The aim of the partnership is to help small businesses boost their growth. Credit: Vlad Deep on Unsplash.

India’s Kotak General Insurance has partnered with B2B SaaS platform actyv.ai to offer insurance to cover micro, small and medium enterprises (MSMEs).

Using actyv.ai’s AI-driven platform with embedded B2B buy now pay later (BNPL) and insurance, the insurer looks to facilitate the sustainability of small businesses.

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The aim is to help both businesses boost their growth.

Enterprises on actyv.ai can provide group insurance to its suppliers, distributors, and retailers with this alliance.

Commenting on the alliance, actyv.ai founder and global CEO Raghunath Subramanian said:  “As category creators, we will continue to build digital journeys, construct responsible and sustainable interventions with a special focus on insuring business risks, thereby empowering the ecosystem to focus on growth and be resilient.”

The tie-up with Kotak General Insurance comes shortly after actyv.ai’s Pre-Series A investment, in which it garnered $12m to expand worldwide, improve its product line, and strengthen its talent pool.

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Kotak General Insurance Multiline Business head Jagjeet Singh Siddhu said: “We are excited to join hands with actyv.ai to offer small OTC products like health and commercial policy via an end-to-end digital platform.

“This partnership will offer basic insurance to the last mile of the industrial value chain like never before.”

Kotak General Insurance provides non-life insurance offerings, including home, motor, and health.  

Earlier this month, Reuters reported about Zurich Insurance Group being in discussions to acquire a stake of up to 51% in Kotak General Insurance, valuing the business at $800m.