Mumbai, June 12, 2024: Turtlemint, a insurance coverage distribution platform in Bharat, nowadays introduced an important milestone – surpassing 1 crore (10 million) insurance policies offered. This success underscores a testomony to the facility of the Level of Sale Individual (POSP) type and Turtlemint’s confident constancy to bettering insurance coverage penetration throughout Bharat, particularly in tier-2 and tier-3 towns.
Since its inception, Turtlemint has excited by empowering advisors with generation. This manner enabled them to form a powerful distribution community spanning 17,000 pin codes throughout Bharat, and succeed in a gigantic underinsured folk. Significantly, over 60% of Turtlemint’s industry comes from past the metros, highlighting its in depth succeed in and affect.
“We are incredibly proud to reach this milestone of 1 crore policies,” stated Dhirendra Mahyavanshi, Co-founder & CEO of Turtlemint. “This achievement is a testament to our unwavering commitment to making insurance accessible and affordable for everyone in India. By empowering advisors with technology and leveraging a robust distribution network, we are bridging the gap and enabling deeper insurance penetration, even to the last mile in India.”
With a focal point on additional enlargement, Turtlemint is actively running to enroute extra advisors and succeed in its motivated goal of one million advisors. The corporate is dedicated to supporting current brokers and prioritises long-term monetary sustainability. Turtlemint sees large doable for innovation around the insurance coverage worth chain. Turtlemint’s success of one crore insurance policies offered marks an important milestone in Bharat’s insurance coverage travel. Through leveraging generation, strategic partnerships, and a constancy to empowering advisors, Turtlemint is well-positioned to additional bridge the insurance coverage hole and form insurance coverage out there to a much broader folk throughout Bharat.
About Turtlemint:
Based in 2015 by way of Dhirendra Mahyavanshi & Anand Prabhudesai, Turtlemint is a virtual platform designed to assistance monetary advisors perceive and distribute insurance coverage to their population of consumers. The platform is helping monetary advisors in an instant fit every buyer with a collection of goods highest fitted to their distinctive wishes, thru a virtual answer, thereby making advisors & their industry environment friendly. Turtlemint, a Mumbai-based insurance coverage advisor-focused startup, extreme connect $120 million in a Sequence E investment spherical led by way of Amansa Capital, Woodland Ventures, and Nexus Undertaking Companions at a $900 million valuation, bringing the seven-year-old startup nearer to the unicorn tag, having raised $190 million to this point.
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