Muthoot Finance has tied up with Bajaj Allianz General Insurance to provide insurance on gold jewellery as part of their new initiative, Muthoot Gold Shield, which is backed and powered by Group Affinity All Risk policy of Bajaj Allianz General Insurance.
The policy provides insurance coverage of gold jewellery for individuals. This is designed to provide insurance coverage of gold jewellery articles for customers of the company at the time of closure of gold loans and release of gold ornaments. It will provide insurance coverage to the customers of Muthoot Finance as a loyalty product.
George Alexander Muthoot, Managing Director, said: “As part of our ongoing customer loyalty programme and social commitment, we are providing customers insurance coverage with an objective to build confidence and help move ahead in life without any fear.”
Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance, said, “gold jewellery is an integral part of our country’s culture and hence we have curated this product specifically for financially shielding customers of Muthoot Finance in case of any unforeseen events, thus making them worry-free about their jewellery.”
The policy covers burglary, robbery, theft from insured person’s home, loss-in-transit and 13 other disasters (natural calamities). Muthoot Gold Shield is provided at a nominal premium, which is lower than industry average. Zero documentation is required and it takes less than 2 minutes to generate a policy, a release said.