Name the insurance company which has partners with Mobikwik to offer miniature insurance.

  • 1Tata AIA Life
  • 2Max Life Insurance
  • 3Edelweiss Tokio Life Insurance Company
  • 4Exide Life Insurance
Answer:- 3

Edelweiss Tokio Life Insurance partnered with payments platform Mobikwik to sell 'miniature' insurance plans.Sumit Rai, MD & CEO, Edelweiss Tokio Life Insurance covers of Rs 1 lakh, 3 lakh and 5 lakh with a premium of Rs 148, 443 and 738 per annum. The life insurer offers pre-approved sum assured basis customer information already with MobiKwik. The insurer will offer miniaturized products and Rai said they will look to expand this to products catering across long-term savings products.The MobiKwik app ecosystem KYC and other capabilities, we can issue and service the policy directly within the app ecosystem, instead of the customer engaging with two separate entities.The idea is to democratise insurance by offering a compelling product proposition digitally to a newer and digitally savvy customer segment. This partnership will allow Edelweiss Tokio Life to cater to customers across all income groups and offer relevant solutions. The life insurer is already taken steps to go digital. The last financial year company e completed a digital overhaul within Edelweiss Tokio Life called Project Transcend, to help in scalability and create a flexible platform to cater to increasing volumes smoothly.

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