Fino Payments Bank has partnered with Go Digit General Insurance, one of India’s fastest growing general insurers, to offer shop insurance policy to small and medium business owners. Fino is associated with Go Digit as a corporate agent. The tie-up will allow small and medium businesses to avail the benefits of Digit’s My Business Policy in case of any adverse event.
The policy, which will be valid for one year, will cover loss or damage to the inventory or stock due to burglary, earthquake, fire, lightning, storm, flood, riots, among others. The policy will also include in-built coverages like money in safe, money in transit, etc.
Small and medium businesses form a significant part of Fino Bank’s strong customer base as well as its well-established merchant network. Fino Bank’s customers will be able to enroll in the policy offered by Go Digit at an annual premium of Rs 550 (for a sum insured of Rs 3 lakh), which will go up to Rs 2,600 (for a sum insured of Rs 15 lakh). As per their requirements, shopkeepers can directly enroll under Digit’s My Business Policy (shop insurance policy) in real time through a paperless process.
Fino Payments Bank is a scheduled commercial bank serving the emerging India market with its digital based financial services.
