Mufin Green Finance, a non-banking financial company focused on electric mobility and solar-energy financing, has entered the insurance financing segment and has disbursed approximately ₹970 crore in insurance-linked loans to date. The company has outlined a plan to scale this segment to ₹2,800 crore in cumulative disbursements by March 2029. The move is aimed at addressing affordability and access gaps in insurance, particularly in health coverage, where rising premiums have become a barrier for individuals and businesses.
Under this segment, Mufin Green Finance is primarily focusing on B2C Mediclaim financing, offering structured EMI-based solutions to individual policyholders. In addition, the company is piloting group medical insurance financing through a B2B2C model, targeting SMEs and mid-sized corporations to support employee health coverage. The company is also offering loans against the surrendered value of life insurance policies, allowing customers to unlock existing savings instead of relying on unsecured borrowing. Over time, the company will evaluate additional insurance-linked financing products selectively, ensuring they align with its long-term objectives.
Commenting on the development, Kapil Garg, Managing Director, Mufin Green Finance, said, “Insurance adoption in India is increasingly constrained by affordability rather than awareness. Rising healthcare costs have led to higher premiums, making it difficult for individuals and families to maintain coverage. Through insurance premium financing, we aim to enable easier payment structures and longer tenures, which can also help insurers offer benefits such as premium locking and discounts. Our objective is to improve insurance continuity while maintaining responsible underwriting and portfolio quality.”
The entry into insurance financing aligns with Mufin Green Finance’s broader approach of identifying gaps that have a direct impact on affordability and financial resilience. With increasing use of EVs, solar assets, and formal financial products, the company sees insurance-linked financing as a natural extension of its lending model, enabling structured payment options and improved continuity of coverage. The segment is being developed as a key growth pillar within the company’s impact-focused lending strategy.
The growth of the insurance financing segment will be supported by partnerships with insurers, intermediaries, and digital platforms, along with system-led underwriting and monitoring processes. As Mufin Green Finance expands this segment, it aims to build a stable and scalable insurance financing portfolio while contributing to broader financial inclusion and long-term sustainability.