Source: BFSI

HDFC ERGO, the private general insurance company has entered into a strategic agreement with ItzCash, payments solutions company, to provide general insurance products on its platform.

This partnership will offer a range of general products to people

The initiative will enhance the reach of HDFC ERGO in tier II and III towns and cities as well through the nationwide franchise network of ItzCash. The partnership will provide a large range of general insurance policies including motor, health, fire and auto.

The complete process, starting from filing an application to making the payment, will be done digitally through the network of ItzCash under the arrangement. This will eradicate all the possibilities of human error and other delays to provide customer service on a real-time basis. The partnership will, moreover, enable the customers to pay their premium at the nearest ItzCash outlet.

The proven business operations of ItzCash will allow HDFC ERGO to collaborate and expand their reach by offering fire, health, and home insurance to a wider audience across the country, said Anuj Tyagi, Executive Director, HDFC ERGO General Insurance Company.

The initiative will enhance the reach of HDFC ERGO in tier II and III places through the nationwide franchise digital platform of ItzCash.

Customers will be able to pay premium at nearest ItzCash outlet

The initiative will assist the insurance providing company as the digital payments company ItzCash has a retail presence of more than 75,000 franchisees branded as “ItzCash World” across more than 3000 locations.

The Executive Director of HDFC Ergo General Insurance further said that they see immense opportunity in this “association and firmly believe that ItzCash clients will gain a great deal from the bouquet of our products.” This tie between the two popular companies will provide the customers with the convenience to pay premium at the nearest ItzCash outlet as well. HDFC Ergo registered a growth of 72.8% in the previous financial year and witnessed an expansion in the market share, from 3.5% to 4.6%.