Aviva Life Insurance and BASIX, today, announced that they have further strengthened their six year old relationship by launching a unique group term plan - Sangh Samruddhi, which will cover the lives of the customers of institutions supported by BASIX. This product will strengthen the livelihood initiatives taken by BASIX. The tie-up with BASIX is part of Aviva’s initiatives to provide the benefits of insurance to all sections of the society. Aviva was one of the pioneers for microinsurance in the country and has covered over 12 lakh lives in the social sector.  With BASIX, Aviva has covered 620,000 social lives and settled 3,026 claims since the beginning of their relationship in 2002.

Speaking on the occasion, Mr. Bert Paterson, Managing Director & CEO, Aviva Life Insurance, India said, “Aviva is committed to the long-term partnership and provision of flexible micro finance products in India. Our association with BASIX goes back to October 2002 and together we have extended the benefits of life insurance to the lower income groups. We have recorded a high double digit growth for our microinsurance plans on year-on-year basis.”

Mr. Vijay Mahajan, Chairman, BASIX said, “BASIX currently provides a whole suite of micro insurance products to cover risks related to the Lives and Livelihoods of its customers. BASIX partnership with Aviva was the beginning of this journey. Together we have been able to bring out life insurance products which are simple and affordable for the poor.”

BASIX is a new generation livelihood promotion institution established in 1996 working in 12 states, 76 districts and spread across 15,000 villages. KBSLAB a Local Area bank under the BASIX group actively renders microsavings services to its clients. Some of Aviva’s products available though BASIX include Credit Plus, Savings Plus, Jan Suraksha, Amar Suraksha, Anmol Suraksha, Grameen Suraksha and a group insurance product.

Sourced From: Adfactors Public Relations Pvt Ltd