Serial entrepreneurs Mr.Mallesh Reddy & Mr.Vijay Krishnamurthy
announced the launch of their new venture " INSUREMILE" an
Insurance aggregator platform.
Targets a cumulative premium of Rs.800 crores from over one million
policies in the next Five years.Emphasis on privacy means customers
can compare products & get quotes without divulging personal information.
Offers free policy service to all existing policyholders of insurance partners.
Insurance market : India is a heavily underinsured market,with 75% of Indians
not covered by any form of Life Insurance.The penetration of medical,Vehicle,
insurance is also less than 10-20% and varies according to sector.It is expected
that the overall Insurance business will reach good heights in 2022 as presently
Insurance is sold not bought by the insurers.
Speaking at the lauch,Mr.Mallesh reddy, Founder Insuremile,said,"with Insuremile,
we want to simplify the hundreds of Insurance products offered by various
insurers,so that customers need not have to go to multiple people for advice.We
look forward to being a prominent player in this changing landscape".Recent data
reveals that currently in India,there is Rs.11,000 crores of premium that goes
unclaimed due to the complex process of reaching out across multiple
touch points.Insuremile is trying to address this challenge.
announced the launch of their new venture " INSUREMILE" an
Insurance aggregator platform.
Targets a cumulative premium of Rs.800 crores from over one million
policies in the next Five years.Emphasis on privacy means customers
can compare products & get quotes without divulging personal information.
Offers free policy service to all existing policyholders of insurance partners.
Insurance market : India is a heavily underinsured market,with 75% of Indians
not covered by any form of Life Insurance.The penetration of medical,Vehicle,
insurance is also less than 10-20% and varies according to sector.It is expectedthat the overall Insurance business will reach good heights in 2022 as presently
Insurance is sold not bought by the insurers.
Speaking at the lauch,Mr.Mallesh reddy, Founder Insuremile,said,"with Insuremile,
we want to simplify the hundreds of Insurance products offered by various
insurers,so that customers need not have to go to multiple people for advice.We
look forward to being a prominent player in this changing landscape".Recent data
reveals that currently in India,there is Rs.11,000 crores of premium that goes
unclaimed due to the complex process of reaching out across multiple
touch points.Insuremile is trying to address this challenge.
