Kochi (Kerala) [India], November 23 : Non-banking finance company (NBFC) Muthoot Finance has tied up with Bajaj Allianz General Insurance to provide insurance on gold jewellery as part of their new initiative "Muthoot Gold Shield", a company statement said here on Monday.
The policy would provide insurance coverage of gold jewellery for individuals, the statement said.
This is designed to provide insurance coverage of gold jewellery articles for customers of the company at the time of closure of gold loan and release of gold ornaments. It will provide insurance coverage to the customers of Muthoot Finance as a loyalty product.
George Alexander Muthoot, Managing Director, Muthoot Finance said, "Muthoot Finance as a company has always believed in the philosophy of helping people and giving back to society. Going by the initial overwhelming response received for this insurance policy, it has been widely accepted by the customers of the company. As part of our ongoing customer loyalty programme and social commitment, we are providing customers with insurance coverage with an objective to build confidence and help move ahead in life without any fear."
Speaking on the occasion, Tapan Singhel, MD and CEO, Bajaj Allianz General Insurance said, at Bajaj Allianz General Insurance, their endeavour has always been to offer products to ensure that citizens are safeguarded against exigencies.
"Gold jewellery is an integral part of our country's culture and hence we have curated this product specifically for financially shielding customers of Muthoot Finance in case of any unforeseen events, thus making them worry-free about their jewellery," he added.