ChitMonks launches insurance products for subscribers

Hyderabad: In order to protect the subscribers of registered Chit Fund companies, Hyderabad-based blockchain startup ChitMonks has launched ChitInsure. This first-of-its-kind of product is specially designed to protect the subscribers and offers two products – one that helps companies in providing additional security for new subscriptions and the other is specially designed to protect the future liabilities of the subscribers. Over 15 companies on ChitFunds 2.0 Platform are already taking benefits of the ChitInsure since its beta launch in September.

ChitMonks works with registered chit fund companies and helps them build trust in their operations through block chain technology and making them 100 per cent digital. It also understands that the chit fund companies’ requirements and offers customised packages so as to help them scale seamlessly.

The company’s CEO and co-founder Pavan Adipuram says, “Our vision is to make chit fund investment trustworthy and transparent for regulators and subscribers. Our AI-powered solution and new products helps us achieve this vision in the right way.”

Source: Telangana Today