Credit-Linked Insurance
A plain-English definition from the DeployIT insurance technology glossary.
In short: Cover attached to a loan that repays the outstanding amount if the borrower dies or cannot pay due to insured events.
Related terms
- LOS (Loan Origination System)
- The lender system managing loan applications from lead to disbursal.
- KFS (Key Facts Statement)
- A concise disclosure document summarizing product features, premium and exclusions.
- Attach Rate
- The percentage of eligible transactions (loans, purchases) where the customer also buys the offered insurance.
See it in practice
See this concept working in software
DeployIT puts quoting, issuance, renewals, claims and commissions on one platform built for Indian insurance distribution.