In addition, the insurer has collaborated with
O N Singh, executive chairman of Universal Sompo, stated that 10,000 policies had already been disposed in the past 5 months as well as have obtained good response for the product.
According to Ashwani , the product proposes protection to the banks against an account becoming an NPA due to the borrower meeting with an accident, death or falling prey to a critical illness like cancer or heart ailment.
Moreover, Universal Sompo is in discussions with other banks for a similar tie-up to propose this product.
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