The offering covers group medical, fire, and personal accident insurance across sectors such as IT, logistics, healthcare, and manufacturing. The company aims to finance over ₹20 crore worth of premiums by the end of FY26.
The product is fully digital, requires no additional collateral, and offers real-time approval. BimaPay has partnered with insurers and intermediaries to roll out the solution, initially starting with pilot deployments and plans to scale nationally.
Hanut Mehta, Co-founder and CEO, said, “Many businesses, especially MSMEs, struggle to afford large upfront premiums. Our installment-based model addresses this gap and helps maintain insurance coverage without impacting cash flows.”
Mehta added that the policy itself serves as the only security and that traditional lenders do not cater to insurance-specific needs, which often leads to delayed or reduced coverage.
The company is working with insurance firms, intermediaries, and NBFCs to expand access. It sees this as a strategic step into the corporate insurance space, aiming to simplify premium payments and support better financial planning for businesses.
BimaPay Finsure is a lending service provider focused on making insurance payments easier through credit-led solutions. Its platform allows real-time, paperless processing without collateral, aiming to boost insurance penetration across India.
(Edited by : Anshul)
First Published: Jun 5, 2025 5:29 PM IST
