– Arka Fincap Limited will be able to offer a wider range of insurance products to its customers with ease, thanks to the integration of 1Silverbullet’s API technology.
Mumbai, 22 February 2023: India’s first financial B2B gateway infrastructure company, 1Silverbullet, has partnered with Arka Fincap Limited, a customer-focused NBFC, to simplify the process of integrating insurance solutions for customers.
The standard API provided will enable Arka Fincap Limited to receive custom insurance quotes for each loan they sell. Once the customer agrees to buy the insurance, 1Silverbullet uses its integrated dynamic UI to collect the necessary information and book the policy as part of the loan disbursement process.
This partnership will make the entire integration process easier and efficient by embedding 1Silverbullet’s API into Arka Fincap Limited’s system, which was traditionally challenging with technology integration with insurance companies.
Commenting on the partnership, Milan Ganatra, Founder & CEO, 1Silverbullet said, “We are excited about our partnership with Arka Fincap Limited. APIs are at the core of successful digital transformation. By democratising the digitisation process, APIs bring in standardisation, making it easy to plug in and plug out. This collaboration will provide their customers with seamless access to insurance products, and we believe it is a significant step towards creating more streamlined and efficient digital insurance solutions.“
“We are glad to partner with 1Silverbullet to offer our customers a seamless integration of insurance solutions. Our aim is to simplify the process of financing for our customers and to provide them with the best possible experience. With the help of 1Silverbullet’s API technology, we will be able to offer our customers multiple insurance products to choose from, thus making our loans secure and their lives hassle-free.” said Manish Nagarsekar, Head of Operations & BSG, at Arka Fincap Limited.
Arka Fincap Limited can now easily expand their insurance offerings, such as bundling health insurance with loans or personal accident insurance, without making changes to their core loan management system. This is possible due to the seamless API integration, which offers significant benefits to the company.