Leading general insurer HDFC Ergo today expanded its health cover portfolio with a new policy group cover that covers the entire family or employees under one umbrella of protection.
Unlike other health insurance policies which cover only the actual expenses incurred on hospitalisation, the new product called the 'group critical illness insurance' from the third-largest non-life insurer pays a lump-sum amount to the insured on diagnosis of listed critical illness covered under the policy.
Under the group critical illness policy, which is an extension of the company's popular critical illness insurance policy, the insured has the choice of deciding how the claim amount can be used as there is no restriction or sub-limits on the expenses except the sum insured, the company said in a statement.
The other key features of the new product includes higher cover as the sum insured per life basis ranges from Rs 5,000 to Rs 5 crore; entry age from 3 months to 65 years , offers worldwide cover and offers an option for coverage from day one without any survival period.
------------------------------------------------------------ Community platform Fourth Ambit raises Rs 4cr from 1Crowd
Bengaluru-based startup Fourth Ambit, which is into community building, has raised USD 600,000 or around Rs 4 crore from 1Crowd and its investor community.
Fourth Ambit, founded by four college-mates (Jikku Jolly, Shyam Menon, Ruby Peethambaran & Rahul Das from Govt Model Engineering College, Kerala) is a specialist online platform for colleges that helps them build and nurture vibrant student/alumni communities.
It has on-boarded over 1,100 college communities, including marquee brands like IIM Bangalore, NIT Trichy, NMIMS Mumbai, Manipal University etc.
Run by Zeva Capsol, 1Crowd is a curated angel investment platform founded in September 2015 by four former banking executives and has over 400 investor members and has been involved in funding over 10 transactions for startups over the past 12 months.
---------------------------------------------------------- Spicejet to fly daily between Kolkata & Surat
Budget airline Spicejet today announced launch of daily direct flight services between Kolkata and Surat from July 1, becoming the first airline to offer direct flights on the route.
Under the plan, the airline will extend the Patna- Kolkata to Surat route.
SpiceJet already operates multiple non-stop flights from Surat to key metro and non-metro cities such as Delhi, Hyderabad, Jaipur, it said adding the booking for this sector is already on.
Spicejet operates 350 daily flights spanning 46 cities, including seven international cities. -------------------------------------------------------- M1 Exchange completes maiden TReDS transaction on Indusind Bk
Private sector lender Indusind Bank has said it has carried out the first successful online invoice discounting transaction on M1 Exchange.
The transaction worth Rs 91 lakhs was discounted on the exchange, which went live on April 7, by the bank for a supplier of a large electronics company, it said in a statement.
The entire process from hosting the invoice by the vendor on M1 Exchange platform, its acceptance by the corporate buyer, bidding and financing by the bank was completed in 48 hours, it added.
"We aim to make this digital experience of bill discounting on the Exchange quicker and more fulfilling for all the participants," the exchange's chief executive Sundeep Mohindru said.
------------------------------------------------------------- Yes Bk ties up with cashkaro.Com for card linked offers
Mid-sized private sector lender Yes Bank today said it has tied up with Cashkaro.Com to offer a cash back proposition to customers.
In a statement, the bank claimed it is the country's first card-linked offers programme which will provide online and offline shoppers with personalised merchant deals.
It will enable retailers to target relevant deals to card-holders and significantly ease the cashback implementation process for both consumers and merchants, it added.
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