Mahindra Insurance The broker will offer health and motor insurance policies under this partnership. The health insurance policy will be sold to BigHat customers through the BigHat website and mobile application. This policy will provide sum insured up to Rs.5 lakh in various combinations (self/spouse/children/parents). In addition, hospital cash of Rs 1000 daily sum assured for 15 days in a year will also be introduced as part of the insurance policy.
Commenting on the association, Vedanarayanan Seshadri, MD & Principal Officer, MIBL, said, “With 70% of India’s population being rural-centric, this segment is a huge untapped market when it comes to adoption of insurance. In addition, rural and semi-urban India are most affected by unforeseen events, putting financial strain on families. Our partnership with BigHat will provide these families with a sense of social and financial security. MIBL is committed to creating trust and awareness within this community, and is committed to meeting the insurance needs of this market.”
Satish Nukala, Co-Founder, BigHat India said, “Bringing insurance for underprivileged population like farmers is a huge step. While agriculture insurance has been the preferred form of insurance, they have neglected their own health and their tractor requirements. In this collaboration with Mahindra Insurance Brokers, BigHat will provide health insurance to over 10 million farmers who are on its platform. With this partnership, BigHat is one step closer to bridging the low insurance penetration gap among the farming community. This collaboration will help us become a single source destination for all the needs of farmers including tractors and health insurance.
Mahindra The insurance brokers owing to their presence in rural and semi-urban India have been able to forge a strong bond with rural customers and have been providing top-notch customer experience over the last 18 years.
BigHat is India’s leading farmer centric agriculture digital platform. It provides farmers with comprehensive personalized technical guidance, accessibility and a wide range of high quality inputs. With the help of date, science and technological advances, BigHat is changing the future of millions of farmers, greatly improving sustainability and profitability for them.