BSE Ebix, Universal Sompo partner on Corona Kavach policy and other policies

Corona Kavach policy : BSE Ebix Insurance Broking, a joint venture between fintech company Ebix’s subsidiary Ebix Fincorp Exchange and the Bombay Stock Exchange (BSE), has entered into a partnership with Universal Sompo General Insurance to sell general insurance products through the former’s distribution network in a fully digitized environment.

Universal Sompo General Insurance is a joint venture between Sompo Japan Insurance and the Indian Bank, Indian Overseas Bank, Dabur Investment, and Karnataka Bank.

The alliance is said to have launched with the offering of the recently launched Corona Kavach cover of Universal Sompo General Insurance, which is designed as a short-term policy to cover COVID-19 associated hospitalization costs via certified point of sales persons (PoSPs) of BSE Ebix.

Currently, BSE Ebix is said to have over 7,200 registered PoSPs.

Ashishkumar Chauhan – Managing Director and CEO of BSE (Bombay Stock Exchange) said: “We welcome Universal Sompo on the BSE Ebix technology platform and with this addition, we would be able to offer most customer-suited insurance covers across the country. We look forward to integrating the entire range of products of Universal Sompo, which can be sold through our strong network of PoSPs to add value to our overall insurance products offering.”

The partnership between Universal Sompo General Insurance and BSE Ebix is expected to help more people to get insurance plans like Corona Kavach cover and safeguard themselves and their families from the devastating novel coronavirus.

According to Ebix, Corona Kavach policy can be bought on individual or family floater basis for a duration of 3.5, 6.5, or 9.5 months. the Corona Kavach policy is said to provide varied sums of insurance coverage for hospitalization costs arising due to COVID-19.

BSE Ebix, Universal Sompo partner on Corona Kavach policy and other policies

The Corona Kavach plan is claimed to cover the cost of PPE kit, gloves, mask, and other similar costs incurred during the treatment of coronavirus. Furthermore, the policy also includes ICU and ventilator charges at hospital besides offering cover for expenses incurred on home care treatment, which include cost of buying pulse oximeter and oxygen cylinder, if advised by a medical practitioner.

Sharad Mathur – Managing Director & CEO of Universal Sompo General Insurance Company said: “We are rapidly increasing our distribution network and the collaboration with BSE Ebix shall prove to be a great achievement. We would be able to offer a bouquet of products ranging from Corona Kavach to Arogya Sanjeevani and variety of covers in due course of time through extensive and ever increasing PoSP network of BSE Ebix .

“The product offering is completely digitized to provide the best buying experience to our customers through the network of BSE Ebix.”