Loan provision services are fraught with potential hazards. The ability of a borrower to repay can be severely impaired by health complications or even death, culminating in non-performing loans. Oze, a one-stop business app providing loans, experienced these risks. Their quest for a comprehensive solution that could safeguard their business from such setbacks, while also providing credit life insurance at scale, led them to Curacel.
Curacel Grow offered Oze the ability to secure Credit Life insurance for their loan applicants rapidly, circumventing the often prolonged negotiations with insurance companies. Now, Oze can purchase the necessary policies directly from the Curacel dashboard, providing coverage for multiple customers applying for loans.
With Curacel, claims resulting from severe illness or death affecting a borrower's repayment ability can be lodged instantly on the Curacel dashboard, eliminating the need for paperwork. This digital transformation has made the entire claims process more efficient.
Securing competitive insurance rates without getting involved in multiple negotiation calls and pricing comparisons was a key challenge for Oze. Here, Curacel Grow, acting as a broker, ensured a smooth and affordable process of securing Credit Life insurance for Oze's customers.
The collaboration with Curacel Grow has brought about profound enhancements in Oze's insurance process. It has led to significant savings in terms of time and resources, with each loan transaction now being insured within minutes. This partnership signifies a significant step forward in Oze's journey to offer secure loan services to their SMB clientele.
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