Latest News | BimaPay Finsure Enters Corporate Insurance Financing, Aims Rs 20 Cr Premium in FY26

New Delhi, Jun 5 (PTI) Fintech firm BimaPay Finsure on Thursday said it has entered into corporate insurance financing and aims for Rs 20 crore in premiums in 2025-26.

Launching the pilot phase with insurance partners, BimaPay said the initiative will allow businesses to pay premiums in easy equated monthly instalments (EMIs) instead of bearing the burden of full upfront costs.

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The company aims to finance over Rs 20 crore worth of premiums by the end of 2025-26, it said in a release.

The solution covers all sectors, including IT, logistics, healthcare, manufacturing, and more, along with products like group medical, fire, and group personal accident insurance.

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"The corporate insurance premium market in India is vast, with many businesses needing to secure group health, fire, and statutory insurance.

"However, the lack of structured financing options makes it difficult for companies, especially MSMEs, to afford large upfront payments," said Hanut Mehta, co-founder and CEO of BimaPay Finsure.

Traditional lenders do not cater to insurance-specific needs, and insurers typically require the full premium in advance, which often delays or limits coverage, he added.

By offering instalment-based options, BimaPay aims to support a wide range of industries in maintaining robust insurance coverage while freeing up working capital and improving financial planning.

Upfront insurance premiums can cause cash flow issues for many businesses, leading some to delay or reduce coverage, the release said, adding that conventional financing options are not designed for insurance needs, and insurers require full payment upfront.

BimaPay is a digital lending platform that facilitates loans for the purpose of insurance premium payments through its partner lenders.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)