actyv.ai, the Singapore-headquartered enterprise SaaS platform with embedded B2B BNPL and insurance, a licensed corporate agency under IRDAI, has announced a partnership with Bajaj Allianz General Insurance to offer insurance products through their technology platform to enterprises and the partner ecosystem across the Supply chain.
Bajaj Allianz General Insurance, one of the leading private general insurers in India, with its strong focus on delivering superior value and customer centricity will leverage the technology stack of the actyv.ai platform by offering innovative insurance products to champion the sustainability of suppliers, distributors, and retailers. With this collaboration, Bajaj Allianz will offer bite-sized commercial insurance products like Fire, Burglary, in addition to group health products like Personal Accident, Hospital Cash, Credit Linked Health Plan, and Group Health Plans.
Speaking on the partnership, Mr. Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance, said, “With our continued efforts towards our vision of ensuring insurance benefits reaches the last mile in our country, our tie-up with actyv.ai is another collaborative initiative in providing affordable insurance products curated specifically for MSME companies. The pandemic had severely impacted the financial stability of the MSME industry and hence by offering such bite-sized insurance products they can financially protect their businesses across the value chain. Through this partnership and by leveraging the potential of AI, we look forward to providing our industry’s best products along with a seamless customer experience.”
Raghu Subramanian, Founder and Global CEO of actyv.ai, said, “Bajaj Allianz is known for innovative insurance products and meeting customer expectations. Technology is the foundation of this partnership, and we are delighted to collaborate and co-create very relevant risk protection to the MSME segment on our embedded offerings platform, thus contributing substantially to the country’s GDP. This alliance with Bajaj Allianz will ignite credible product innovation that is both responsible and sustainable. We aim to insure a substantial segment of the MSMEs in the next 12 months.”
About Bajaj Allianz General Insurance
Bajaj Allianz General Insurance is India’s leading private general insurance company. Bajaj Allianz is a joint venture between Bajaj Finserv Limited, India’s most diversified non-bank financial institution, and Allianz SE, the world’s leading insurer and largest asset manager. Bajaj Allianz General Insurance offers general insurance products such as motor insurance, home insurance, health insurance as well as other unique insurance plans such as pet dog insurance, wedding insurance, event insurance, and film insurance. The Company began its operations in 2001 and has been constantly expanding its operations to be close to its customers. Today, it has a pan-India presence in close to 1,000 towns and cities. Bajaj Allianz General Insurance has received the issuer rating of [ICRA]AAA from ICRA Limited. This rating indicates the highest degree of safety regarding timely servicing of financial obligations.
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. Through its partnerships with financial institutions, actyv.ai enables enterprises, suppliers, distributors and retailers to grow. actyv Go, actyv Score, actyv PayLater, actyv Insure and actyv Invest are the various product categories on the platform.