To bridge the insurance protection gap among the low income and financially excluded population


To become India's insurer of choice, dedicated to the unserved and under-served population, providing trusted, transparent and efficient insurance solutions enabling comprehensive financial inclusion
What is Risk?

Simply put, risk arises from an event (death, sickness), activity (mining, deep-sea fishing) or a condition (disability, unemployment) which carries a probability of financial loss. Anything uncertain that can cause financial loss or a risk.

Types of Risk we face?

Individuals, households, communities, societies, nations, all are exposed to some or the other risks. As families, we are largely exposed to the risks of life (untimely death of a breadwinner), living (sickness) and livelihoods (loss of livelihood due to disability, natural calamities, economic conditions). All of them can inflict heavy financial impact on the affected family.

What can we do about them?

As human beings we try to cope with risk in different ways.

  • Avoidance – we try to avoid undertaking risky activities. Eg: shift our residence from disaster prone areas.
  • Control – we try to reduce the occurrence (frequency) of the loss producing event (ayurveda treatment for chronic diseases) or try to minimize losses (Eg. - wearing a helmet while driving).
  • Retain – we just bear the rarely occurring small losses and fund them from our income/ savings.
  • Transfer – we transfer the financial burden of our losses to a third party like an insurance company. Insurance is the most common form of risk transfer for households.
Insurance Vs Life Insurance
Insurance is available for a variety of risks like home, motor vehicle, livestock, and health. Life insurance, on the other hand, covers the risk of untimely death of the policyholder. A life insurance policy guarantees the payment of a specified sum of money upon the death of the insured person during the term of the insurance policy.

Individual Insurance Vs Group Insurance
Individual insurance is offered to an individual based on his or her income and/or medical condition. A group insurance is offered to all members of a homogenous group like borrowers from any lending institution, employees of a company, members of a cooperative, etc. A group Insurance does not involve individual level financial or medical underwriting. Due to this reason, group insurance is cheaper and hence more affordable than individual insurance.

Insurance Vs Investment
Insurance and Investment are two very different and separate concepts and hence should never be compared. A pure life insurance covers the risk of death and the premium paid for one’s life is like a small expense and hence not returned.
A savings-linked insurance, on the other hand, covers the risk of death and returns the premium along with certain interest on survival of the insured.
Pure life insurance is meant to ease the financial shock on the family, arising out of sudden death of the breadwinner.
Savings-linked insurance enables planning for known or targeted life-cycle events like children’s higher education, marriage, etc.