Project Information
NBFC-MFI Insurance Solutions
Background
Microfinance institutions cater to underserved communities but face loan default risks due to borrowers’ financial instability.
Challenges
Borrowers unable to repay loans during health emergencies or job losses.
Low financial literacy leading to missed repayments.
High loan default rates impacting NBFC-MFI profitability.
Solution: Embedded Insurance for NBFC-MFI
Loan-Linked Life Insurance: Pays off outstanding micro-loans upon the borrower's death.
Income Protection Cover: Ensures continued loan repayments in case of illness or disability.
Micro Health Insurance: Covers hospitalization expenses for small borrowers.
Results
20% decline in default rates among microloan borrowers.
Improved borrower retention and financial security.
What Legal papers needed for opening insurance policy?
Insurance plans will help to pay for medical emergencies, hospitalisation contraction of any illnesses & treatment, medical care required in the future. The financial loss to the family.Insurance plans will help to pay for medical emerg encies, hospitalisation contraction of any illnesses & treatment, medical care required in the future. The financial loss to the family
How EFT is used for your premium payment method?
Insurance plans will help to pay for medical emergencies, hospitalisation contraction of any illnesses & treatment, medical care required in the future. The financial loss to the family.Insurance plans will help to pay for medical emerg encies, hospitalisation contraction of any illnesses & treatment, medical care required in the future. The financial loss to the family
What is the age limit for elderly care policy?
Insurance plans will help to pay for medical emergencies, hospitalisation contraction of any illnesses & treatment, medical care required in the future. The financial loss to the family.Insurance plans will help to pay for medical emerg encies, hospitalisation contraction of any illnesses & treatment, medical care required in the future. The financial loss to the family
How to claim a policy amount from you?
Insurance plans will help to pay for medical emergencies, hospitalisation contraction of any illnesses & treatment, medical care required in the future. The financial loss to the family.Insurance plans will help to pay for medical emerg encies, hospitalisation contraction of any illnesses & treatment, medical care required in the future. The financial loss to the family
Service Options
1
Documentation List
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2
Application submission
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3
Inspection
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4
Release Letter
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5
Premium Collection
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6
Insurance Permit
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Clients Testimonial
I have amazing experience with Sorrento. They have helped me about deciding me about my deposit insurances for future safety. Financial associates are very helpful. I will Highly recommend them.
Ashley Jonson
NewYork, USA