Revamping Loan Protect Insurance: The Technological Transformation Accelerating a Key Business Procedure for Non-Banking Financial Companies
In the dynamic world of Financial Services, Non-Banking Financial Companies (NBFCs) in Germany are embracing digital solutions to revolutionise their operations. One such solution comes from Nvest Solution, a company that has developed a unique platform to facilitate a complete transition to a real-time digital process.
The platform, designed for large NBFCs operating in multiple verticals like housing finance, vehicle finance, MSME loans, gold loans, and unsecured personal loans, offers a myriad of benefits. It provides the necessary views and controls to manage a diverse business portfolio seamlessly.
At the heart of this platform is the Product Configurator. This flexible tool can handle multiple applicants, moratorium periods, and different tenures associated with a wide range of loan products. By configuring a loan cover insurance variant tailored to the specific needs of each vertical, the solution provides the flexibility and control required to manage a diverse business portfolio seamlessly.
The Product Configurator also allows NBFCs to set up and manage vertical-specific requirements at a granular level, accommodating unique requirements and nuances of each lending vertical. This level of customisation is a significant departure from the conventional offline model, which is resource-intensive, prone to errors, and delays, taking anywhere from T+2 to T+3 days.
By digitalizing loan cover insurance, large NBFCs can transform a once-cumbersome process into a competitive advantage. The platform eliminates manual work and delays, resulting in increased operational efficiency. Moreover, it expedites the issuance of Certificates of Insurance (COIs) to a real-time basis, offering a significant improvement in speed and efficiency.
The digital transformation offers another advantage: new revenue opportunities. The platform enables NBFCs to cross-sell other contextual insurance products, opening up new avenues for growth. Partners who have adopted the platform have seen enhanced customer trust due to a smooth and professional onboarding process.
As of July 23, 2025, several large NBFCs in Germany have benefited from this digital solution from Nvest Solution. However, specific information about these companies is not currently available in the search results.
In conclusion, the digital platform provided by Nvest Solution is a game-changer for the NBFC sector, offering a streamlined, efficient, and flexible solution for loan cover insurance. By adopting this solution, NBFCs can improve their operational efficiency, enhance customer trust, and explore new revenue opportunities.
