Zurich Kotak Taps Zurich Edge to Take SME Insurance Digital
Zurich Kotak is strengthening its digital capabilities to simplify SME insurance and improve access for businesses.
Zurich Kotak is taking SME insurance digital with its latest technology push. The move aims to make insurance more accessible and seamless for small businesses.
Zurich Kotak General Insurance (ZKGI) on Monday announced a digital-first insurance offering for small and medium enterprises (SMEs), saying it will let businesses handle their insurance from quotation to underwriting through a single interface.
The offering runs on Zurich Edge, a technology stack developed by ZKGI’s majority owner, Zurich Insurance Group, which the company described as globally proven. ZKGI said the modular solution supports the full insurance journey for SMEs, covering quotation, purchase, servicing, referrals and underwriting. It described the product as an industry first.
The company said the platform is intended as a one-stop destination for SME insurance, with coverage and premiums tailored to each business’s risk profile. ZKGI said a business can secure a policy in a few taps and receive it within minutes.
Zurich Kotak: Bundled cover under Business Secure Plus
The offering is built around Business Secure Plus, a bundled product that ZKGI said removes the need for SMEs to buy and manage separate policies for different risks.
The product covers a range of risks, including property and asset-related perils, employee-related exposures and liability. ZKGI listed Fire and Special Perils, Burglary and Housebreaking, Electronic Equipment, All Risk, Fidelity Guarantee, Directors and Officers Liability, Employee Compensation, Money and Machinery Breakdown. The company said all covers are subject to applicable policy terms and conditions.
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ZKGI said it expects to expand the proposition with more products, additional covers, risk solutions and technology capabilities. It said this would help it address the changing needs of SMEs through a unified platform.
Zurich Kotak: Low insurance uptake among SMEs
In its statement, ZKGI said SMEs contribute nearly 30% of India’s gross domestic product and support millions of livelihoods. It said insurance adoption in the segment remains low, citing the complexity of managing protection across multiple risks and geographies. The company did not provide a source for the figure or for its assessment of adoption levels.
Birendra Mohanty, chief business officer at ZKGI, said SMEs are India’s growth engine and should be able to navigate risks without insurance becoming a barrier to their progress. He said the company is working to build a product that is easier to access and customise, and faster to transact.
Mohanty said the offering brings together product breadth, digital capability, underwriting thinking and partner enablement in one connected proposition. He said ZKGI would draw on the strengths of Zurich and Kotak, which he described as global expertise and local trust, along with its digital ecosystem.
ZKGI also said Zurich Edge is designed to give businesses contextual offerings and personalised coverage, and that this would help build long-term loyalty.
Zurich Kotak: Company background
ZKGI is a 70:30 joint venture between Zurich Insurance Group and Kotak Mahindra Bank. The company adopted its current name in August 2024, after Zurich Insurance Group acquired a 70% stake in Kotak Mahindra General Insurance Company Limited.
Established in 2015, the company offers non-life insurance products in the retail and commercial segments for individuals, families and businesses.
