United India Insurance Collaborates with SIDBI to Offer Insurance Solutions for MSMEs.

Banking & Finance

In April 2025, Chennai (Tamil Nadu, TN)-based United India Insurance Company Limited (UIICL), a Public Sector Undertaking (PSU) under the Ministry of Finance (MoF), partnered with Lucknow (Uttar Pradesh, UP)-based Small Industries Development Bank of India (SIDBI) to distribute general insurance products specifically tailored for the Micro, Small and Medium Enterprises (MSMEs) sector.


      - The collaboration aims to improve insurance penetration among MSMEs by offering a wide range of general insurance solutions to SIDBI's customer base across India.

     

     

Main Point :-   (i) The partnership aims to provide comprehensive insurance offerings, including home, health, motor, and engineering insurance, to customers of SIDBI through its 123 branches across the country.

      (ii) The initiative focuses on strengthening insurance accessibility among MSMEs, a sector considered crucial for India’s economic development and job creation.

(iii) This tie-up will enable MSMEs to access both financial and insurance services through an integrated platform, simplifying processes and boosting protection for small businesses.

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