Partnership will offer basic insurance to industrial value chain, says Siddhu
Kotak Mahindra General Insurance Co Ltd will leverage actyv.ai’s AI-powered platform to provide insurance solutions to support the business sustainability of small businesses.
It has formed a partnership with Singapore’s actyv.ai to offer bite-sized insurance products to new-age Micro, Small and Medium Enterprises (MSME) companies.
Through actyv.ai’s technology stack and Kotak General Insurance’s customized insurance products, this partnership will offer innovative insurance products to the enterprise and close to one lakh supply chain partner ecosystem to focus on driving growth without worrying about business risks.
“We believe that technology plays a vital role in selling BFSI products to masses and businesses. This partnership will offer basic insurance to the last mile of the industrial value chain like never before,” said Jagjeet Singh Siddhu, Head of Multiline Business, Kotak Mahindra General Insurance Company Limited.
“We are excited to join hands with actyv.ai to offer small OTC products like health and commercial policy via end-to-end digital platform.”
Raghunath Subramanian, Founder and Global CEO, actyv.ai, added on 26 June 2023, “Through our partnership with Kotak General Insurance, enterprises on actyv.ai’s platform will now be able to offer group insurance to all of its distributors, retailers, and suppliers.
“As category creators, we will continue to build digital journeys, construct responsible and sustainable interventions with a special focus on insuring business risks, thereby empowering the ecosystem to focus on growth and be resilient.”
Singapore-based actyv.ai is an AI-powered enterprise SaaS platform with embedded B2B Buy Now Pay Later (BNPL) and insurance, transforming the global B2B supply chain by making business transactions faster and easier. Fiinews.com
