HDFC ERGO PARTNERS WITH ITZCASH (ITIPL) TO OFFER GENERAL INSURANCE PRODUCT OFFERINGS

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Bangalore, September 04, 2017: HDFC ERGO, country’s third largest non-life insurance provider in the private sector, announced that it has entered in into a strategic agreement with ItzCash (also known as ITIPL i.e. Interactive Tradex India Pvt. Ltd.), India’s leading Financial Exchange, to offer general insurance product on its ‘PHYGITAL’ platform.

The partnership inked will offer a wide range of general insurance policies including health, motor, fire and auto. All these products will be easily available and accessible to customers through ItzCash’s extensive distribution network across the country. Under the arrangement, the entire process right from filing an application to making the payment will be executed digitally through ItzCash’s network thus eradicating the possibilities of human error and other delays to offer customer service on a real-time basis. The partnership will also provide the customers with the convenience to pay premium at the nearest ItzCash outlet.

Speaking on the occasion, Mr. Anuj Tyagi, Executive Director, HDFC ERGO General Insurance Company said, “We are happy to associate with a growing organisation like ItzCash, who offer unique solutions to customers. Their proven business operations allow us to collaborate and expand our reach by offering health, home and fire insurance to a wider audience across the country through the Company’s digital platform.”

He further added, “We see immense opportunity in this association and firmly believe that ItzCash clients will gain a great deal from the bouquet of our products.”

 Mr. Ravi Singh – Chief Business Officer, ItzCash on the occasion said, “Being the pioneer and the country’s leading financial exchange, ItzCash enjoys the trust of millions of its customers. With the onus of brand trust and an unbeatable retail reach through the country, we are well geared to redefine the insurance experience. We are proud to partner with HDFC ERGO wherein besides leveraging technology our association very aptly serves our honourable PM’s national agenda of ‘financial inclusion’ while on-boarding our customers digitally.”

The initiative serves the national agenda of ‘financial inclusion’ and will also enhance HDFC ERGO’s reach in tier II and III towns and cities through ItzCash’s nationwide franchise network.

About HDFC ERGO:

HDFC ERGO General Insurance Company is a 51:49 joint venture between HDFC Ltd.; India’s premier Housing Finance Institution and ERGO International AG; the primary insurance entity of the Munich Re Group of Germany. HDFC ERGO acquired L&T General Insurance Company to mark India first amalgamation in the non-life General Insurance sector and is the country’s third largest non-life insurance provider in the private sector. The company offers complete range of general insurance products ranging from Motor, Health, Travel, Home and Personal Accident in the retail space and customized products like Property, Marine and Liability Insurance in the corporate space. HDFC ERGO is expanding its network across the country and is today present in 108 branches spread across 91 cities with an employee base of over 2000 professionals. The Company also has a wide distribution network.

    About ItzCash:

An Ebix Group Company, ItzCash Card Ltd., India’s leading Digital Payments fintech was established in 2006. A pioneer in the prepaid payments in India, ItzCash initiated the concept of ‘digital cash’ to the Indian consumer and various business entities, heralding the beginning towards enabling a cashless transacting society. ItzCash continues to build on its innovation augmenting its product portfolio offering wide choice of payments and money transfer service having issued 75 million accounts till date. It constantly invests in upgrading technology towards creating world‐class omni-channel payments platforms for the emerging India. ItzCash has presence across consumer segments serving 35 million consumers annually and over 75,000 franchisees branded as “ItzCash World” in 3000+ cities and towns. For further details, visit www.itzcash.com

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