Mashreq has launched an embedded insurance product for SMEs in partnership with Sukoon Insurance.
The integration allows businesses to purchase employee and liability coverage directly through the bank’s digital platform, bypassing manual documentation and broker intermediaries.
The new offering is available via MashreqBiz, the bank’s online platform.
It enables business customers to secure Workmen’s Compensation Insurance for workplace injuries and Third-Party Liability Insurance for property damage or accidental injury claims.
By connecting Sukoon’s underwriting and policy issuance capabilities, Mashreq allows users to generate quotes, use pre-populated business data, and make payments without leaving the banking application.
“By embedding these essential protections within the familiar, trusted environment of MashreqBiz online banking, we are transforming a complex process into a simple, digital task,”
said Rajeev Chalisgaonkar, Head of Business Banking and NEOBIZ at Mashreq.
“This new solution enables us to meet customers where they are, at their point of need,”
said Aditya Kulkarni, Executive Vice President, Head of Distribution at Sukoon Insurance.
The integration is part of the bank’s strategy to provide risk management tools alongside routine financial services for the UAE market.
Featured image credit: Edited by Fintech News UAE, based on image by Frolopiaton Palm via Magnific
