InsureTech market leader, Turtlemint, added another milestone in its success journey, by partnering with the stand-alone health insurance player, ManipalCigna, to offer the company’s popular health insurance products through its well-established PoSP (Point-of-Sales Person) network. This strategic association is one more in the list of more than 40 top insurance companies that Turtlemint has tied up with in the insurance distribution space in recent times. Turtlemint’s robust PoSP network rests on the able shoulders of more than 65,000-strong advisors contingent that caters to more than 5 lakh customers in 800 cities of the country; adding an annualized premium run-rate of Rs 950 crores to the business.
Expressing happiness at the tie-up, Dhirendra Mahyavanshi, Co-Founder Turtlemint said, “ManipalCigna is an important stakeholder in the stand-alone health insurance space and we feel privileged to be associated with them. Our aim is to be the one-stop shop for all kinds of insurance products and this partnership is a significant step in this direction. It supports our vision to provide a bouquet of products to our customers; to ensure they choose the best-fit policies only. Our strong PoSP network, consisting of more than 65,000 advisors, provides the vital link between us and our customers; it establishes the last-mile connectivity. We are leveraging its benefit to sensitize people about insurance, bridge gaps, plug loopholes and ensure seamless service.”
Prasun Sikdar, MD & CEO, ManipalCigna Health Insurance Company Limited said, “Our partnership with Turtlemint is built on our shared passion for improving customer’s access to quality healthcare. Given their vast experience in technology and digitalization will enable us to provide easy access to health insurance product features and service proposition in line with the customers need and behavior.”
In the last 4 years, Turtlemint has grown to dominate the InsureTech space, using the strategic combination of multilingual digital app and its PoSP network. Gauging the importance of digital in insurance early, the company has put proprietary algorithms and data analytics in place to educate people about various insurance products. This technology further builds on customer data to present customised choices of insurance products. The PoSPs then reach out to individual customers to alleviate their concerns, explain each product in detail, help the customers buy the best products, and later provide dedicated claims support. The entire system promises transparency, assistance and accountability – the firm foundation on which Turtlemint rests and is subsequently making its journey to the top.
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