: Digit Insurance, on a mission to make insurance simple in India, has launched an online Do-it-yourself advisory tool, to help SMEs and start-ups calculate the coverage required for their businesses, called SME Buddy. This is part of Digit’s initiative to make insurance simpler and relevant to the smaller businesses that are more susceptible to risks, especially with the ongoing pandemic.
SME owners and start-up founders can enter their details, like the industry they are in, the kind of assets they hold and the resources they have in the tool. Based on this, the tool provides suggestions on the kind of insurance coverage that they should avail. SMEs are the backbone of the country. They are key contributors of product and service innovations and thus exposed to higher risks of different kinds. Choosing the right insurance solution can help to protect them from unprecedented losses.
It will give small businesses an idea on what type of insurance covers will be helpful for them and will protect them from eventualities.
Vivek Chaturvedi, Chief Marketing Officer, Digit Insurance, said, “At Digit, we are always looking at ways of taking our mission of making insurance simple one notch higher. This time we thought of making insurance relevant and simple for SMEs & Start-ups. They have been a huge pillar of support for the nation through these tough times and in doing so they are exposed to a variety of losses. Also, commercial insurance or SME insurance still has a layer of complexity and is difficult to understand. Hence, as an insurer we wanted to simplify the initial understanding for such insurances and wanted to spread awareness on the different kinds of insurance products that businesses would require based on different factors. This tool is our way of helping SMEs protect themselves in such difficult times.”