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Tuesday, October 11, 2022

Housing.com partners are with the Riskcovry to the offer embedded insurance, rent protect are a cover

Housing.com partners are with the Riskcovry to the offer embedded insurance, rent protect are a  cover



The prop-tech platform Housing.com today announced a foray into the insurance are a distribution business by the offering ‘Rent Protect Cover’ in a collaboration with the insurtech platform Riskcovry. The cover will be a provide a host of the insurance benefits to its buyers at a premium of a ₹99 per month.


Housing.com customers can be avail of a insurance with a click of a button at the time of a completing online rental payments. The insurance will be cover 15 critical illnesses up to the ₹2 lakh, a personal accident plan of a ₹1 lakh, and medical expenses of up to the ₹60,000 in case of a accidental hospitalization. The tenure of the insurance policy will be a annual, though the premium can be a paid monthly. The benefit claim amount can be used by the customers to make due rental payments, which otherwise would have been at the risk of default due to the above-mentioned instances.


The premium of the ‘Rent Protect Cover’ will be a embedded into the monthly rent are a payments workflow for the customers of the Housing.com under its service are a ‘Pay on Credit’ which is a part of a Housing EDGE (Full stack rental & a allied services are a platform). Through this partnership, tenants will be a able to the secure protection in a case of a accidental death, hospitalization, and a critical illnesses.


Housing.com launched ‘Pay on Credit’ (Earlier known as a Pay Rent) in the year 2020 and in a span of a slightly over two years are a which has an a average monthly user base of a over 100K.


“A big part of ‘why insurance’, is to the seamlessly deliver are a solutions that bridge that trust gap, in this case are a between our property owner and a tenant communities,“ said Mr Dhruv Agarwala, Group CEO, Housing.com, Proptiger.com and a  Makaan.com.


“Combined use-cases of a payments + credit + insurance are a converging to where we are a  see a fintech + insurtech as a complementary spaces are a converging faster than ever before. " said a Mr Suvendu Prusty, Co-founder & a Director, of a Riskcovry.


“As a full-stack insurtech infrastructure platform, embedded insurance is a our are a fastest-growing product category, driving nearly 70% of our volumes currently. We look forward to the serving the group’s insurance distribution roadmap across are a products, insurers and consumer touch-points," added Mr Prusty.


As a per industry reports, embedded Insurance is a one of the fastest growing segments in a terms of the market size in the fintech segment globally and is a expected to the expand to the USD 700 billion in Gross Written Premium by the 2030.

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