An Umbrella For Your Platform – Helping Customers Prepare for the Rainy Day

Umbrellas – the big black ones, the coulourful ones. The ones with printed flowers, the ones made of wood, and the ones that look like rainbows. Wearable, foldable, non-foldable, even hittable. Available in all shapes, sizes and colours, with a promise to stand by you, fulfilling your rainy-day needs.

No wonder they have become synonymous with life insurance. They are available in all shapes and sizes to protect us and our loved ones from the rainy days life throws at us. Their message is loud and clear: we have your back, rain or sun.     

The monsoons, with their refreshing rains and array of umbrellas, are a timely reminder of the need for robust preparation and protection against life’s uncertainties. It is a good opportunity for businesses to discuss securing futures and ensuring that customers are well-prepared for financial challenges.

The Need for Comprehensive Protection

In today’s rapidly changing world, financial stability is more important than ever. Extreme weather events, economic fluctuations, and unexpected life events pose significant risks. Offering your customers a range of insurance solutions can help them build a safety net, ensuring they are financially secure no matter what life throws their way.

In India, a massive chunk of the population remains underinsured. Low-income groups and self-employed individuals have never been considered for life insurance because of the lack of paperwork. They are just one unfortunate incident away from spiraling into a financial crisis.  

The good news, however, is that they are bold and ambitious and taking digital transactions like fish to the water. Slowly, they have realised the importance of being insured. It is now the job of insurance companies to create an umbrella that’s tailor-made for them.

At Bandhan Life we are doing just that!

Life Insurance, For Every Need 

At Bandhan Life, we offer a variety of insurance products designed to meet the diverse needs of your customers. Term insurance plans that provide substantial life cover to secure your customers' families in the event of an untimely demise. Teamed with riders, term plans offer additional protection against medical expenses arising from illnesses and accidents.

And savings plans that help customers accumulate wealth over time, ensuring they have funds available for future needs.

Growth Multiplied

India is leading the global insurance market, with insurance premiums likely to grow by 7.1 per cent this year.  Purchasing power of people is on the rise, which promises a bright future for the insurance industry as well.

As I mentioned in my previous blog, 2024 is a year of opportunity in terms of insurance. For businesses, this is a good time to sell insurance, whether you are an insurtech, a fintech, or an e-commerce company.   

The Bandhan Life Umbrella

Joining hands with Bandhan Life as a distribution channel makes good business sense. It also helps you serve your customers better, elevating their buying experience and helping them stay prepared for the rainy days of life.      

Seamless Integration with Your Platform: Our plug and play tech stack is designed to integrate smoothly with your platform after a few days of testing, providing a hassle-free experience for your customers.

API Integration and Digital Underwriting: With API integration and digital underwriting, we have changed how life insurance is bought and sold. We have simplified the process, making it quick and straightforward for your customers to get the coverage they need.

User-Friendly Interface: Our user-friendly interface guides customers through the insurance selection and purchasing process, ensuring they understand their options and make informed decisions.

The Way Forward: Collaborative Growth

As we continue to navigate a rapidly changing world, collaboration becomes key to ensure customer satisfaction. By partnering with Bandhan Life, you can offer your customers the protection they need, while also enhancing the value of your platform.

At Bandhan Life, we are dedicated to helping customers prepare for life’s rainy days. Join us in this crucial endeavor to provide financial stability and peace of mind to your customers.