• Capri Loans will provide customized health, life, and motor insurance products directly through its digital lending platform.
• The integration with Heph’s platform has reduced insurance policy issuance time by up to 80%.
• Heph’s modular infrastructure allows seamless integration with over 49 insurance providers, streamlining backend operations for Capri Loans.

Capri Global Capital Ltd, also referred to as Capri Loans, has partnered with the insurance technology platform Heph to integrate insurance products into its lending platform. This partnership allows Capri to deliver health, life, and motor insurance aligned to customer profiles from assisted, direct-to-consumer, and embedded distribution channels within its digital lending platform.

The collaboration is founded on Heph's white-label SaaS platform, intended to serve the insurance distribution requirements of banks and NBFCs. Capri Loans, with an assets under management (AUM) of over Rs 20,000 crore and operations in 19 Indian states, will leverage Heph's technology to streamline policy issuance, automate claims and compliance procedures, and generate new revenue streams. Interestingly enough, the adoption of Heph's platform has already reduced insurance policy issuance time by as much as 80%.

Magesh Iyer, Capri Global Capital Ltd's Chief Operating Officer, said, "Delivering our customers a wide variety of insurance products that suit their needs is an important objective for us. We understand that in addition to providing the correct products, the customer experience also needs to be put first.". This collaboration enables us to rethink the whole customer journey. Heph's platform is an end-to-end solution to all insurance requirements, which will fuel our expansion and improve our customer service."

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Heph's modular architecture makes it easier to integrate with more than 49 insurance companies and automate backend tasks, such as policy management, billing, IRDAI compliance, and analytics. As a division of Girnar Finserv, Heph stands as a third-party, API-first solution provider of neutral solutions for India's banking, financial services, and insurance (BFSI) industry.

Ayush Bagmar, Business Head at Heph, said, "Heph is revolutionizing insurance distribution by empowering financial institutions to offer the right insurance products to the right audience. Our tie-up with Capri Global takes this vision forward.

Capri Loans already has a corporate agency license to disburse life, general, and health insurance, and the new integration with Heph's platform is expected to further boost its insurance vertical further. The company has over 700,000 accounts with more than 11,000 employees on board and operates across multiple segments such as MSME lending, gold loans, construction finance, and affordable housing through its subsidiary Capri Global Housing Finance Ltd.