Mumbai, June 12, 2024: Turtlemint, a leading insurance distribution platform in India, today announced a significant milestone – surpassing 1 crore (10 million) policies sold. This achievement underscores a testament to the power of the Point of Sale Person (POSP) model and Turtlemint’s unwavering commitment to enhancing insurance penetration across India, especially in tier-2 and tier-3 cities.
Since its inception, Turtlemint has focused on empowering advisors with technology. This approach enabled them to create a robust distribution network spanning 17,000 pin codes across India, and reach a vast underinsured population. Notably, over 60% of Turtlemint’s business comes from beyond the metros, highlighting its extensive reach and impact.
“We are incredibly proud to reach this milestone of 1 crore policies,” said 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 focus on further growth, Turtlemint is actively working to onboard more advisors and achieve its ambitious target of 1 million advisors. The company is committed to supporting existing agents and prioritises long-term financial sustainability. Turtlemint sees immense potential for innovation across the insurance value chain. Turtlemint’s achievement of 1 crore policies sold marks a significant milestone in India’s insurance journey. By leveraging technology, strategic partnerships, and a commitment to empowering advisors, Turtlemint is well-positioned to further bridge the insurance gap and make insurance accessible to a wider population across India.
About Turtlemint:
Founded in 2015 by Dhirendra Mahyavanshi & Anand Prabhudesai, Turtlemint is a digital platform designed to help financial advisors understand and distribute insurance to their community of customers. The platform helps financial advisors instantly match each customer with a suite of products best suited for their unique needs, through a digital solution, thereby making advisors & their business efficient. Turtlemint, a Mumbai-based insurance advisor-focused startup, last secured $120 million in a Series E funding round led by Amansa Capital, Jungle Ventures, and Nexus Venture Partners at a $900 million valuation, bringing the seven-year-old startup closer to the unicorn tag, having raised $190 million so far.
In response to the growing need for strategic business restructuring amidst India's rapidly changing economic…
The marketing landscape has been undergoing rapid changes over the past years, and with the…
If you find that blood sugar levels are creeping up, the best way to prevent…
Ever wonder just where in Boston you can find a luxury hotel that is worth…
As a traveler, you aim to take the most out of your trip. To ensure…
One major aspect of travel is the unexpected. Whether you're taking a trip to Europe…