Muthoot Finance is now in a partnership with Bajaj Allianz General Insurance. Bajaj Allianz is India’s leading private general insurance company providing insurance on gold jewellery. As part of this tie-up, they are launching ‘Muthoot Gold Shield’ which is powered by Group Affinity All Risk Policy of Bajaj Allianz General Insurance.
Muthoot Finance launches ’Muthoot Gold Shield’ for its customers. It provides insurance coverage for gold jewellery for individuals. It is planned in such a way that it provides gold jewellery insurance coverage to the company’s customers at the time of repayment of the gold loan and access to the gold jewellery. They have come up with insurance coverage for customers of Muthoot Finance as a loyalty product.
Bajaj Allianz General Insurance generally provides home insurance and insurance for other articles at home, and now gold jewellery insurance is also made available. Usually, other insurance companies are giving gold insurance at a maximum of 15% of the total home insurance policy sum incurred. In the case of other insurance companies, an individual with a home insurance policy coverage of Rs. 10,00,000 is eligible for taking a gold jewellery insurance coverage of Rs. 1,50,000, but Muthoot Gold Shield provides insurance for customers without prompting them to purchase home insurance. This is because the Muthoot Gold Shield is an independent gold jewellery insurance offering.
The main benefits of the Muthoot Gold Shield scheme are its implicit and easier ways of obtaining jewellery insurance coverage. Other exclusive benefits include protection from burglary, robbery, and theft from insured person’s home or loss in transit, it gives protection for jewellery from natural calamities also, 13 natural calamities have been mentioned in the policy for which insurance can be availed.
Notably, the insurance is provided at a nominal premium which is lower than the industry average. The most attractive feature is the time-saving factor, no documentation is necessary thus it takes less than 2 minutes to generate the policy. Muthoot Finance gives a lot of importance to customer loyalty, and they focus on building confidence and going on without any fear.