Universal Sompo and APGB Join Hands for Rural Insurance
Why in the news
An insurer and a regional rural bank have tied up to take general insurance to rural Andhra Pradesh.
Key facts
- Partners: Universal Sompo General Insurance Company and Andhra Pradesh Grameena Bank (APGB).
- Coverage area: all 26 districts of Andhra Pradesh.
- Platform: the State Insurance Plan is used to widen access to affordable cover.
- Target groups: farmers, MSMEs, self-help groups and rural enterprises.
- Risks addressed: crop loss, property damage and health emergencies.
- Aim: customised, integrated financial and insurance solutions.
Exam angle
- Tie-up type: an insurer and a rural bank working together on general insurance.
- Number to recall: 26 districts.