L&T Insurance to launch SME, home policies soon

NEW DELHI: Private sector general insurer L&T Insurance today said it plans to launch 10 products in the small and medium enterprises (SME) and home space soon.

"We have got regulatory approval for SME and home products," L&T Insurance Chief Executive Officer Joydeep Roy said here.

The company proposes to launch 6 home insurance products and 4 in the space of SME, he said, adding that they will be rolled out in due course of time.

The company has tied up with FINISH (Financial Inclusion Improves Sanitation and Health), a public-private-partnership company for distribution of its micro insurance products.

Under the partnership, FINISH, supported by Dutch government, would train the employees of its micro insurance partner or NGO for distribution of two micro health insurance products in the three identified states. These states are Maharashtra, Rajasthan and Orissa.

Cash hospital micro insurance and medi-sure micro insurance would be offered under the programme, Roy said.

Micro insurance has huge growth potential and will play an increasingly important role in the penetration of the sector in the country, he added.