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Mahindra Insurance partners with BigHaat to provide financial solutions in agri sector

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Guwahati: Mahindra Insurance Brokers (MIBL) has partnered with BigHaat to provide financial solutions to the nation’s farm sector. MIBL, a subsidiary of Mahindra & Mahindra Financial Services (Mahindra Finance), has established a relationship with BigHaat, India’s largest Agri Digital Platform.

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This collaboration will provide financial solutions to India’s informal Agri workforce. BigHaat and Mahindra Insurance Brokers will work together to advance the Government of India’s objective of increasing insurance penetration in rural India.

Under this collaboration, Mahindra Insurance Brokers will provide health and auto insurance plans. BigHaat clients will be able to purchase health insurance coverage through the BigHaat website and mobile application. In different combinations (Self/Spouse/Children/Parents), this insurance would provide a Sum Insured of up to Rs 5 lakhs. In addition, as part of the insurance policy, a hospital cash of Rs.1000 per day for 15 days per year will be launched.

“With 70 percent of India’s population being rural centred, this sector represents a massively underserved market when it comes to insurance acceptance,” stated Vedanarayanan Seshadri, MD & Principal Officer, MIBL. Furthermore, unplanned incidents that cause financial stress on families are particularly prevalent in rural and semi-urban India.

Our collaboration with BigHaat will give these families a sense of social and financial security. MIBL is committed to increasing trust and understanding in this community in order to better service the insurance needs of this market.”

BigHaat India Co-Founder Sateesh Nukala stated, “Providing insurance to marginalised populations, such as farmers, is a significant step forward. While agri-insurance has been the favoured form of insurance, farmers have neglected their own health and tractor needs. BigHaat, in collaboration with Mahindra Insurance Brokers, will provide health insurance to over 10 million farmers on its platform.

With this collaboration, BigHaat is getting closer to closing the insurance coverage gap in the farming sector. This association will assist us in becoming a one-stop-shop for all of the needs of farmers, including tractors and health insurance.” Due to its presence in rural and semi-urban India, Mahindra Insurance Brokers has been able to develop a strong link with rural consumers and has been offering superior customer experience for the past 18 years.

BigHaat is India’s top Agri Digital Platform for Farmers. It provides farmers with thorough tailored technical support, accessibility, and a large selection of high-quality inputs. BigHaat is redefining the future of millions of farmers via data, research, and technology advancement, greatly boosting their sustainability and profitability.

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