Verak
@VerakInsurance
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Verak team is part of @Insurance_Dekho as of April 2023. for more info, please contact: 7551196989
Joined September 2020
We are delighted to share the story of our customer Sanchita K, who has been a business owner for the past 10 years. (1/5)
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BimaPe is now Verak!. It is with great excitement that we unveil our new brand identity. (1/4)
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How much would you pay for a haircut?.ITC Maurya recently paid ₹2 Crore for a really bad one!. In 2018, a 42-year old woman went to the luxury hotel for a haircut before an important interview. She asked the hairdresser to give her a 4 inch trim from the bottom. (1/10).
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BimaPe’s Journey (so far). In October 2020, BimaPe started with a team of 4 who knew Indians needed a better insurance experience and were determined to build it. (1/9).
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We are excited to announce that BimaPe is a part of @ycombinator's Winter 2021 batch!. #YCombinator has helped us think clearly, execute correctly, and grow fast!. #BimaPeBharosa #startup #YCW21
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🎉 Exciting news! 🎉. Verak team is now part of the InsuranceDekho family. (1/9)
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When someone dies, what happens to the loans they leave behind?. Most professionals have some kind of mortgage, car loan, or even credit card debt. And if they suddenly pass away, their family may lose the associated asset- especially if the deceased was the sole earner. (1/6).
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Sonam Kapoor’s father-in-law's company was cheated out of ₹27 Crore!. Shahi Exports Pvt. Ltd., an apparel manufacturing and exporting company run by actor Sonam Kapoor’s father-in-law Harish Ahuja, has recently been a victim of a highly sophisticated cybercrime. (1/8).
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When your agent sells you an Endowment plan when he promised you it is a Term plan
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Buying a new home? .Don’t forget to get Title Insurance!. Buying a new home is a milestone for most people. But this exciting experience can be marred if the ownership of your newly bought property is repudiated in a court of law. (1/8).
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🚨New internship at BimaPe🚨.We're hiring a Product Analytics Intern (or, Data Analyst Intern). You pick the role title.Our team will provide initial problem statements.You help us understand what the data suggests.
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Richard Branson and Jeff Bezos are traveling to space without insurance. Virgin Galactic founder Richard Branson successfully completed his space bound adventure on 11th of July, while Amazon mogul Jeff Bezos will follow suit in a week. (1/9).
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Greetings from Team BimaPe,. At the start of 2021 - we were a small team of 7 working remotely across 4 cities in India. Fast forward to today, we're a team of 20 (still) working remotely out of 10 cities in India - we also have a small office in Mumbai
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Did you know your #LifeInsurance claim cannot be rejected after 3 years?. When you buy Life #Insurance, you have to make certain disclosures to the insurer. These include your age, income, policies you’ve already bought, and your current health condition and family history. (1/3).
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Why did it take a Gujarat resident 8 years to receive his son’s death claim?. A resident of Anand, Gujarat tragically lost his 22 year old son in 2013 to poor health. He went on to file a ₹5 Lakh death claim with his son’s life insurance policy, where he was the nominee. (1/9).
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Youtuber “Hindustani Bhau” was arrested recently for inciting riots in Maharashtra. Here’s what happened:. Social Media Influencer Vikas Fhatak, popularly known as Hindustani Bhau, was arrested on 1 Feb 2022, for allegedly instigating a student riot. (1/8).
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How do Ganpati mandals protect their gold idols?. Happy Ganesh Chaturthi! . Ganesh Chaturthi is one of the most celebrated festivals across India. Each year the festivities span over 10 days and involve expensive Ganpati idols inside mandals laden with heavy gold ornaments. (1/7).
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A few weeks ago, Shreyas Iyer was injured during the ODI series against England and was ruled out from #IPL2021. The skipper would have played for #DelhiCapitals and earned Rs. 7 Crores for the season. And thanks to Player’s Insurance, he won't lose out on this money. (1/3).
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Important thread for FAQs related to INSURANCE FOR COVID-19! 😷. Covers:.1. Payout under the Corona Rakshak plan.2. Life Insurance coverage for COVID-19.3. Info for Mediclaim policyholders.4. Filing a claim for COVID-19.5. COVID-19 treatment at a makeshift hospital (1/9).
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🚨BimaPe is growing (again!)🚨. We're looking to add:.📝Operations Associate (contract).📹Video Editor (contract).🐍Python Developer (contract).🖥️Frontend Engineer (full time) x2. 🙏Please spread the word!.
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Ever heard of Divorce Insurance?. Major changes in your life are bound to affect your finances- a new job, marriage, children, and even divorce. Divorce is messy and expensive. In India, the average alimony payment is Rs 15 lakh- a number which has been steadily rising.
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What happens if a hospital is blacklisted by your insurer?. In 2015, a man in Gujarat had to be admitted to an orthopaedic hospital. But when he made his health insurance claim later, he was in for a rude shock- the hospital in question had been blacklisted by his insurer. (1/9).
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Delighted to announce our pre-seed fundraise led by @LightspeedIndia, with participation from @TitanCapitalVC, iSeed India and Gemba Capital. 🔥. This, along with our participation in @ycombinator's Winter 2021 cohort, brings our initial war chest to $545,000 (~ ₹3.8 crores).
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Air India has taken a ₹60,800 crore insurance cover!. Within months of the Tata group taking over Air India, the airline has taken a ₹60,800 Crore ($8 billion) insurance cover! .(1/6).
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Today marks 37 years of the Bhopal Gas Tragedy. Many victims and their families are still awaiting compensation. The Bhopal Gas Tragedy was a gas leak that occurred on 3rd December, 1984 at the Union Carbide India Limited (UCIL) pesticide plant in Bhopal, Madhya Pradesh. (1/10)
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After months of brainstorming, research, and experimentation, we're on track to create something new and exciting. We will soon unveil what it is. Tune in with us tomorrow to know more!. #BimaPeBharosa #India #fintech #insurance
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Why you should be careful while purchasing a ULIP. Unit-linked insurance plans (ULIP) are products of choice for people who want to take care of both insurance & investment at the same time. Just like regular insurance, ULIPs require periodic payments called premiums. (1/11).
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India has the highest number of cryptocurrency owners in the world. Are they safe from hackers and thieves?. The cryptocurrency craze in India has peaked this year!.(1/10).
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🎉BimaPe is growing!🎉. We are excited to welcome Vedika (@VedikaAg) as PMM to our team!. Vedika joins after a terrific stint at Finshots; she is currently recruiting for two open roles at BimaPe!
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How does alcohol consumption affect Life insurance claims?. In October 2017, a home guard in Telangana died in a motor accident. And in July, 2021, the District Consumer Disputes Redressal Commission at Nalgonda, Telangana ordered his insurance company to pay ₹5 lakh. (1/9).
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Will the cost of a vaccine be covered under Health Insurance?. No. Since the vaccine is preventative in nature, it is not covered under Health Insurance or COVID-19 insurance. (1/2).
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A jewellery store in Mumbai was robbed of ₹85 Lakhs in broad daylight!.Can jewellery shops recover their losses in such cases? . A jewellery store in Mumbai was robbed on Nov 14, when three masked men entered the shop and stole ₹85 Lakhs worth of gold, silver and cash. (1/9).
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BimaPe has crossed 10K members!. We are helping thousands:.💪Manage their family's insurance.📜Understand their coverage.💡Discover hidden benefits.We are truly grateful to each of you!. If you haven't done it yet, sign up to Wallet by BimaPe (it's free!):
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Landmark judgement from the Supreme Court of India. The court has recognized the economic contribution of 'home-makers' in the context of compensation for death due to accidents. A 'home-maker' uplifts the standard of a household and their untimely death should be compensated.
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🥳We are excited to welcome Abhinav (@abhinavgsh) to our team as our UX Researcher. Abhinav brings experience in UX research from his work at Bounce (micro-mobility) and OkCredit (micro-lending).
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Over 4 Lakh people in India have died due to #COVID19. How is the government helping their families?. As thousands struggled for their lives in June, the Supreme Court berated the govt for not compensating victims and the families of those who succumbed to the virus. (1/6).
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Why are e-scooters catching fire in India? . Electric Vehicle makers like OLA, Okinawa, and Pure EV have come under heat this past week as at least 4 electric two wheelers went up in flames. (1/8).
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Bengaluru man sues restaurant for ‘mental agony’ over a 40 paise overcharge!. In May 2021, a senior citizen ordered take-out at Hotel Empire on Central Street, Bengaluru. (1/9).
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Did you know most government buses are NOT insured?. Under the Motor Vehicles Act, 1988, it is mandatory for all vehicles on the road to have a Motor Insurance cover. (1/10).
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Why did Apple momentarily stop sales in Turkey?. The Turkish Lira has fallen to a record low due to controversial interest rate cuts. This year witnessed a 45% drop in the value of the currency, with a historic 15% decline on Nov 23. (1/10)
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A man sued his company for throwing him a surprise birthday party.He won $450k!. A Kentucky man was recently awarded $450,000 in a lawsuit against his ex-employer for throwing him an unwanted birthday party that triggered stress and anxiety. (1/10).
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Why have BMW, Ford, and Honda been recalling their cars?. Since 2008, major car manufacturers like Ford, BMW and Honda have been on a harrowing journey of recalling thousands of cars in order to replace their faulty airbags. (1/5).
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Verak welcomes @postmilane to our team as a Product Designer!. Joining us from Rajasthan, Milan has varied interests in the fields of engineering, marketing, and design! At Verak, he will be helping the Product team build and refine the Verak User Experience. (1/3)
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A major Apple supplier shut down its plant in Chennai last week . A manufacturing plant near Chennai, Tamil Nadu run by Foxconn, one of the oldest and largest suppliers of Apple products was temporarily shut down last week. (1/9).
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How does car registration affect your insurance claim?. On July 28, 2011, a Rajasthan resident who worked as a private contractor set off on a business trip out of his city. He stayed at a guest house overnight with his car parked outside the property. (1/9).
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Have a vehicle older than 15 years?.It may soon become 8 times more costly to drive it!. On 4th of October, 2021, the Ministry of Road, Transport and Highways issued a notice making it 8 times more expensive to get a fitness certificate for all vehicles older than 15 years.(1/8).
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Zomato customer gets ₹10,000 for a cancelled pizza order. Zomato has been ordered by the Chandigarh consumer commission to provide ₹10,000 and a free meal to an unhappy customer. (1/7).
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Are your hospital charges reasonable?. Your insurer will only pay them if they are. The reasonable and customary clause in Health Insurance is how insurers protect themselves from exorbitant/unreasonable payouts. This clause may also increase your out-of-pocket expenses. (1/4).
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The Himalayan Yak - a long-haired domesticated bovine usually found throughout the Himalayan region of India is now insured!. This move secures the livelihoods of thousands of people. (1/7).
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Our values may have matured over the past few months, but we remain committed to our core philosophy. So, hang tight! We’ll soon have more exciting updates for you. (4/4). #Verak #India #insurance #fintech.
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Does where you live affect how much you pay for Motor Insurance?.Yes. In the last 4 years, Mumbai, Delhi, and Bangalore have consistently been among the top ten most congested cities in the world according to the TomTom Index. (1/4).
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How a botched surgery cost two doctors ₹28.5 Lakhs. In March 2010, a woman from Dombivali Mumbai, sought relief from severe body ache and exhaustion. She subsequently contacted two doctors for her treatment. (1/9).
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Update: Our service was down for ~45 minutes today. We're back online now - if there is any help we can provide, please do let us know!. Apologies for the inconvenience - our Dev Ops engineer is unwell and we had to find external help!.
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If you want to buy #TermInsurance, you might have to get vaccinated first. Only about 16.8% out of 1.38 billion Indians have taken their first vaccine shot. But insurers like Max Life and Tata AIA are now mandating the jab for those who want to buy Term Insurance from them. (1/4).
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Large parts of Chennai are underwater. How can homes and businesses cover their astronomical losses?. Heavy rainfall that began on November 6 has left massive areas of Chennai, Tamil Nadu submerged, uprooting thousands of people. (1/9).
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Why Oppo and OnePlus phones have been banned in Germany. Oppo and OnePlus, two of the most popular android phone manufacturers, have been prohibited from selling their devices in Germany in a recent court ruling. (1/8).
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Why was a second-hand bike's accident not covered by insurance? . In November 2018, a Bangalore resident purchased a pre-owned Yamaha RX 100 bike. Just 7 days later, the man tragically died in a road accident while riding his newly bought bike. (1/10).
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Buying insurance online? 3 ways how you can be tricked:. * Premium amounts are displayed without payment frequency (monthly or yearly). * Immediate policy issuance has a T&C - immediately AFTER they decide to underwrite your policy. * Making payment doesn't mean your cover starts.
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🚨We're growing!🚨. BimaPe is very excited to welcome Simran (@simrankapahi) to our team as our Medical Researcher!. Simran will be working with our Engineering team to build Port with BimaPe - if you find medical terminology in insurance challenging; Simran is a go-to-resource!
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Small businesses in India have over ₹10.7 Lakh-Crore stuck in delayed payments. For a long time, MSMEs in India have been facing a great financial malady– that of consistently delayed payments by their buyers. (1/8).
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Why did the Supreme Court order Hyundai to pay ₹3 Lakh to a Creta owner?. Car manufacturer Hyundai has been ordered by the Supreme Court to pay ₹3 Lakh to a Creta owner for malfunctioning airbags during a road accident. (1/7).
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What is an Act of God?. The Reserve Bank of India has recently issued new guidelines for bank safety deposit lockers. According to them, banks cannot be held liable if the contents of these lockers are lost or damaged due to ‘acts of God’. (1/11).
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In 2008, coffee giant Starbucks’s finances were in shambles, and it was up to the CEO Howard Schultz to turn things around. Schultz acknowledged that the company was growing too fast, and burning too much money in the process. (1/2). #Starbucks #HealthInsurance #BimaPeBharosa
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Should Non-Resident Indians (NRIs) benefit from Life Insurance in India?. If you are well settled in a foreign country, should you still buy life insurance in India?. The answer isn’t as clear cut as a simple yes or no. (1/9).
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Tamil Nadu’s new Motor Insurance ruling is set to increase car prices. The Madras High Court has recently ruled that ‘bumper to bumper’ motor insurance along with cover for the driver & passenger of the vehicle will soon be mandatory for all cars sold after a certain date. (1/10).
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Did you know.the 2022 IPL is insured under India’s largest-ever sporting event policy?. The 2022 Indian Premier League took off with two new teams joining the roster– Ahmedabad Lions and Lucknow Nawabs. But that's not all that was different this time around! .(1/7).
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What is the Married Women's Property Act (MWPA), 1874?. When a married man buys Life Insurance, he'd likely want to secure his wife and children’s future after him. He may appoint them as beneficial nominees- making them final owners of the insurance claim proceeds. (1/3).
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Drunk driving leads to thousands of road accidents every year. Can bars be held responsible for them?. Driving under the influence of alcohol is a serious problem all over the world, including India. (1/10).
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Why is there a gender gap in government Health Insurance schemes? . The Bhamashah Swasthya Bima Yojana (BSBY), introduced in 2015 in Rajasthan was set to make healthcare more accessible to millions of people living below the poverty line. (1/9).
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👋We're hiring a Customer Success Exec.(No degree or past work exp required). Come join us revolutionize the way working professionals in India:.- Manage their family's insurance.- Make insurance purchase decisions.
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Did you know you may have a free medical checkup?. Most of us only think of visiting a clinic when there’s something wrong with our health. However, regular medical checkups can help in detecting anomalies and preventing ailments before they happen. (1/5).
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Partnership announcement: BimaPe x SHEROES. Most insurance products are designed for men. We hope to change that, and also generate insurance awareness within the 22M+ strong SHEROES community. Learn about what we offer our partners:
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Centre to pick up 90% of the crop insurance premium for northeastern states. More than half of India’s entire population is engaged in agriculture, and they contribute around 18% to our GDP. (1/8).
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Can you get rewarded for good driving?. The roads are filled with idiots. That’s why Motor Insurers like rewarding those who can drive on them without causing damage to their or others’ vehicles. (1/5).
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How is the #government enabling access to crop insurance in #India?. About 60% of India’s population works in agriculture, and the industry contributes around 18% to our GDP. So, it’s essential to secure the livelihoods of farmers. And crop insurance is one way to do that. (1/8).
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How were army veterans in New Delhi cheated out of Crores?. The Army Group Insurance Fund (AGIF) was established in 1981 for providing Life Insurance cover to retired army personnel. It also comes with a medical benefit and a deposit scheme for deceased personnel’s family. (1/7).
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Do the depositors of troubled banks get any protection from the government?. Nearly 2 years after the downfall of the Punjab and Maharashtra Co-operative (PMC) Bank, a rescue plan seems to be in sight. (1/7).
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Do you need Earthquake Insurance?. You may think Earthquakes are relatively rare occurrences, but according to a 2020 report by the National Earthquake Information Center, there are about 20,000 earthquakes in India each year. That’s approximately 55 per day! .(1/8).
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Politicians are rethinking the upcoming ICC T20 match between India and Pakistan.But what happens if the match is cancelled?. The ICC Men's T20 World Cup began on 18th October, 2021 with much controversy. (1/9).
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It’s time for a new chapter for us. And we will soon tell you what it is all about. Thank you for supporting us through our journey so far. :) . (9/9). #BimaPeBharosa #insurance #fintech #India.
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The conspiracy that led to a ₹9.5 Crore Motor Insurance claim being rejected. The Delhi Motor Accident Claims Tribunal (MACT) recently rejected a petition for a ₹ 9.5 Crore Motor Insurance claim. (1/11).
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Did you know the amount of money you have to pay for Life Insurance often depends on what you do for a living?. It’s true. The premium amount for risky jobs like construction work and coal mining can be more than that of low-risk jobs like software engineering or banking. (1/4).
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When American fast-food chain Taco Bell got insurance for the crash of a Russian Space Station. The Mir spacecraft was Russia’s pride. It hosted many crewmembers and visitors. It witnessed fires and a near-collision.And it spent 15 years in orbit- 3 times more than planned. (1/6).
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CEO who fired 900 employees on a zoom call last year gets sued. The CEO of Better .com, an online mortgage financing company, went viral on social media last year when he collectively fired 900 of his employees on one zoom call. (1/9).
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A man injured himself while walking from his bed to his desk. It was deemed a ‘workplace accident’. Even before the pandemic began, Work-from-home was steadily gaining popularity. (1/9)
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India has approved two new Covid-19 vaccines and one antiviral pill in a single day. What happens if these drugs have major side effects?.(1/8).
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#Locusts might be coming back. Can insurance protect farmers?. A few days ago, certain districts in Rajasthan and Uttar Pradesh sounded an alert for a possible locust attack. (1/6).
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What happens if your car breaks down in an area you don’t know?. You may face car troubles in an unfamiliar area. There could be something wrong with your engine or even run out of fuel with no pump nearby. This is when a Roadside Assistance cover can come to your rescue. (1/5).
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How is the central government helping hit-and-run victims in India? . According to the World Bank, India accounts for 11% of global deaths because of road accidents- the highest in the world. And the worst of these accidents are hit-and-run cases. (1/10).
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How is the government using insurance to boost India’s exports?. In July 2021, India’s merchandise exports hit a record high of $35.2 billion marking the highest ever monthly figure in the country’s export history. (1/9).
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800 thousand Mercedes-Benz owners were recently told to stop using their cars. On 4th Jan 2022, Daimler, the parent company of Mercedes-Benz, sent letters to some 800,000 Mercedes-Benz owners warning them of a potential hazard. (1/9).
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India's 'standard' health insurance.The Aarogya Sanjeevani policy is designed by the IRDAI (the regulator). 👇Our snapshot analysis👇
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Why are room rent caps such a big deal?. Most Health Insurers place a limit on the amount you can claim for the rent of a hospital room. Usually, this limit is 1% of the total coverage. (1/8).
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The Govt of India has 20+ FREE and many low-cost insurance schemes for Indian residents!🤯:.So we've launched a free calculator which tells you:.📜The schemes you are eligible for.🤔How to sign up for them.💡What coverage you can get.Try it here: #india
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A woman discovered a $3 million lottery prize in her spam folder!. Laura Spears, a 55 year old woman from Michigan, USA, was looking for a missing email from someone in the spam folder of her email account. (1/8).
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What is drone insurance?. Drones can be used to chart areas that are difficult to navigate for people. Their use is becoming very popular in the fields of commerce, healthcare, agriculture, and even insurance. In India, flying drones was made legal in December 2018. (1/7).
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🚨Update for car owners in India🚨. The IRDAI (Insurance regulator) has proposed linking traffic violations with your motor insurance premiums. We have presented a short summary of:.📊 Traffic Violation point system (THZ).💸Impact of THZ on your premiums
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