing value chain like never before."
iii) PAYTM: 9830171022@paytm
on life and health protection, natural
Raghunath Subramanian, Founder and
iv) NEFT: Current A/C
calamities, MSMEs, and employment.
Global CEO, actyv.ai said, "Through our
402120110000327 of 'SASHI
The concept of lead insurer for a state partnership with Kotak General Insur-
PUBLICATIONS PRIVATE
was initiated by the regulator to in- ance, enterprises on actyv.ai's platform
LIMITED, Bank of India, VVK
crease insurance penetration as part will now be able to offer group insur-
Road Branch., Kolkata, India,
of its vision of `insurance for all by ance to all of its distributors, retailers,
IFSC Code : BKID0004021
2047” Pooja Yadav, CPO at Zuno Gen- and suppliers. As category creators,
eral Insurance, said that with an insur- we will continue to build digital jour- v) Credit Card:
ance penetration ratio of 4.0 as of neys, construct responsible and sus- www.sashipublications.com
March 31, 2021, and approximately tainable interventions with a special For any query please call
40% of vehicles being uninsured, there focus on insuring business risks, thereby 9073791022/9883398055
is a significant opportunity to provide empowering the ecosystem to focus on
www.sashipublications.com
financial protection to Goans. growth and be resilient."
The Insurance Times July 2023 9