In a novel initiative, SBI Normal Insurance coverage launched the first-of-its-kind ‘Shagun’ coverage, which permits gifting of private accident cowl. In response to the corporate, the important thing differentiating function of the coverage is that it may be gifted, which suggests it’s not crucial for the coverage purchaser to be associated to the insured individual.
“Shagun covers private accident insurance coverage which offers full monetary safety to the insured individual in opposition to uncertainties akin to unintentional loss of life and partial or complete disabilities, and everlasting in addition to non permanent disabilities ensuing from an accident,” the corporate mentioned in an announcement.
SBI Normal Insurance coverage had closed the monetary yr 2019-20 with a gross written premium of Rs 6,840 crore at a YoY progress of 45 per cent.
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