Universal Sompo Partners with Amplio & Assurekit for Innovative Insurance Solution in Supply Chain Financing

Universal Sompo General Insurance collaborates with Amplio and Assurekit to unveil an insurance product aimed at safeguarding against buyer defaults and delays, pivotal issues within the supply chain finance sector. This initiative supports safer investment options and trust-building in India's rapidly expanding trade financing market.

In a strategic move to enhance trust and security in the burgeoning supply chain financing sector, Universal Sompo General Insurance has teamed up with Amplio and Assurekit to launch a novel insurance solution. This endeavor addresses buyer defaults and delays, challenges that loom large over the sector's stakeholders.

The supply chain financing landscape in India is experiencing rapid growth, fueled predominantly by the working capital needs of micro, small, and medium enterprises (MSMEs). Despite heightened interest among investors in innovative investment avenues, issues related to transparency and risk management have hindered broader engagement. Universal Sompo aims to bridge these gaps with its forward-thinking approach.

Arti Mulik, the Chief Technical Officer at Universal Sompo, remarked on the company's dedication to crafting solutions that meet the evolving demands of trade financing. Karan Mehra, Founder & CEO of Amplio, emphasized the significance of trust-building in alternate investments, highlighting the synergy between extensive due diligence and insurance protection as a pathway to offering high-yield, low-risk products.

Through the Amplio app and website, Amplio customers can now effortlessly access this insurance offering, paving the way for seamless participation in supply chain financing ventures. The introduction of Amplio Assured is set to transform investor perspectives on risk, providing a reliable and structured investment framework.

As Universal Sompo General Insurance spearheads efforts to devise solutions tailored to the dynamic needs of the Indian market, the collaboration marks a significant stride in bolstering investor confidence and fostering financial innovation within the industry.

(With inputs from agencies.)