true balance, a fin-tech app has joined hands with Toffee Insurance, a Gurgaon-based insur-tech startup as its Insurance partner. Mosquito Insurance, Daily Commute Insurance, Biker Insurance and Daily Cash Plan are the four Insurance policies by Toffee Insurance that will be available under the new Insurance feature on the true balance app for the customers. This strategic alliance between Toffee Insurance and true balance aims to provide quick and easy access to micro-insurance policies to the users of true balance. It is a perfect fit as bite-sized insurances available on a Quick transaction-based model familiarizes the customer with the need for the product where customers have a sense of confidence and comfort in making payments.
Commenting on the launch, Charlie Lee, Founder of true balance said, “We are happy to partner with Toffee Insurance to come up with new insurance policies starting at just Rs 118 that can be availed by rural India. Our foray into the insurance category is aligned with our vision to bring a transformation in the current financial landscape and provide financial inclusion to the next billion in India.”
Rohan Kumar, CEO and Co-Founder of Toffee Insurance added, “We are delighted with the opportunity of partnering with a ‘One Stop Payment’ smart app like the true balance that considers serving the needs of the massive Tier 2 and Tier 3 Indian population. We aim to wrap the entire selling-to-claims experience in a brilliant end-to-end product-like journey, rather than insurance-like and this association is a nudge in the right direction.”
The insurance policies available at the true balance app are efficient products for frequent, non-critical day to day risks at minimal costs. Mosquito Insurance policy which covers Malaria, Dengue and Chikungunya is available at a minimal price of Rs. 707 for a year, Daily Commute Insurance covers accidental injuries while commuting in any vehicle for Rs. 399 Biker Insurance covers disability and hospitalisation in case of an accident while riding a bike at Rs. 118, Daily Cash Plan is Health insurance to protect your income loss in case of hospitalisation at Rs 449.
Toffee Insurance with its low premium insurance policies covers day to day risks of the consumers. The four products that can now be bought on the true balance app are tailor-made and already successfully running products by Toffee Insurance.