In a significant move poised to reshape the insurance distribution landscape in India’s financial services sector, insurance SaaS platform Heph, a Girnar Finserv entity, has entered into a strategic partnership with Capri Global Capital, the non-banking finance company (NBFC) better known by its consumer-facing brand Capri Loans.
The partnership aims to seamlessly embed insurance solutions within Capri Loans’ digital lending infrastructure, ushering in a new era of integrated financial services that combine credit and insurance offerings on a single platform.
Capri Global – Heph Partnership: A White-Label Insurtech Infrastructure
At the core of Heph and Capri Loan collaboration lies Heph’s modular, API-driven white-label SaaS platform, specifically engineered to meet the insurance distribution requirements of India’s BFSI (Banking, Financial Services, and Insurance) sector. Heph supports integration with over 49 insurers and facilitates operations such as policy issuance, claims automation, IRDAI compliance, invoicing, and analytics—all from a unified backend system.
This robust system allows Capri Loans to offer a broad portfolio of insurance products—spanning health, life, motor, and group health insurance—across assisted, embedded, and direct-to-consumer (D2C) distribution channels.
Driving Customer Experience and Business Efficiency
Capri Global, which claims an AUM of over INR 20,000 crore and a presence across 19 Indian states, is expected to benefit from faster operations and enhanced customer engagement. Early reports indicate that policy issuance times have already been reduced by up to 80%, thanks to Heph’s advanced automation features.
“Offering our customers a wide array of insurance solutions that fits their requirement is an important objective for us,” said Magesh Iyer, Chief Operating Officer at Capri Global Capital. “This partnership enables us to reimagine the entire customer journey. Heph’s platform, a one-stop shop for all insurance needs, will accelerate our growth and help us serve our customers better.”
The new integration complements Capri’s existing corporate agency license to distribute life, general, and health insurance. By embedding insurance directly into loan offerings, the company not only expands its revenue streams through cross-selling but also significantly enhances the value proposition for its customers.
Multi-Channel, Multi-Insurer, Customer-Centric
Heph’s full-stack architecture is tailored to support diverse operational needs. With features such as custom workflows, enterprise-grade SOC2 and ISO-certified security, and end-to-end backend management, the solution is well-equipped to handle large-scale deployments like Capri’s. The platform’s multi-insurer capability ensures that customers receive customized, best-fit insurance products, aligned with their risk profiles and preferences.
“We are reimagining the way insurance is distributed by enabling financial institutions to introduce the right insurance products to the right audience,” stated Ayush Bagmar, Business Head at Heph. “Our partnership with Capri Global furthers this vision.”
A Digital Milestone for the BFSI Industry
Capri Global and Heph deal is more than a typical B2B agreement—it represents a pivotal moment in the digitization of insurance distribution within India’s BFSI space. As embedded finance continues to gain traction, the partnership between Heph and Capri Global is expected to set new benchmarks for operational efficiency, customer satisfaction, and financial inclusion.
Capri Loans currently serves over 7,00,000 accounts with a workforce of more than 11,000 and operates across lending verticals such as MSME loans, gold loans, construction finance, and affordable housing finance via its subsidiary Capri Global Housing Finance.
With Heph’s technology stack now fully integrated, the company is poised to drive innovation at scale, aligning closely with India’s broader push toward digital financial services. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.