In a unique initiative, SBI General Insurance launched the first-of-its-kind 'Shagun' policy, which enables gifting of personal accident cover. According to the company, the key differentiating feature of the policy is that it can be gifted, which means it is not necessary for the policy buyer to be related to the insured person.
"Shagun covers personal accident insurance which provides complete financial protection to the insured person against uncertainties such as accidental death and partial or total disabilities, and permanent as well as temporary disabilities resulting from an accident," the company said in a statement.
SBI General Insurance had closed the financial year 2019-20 with a gross written premium of Rs 6,840 crore at a YoY growth of 45 per cent.
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