PriyaPatel
“`html
TLDR:
Key Points:
- Tech platform ACESO plans to add 60 more channel partners in FY 2024-25
- Current partners: 40; Goal: 100 by end of financial year
ACESO, a tech platform in insurance assignment business, is planning to add 60 more channel partners in the ongoing financial year. The company currently has 40 channel partners.
According to ACESO Founder Director Ketan B Mehta, these new partners will help the company grow its business by connecting with policy holders and insurance agents. ACESO helps to monetize endowment policies held by a life assured of LIC, ensuring financial benefits and continuation of risk cover till maturity.
The company has recently launched Assignment of Life Insurance Policy (ALIP) solution for LIC policyholders considering policy surrender or experiencing lapses. ALIP allows policyholders to receive surrender value of their endowment insurance policies while preserving life cover benefits through an independent SPV Trust managed by a Sebi-registered trusteeship company.
Furthermore, ACESO aims to expedite the consideration process within 48 hours upon completion of all necessary documentation. The entire documentation and KYC process is done online to minimize hassles for policyholders and LIC agents. The assignment of most endowment policies is possible under the Life Insurance Act, 1938 and Contract Act 1872.
“`
