Insuring Insurtech We have set a goal of creating a million micro-entrepreneurs in India by making it simple to enter the insurance advisory business, says Turtlemint's Dhirendra Mahyavanshi
By S Shanthi
Opinions expressed by BIZ Experiences contributors are their own.
You're reading BIZ Experiences India, an international franchise of BIZ Experiences Media.
Turtlemint aims to drive insurance penetration across the length and breadth of the country by enabling insurance advisors (PoSP) with technology.
"With our enterprise suite of products - Turtlefin, our partners are able to ease the quote creation, and issuance process, improve customer engagement, and sell customized insurance products that can meet the needs of consumers. Our focus since the beginning has been to simplify the insurance distribution and digitally enable the advisors," says Dhirendra Mahyavanshi, co-founder, Turtlemint.
The fintech industry is highly competitive, with new players constantly entering and existing players constantly innovating to stay ahead. In such a scenario, customer retention becomes critical, and Turtlemint is doing the same with its digital-first approach in enabling the POSPs and simplifying insurance for our customers.
Our goal is to offer insurance advisors the right digital tools as well as access to digital training and knowledge material to help them grow their businesses
"Furthermore, we have set a goal of creating a million micro-entrepreneurs in the country by making it simple for individuals, particularly young people, to enter the insurance advisory business. More specifically, the content, training tools, and material available on our platform are simple, easy to understand, and available in multiple languages," he adds.
In addition to these efforts, the startup is investing in emerging technologies that have the potential to revolutionize the insurance industry by improving efficiency, lowering costs, and providing more accurate risk assessments. It will also be focusing on claims automation to make the process of claims seamless for its customers or anybody seeking claim assistance.
FACT SHEET
- Total funding raised so far: 190 Mn$
- Year of inception: 2015
- Key investors: Jungle Ventures, Nexus Venture Partners, Amansa Capital, Sequoia Capital India
- Number of employees: 3000+
- Number of customers
- B2C - 40 Lakh+
- B2B - 2.8 Lakh+ POSP advisors
