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DPLI provides life covers to 4.15 cr people through MFIs & NBFCs

DHFL Pramerica Life Insurance (DPLI) has provided life insurance cover to 4.15 crore people through active tie-ups with 77 microfinance institutions and NBFCs. since FY14-15. During FY17-18, DPLI has paid claims worth Rs.108 Crore and has covered 1.93 crore lives. During FY17-18, DPLI has paid claims worth Rs108 cr and has covered 1.93 crore lives.

Anoop Pabby, MD & CEO, DPLI, “These customers who take income generating loans from the MFIs are highly vulnerable to financial shocks and life insurance is a must to support them in times of crises. Life Insurance can make a significant positive difference in the lives of these individuals by helping their families mitigate shocks and improve the management of expenses in case of untimely death of the primary bread-winner. Notably, we have settled claims of 46,000 customers under the MFI segment during FY17-18.”

AXA partners ING to provide insurance products

French insurer AXA has partnered with European financial services corporation ING to provide insurance products and related services through a central digital insurance platform.

Under the partnership, ING will bring its digital banking experience and AXA its expertise in innovative modular insurance products and services offering, property & casualty (P&C), health and protection insurance solutions, to ING customers in six of its challenger markets: Germany, Australia, Italy, France, Czech Republic and Austria.

Apollo Munich’s initiative for imparting paramedic skills to women

As a measure to empower women, Apollo Munich Health Insurance launched its flagship initiative `ROSHINI'.

Under this initiative, Apollo Munich along with Apollo Medskills Limited plans to impart free paramedic education to around 10,000 underprivileged women across semi-urban India.
Mr. Antony Jacob, CEO, Apollo Munich Health Insurance, said, “Roshini will be a guiding light for the “women of tomorrow” that helps them bring a change in the society.''

IDBI Fed Life launches its ‘Dream Builder Plan’

IDBI Federal Life Insurance launched a non-linked, non-participating life insurance plan- ‘Dream Builder Plan’. The policy will ensure Guaranteed Annual Payouts which are a deﬁned percentage of the Maturity Sum Assured and which will be paid out in the last 3 years of the policy.

Karthik Raman, CMO and Head – Products and Strategy, IDBI Federal Life Insurance said,“ The product’s guaranteed cash ﬂow can meet ﬁxed expenses like child’s education, marriage, or for that matter, a family vacation.”

Maharashtra aims to host 500 startups in the fintech sector

Maharashtra is targeting to have 500 funded and stable startups in the fintech sector, a senior official said today.

"We envisage that in near future we will at least have 500 fintech startups who are enabled, stable, have successful sizeable funding," joint secretary and official on special duty to chief minister Kaustubh Dhavse said at an event here.

The state has been the first to prepare a fintech policy and also have a registry of fintechs, said an official statement from the organisers quoting Dhavse.