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Turtlemint to offer Kotak Life insurance products in 800 cities

Turtlemint to offer Kotak Life insurance products in 800 cities 1

InsureTech major Turtlemint, a leading player in the insurance distribution space, now offers insurance products from Kotak Mahindra Life Insurance Company Limited (Kotak Life) through its well-established PoSP (Point-of-Sales Person) pan-India network spanning 800 cities across India. Turtlemint today serves over 5,00,000 customers through a strong network of more than 50,000  agents having an annualized premium run rate of Rs. 900 crores.

Dhirendra Mahyavanshi, Co-Founder, Turtlemint said, “The insurance space is going through a massive digital transformation and we, at Turtlemint, are pleased to be in a position to partner with renowned life insurance brands to empower agents from across India. Turtlemint has proved itself as a trusted partner for customers and agents alike and we are delighted to partner with Kotak Life in our pursuit of making affordable insurance accessible to all Indians. Turtlemint leverages the right mix of technology & information, advisory & hand holding and effective distribution to increase insurance penetration in India.”

Suresh Agarwal, Chief Distribution Officer, Kotak Mahindra Life Insurance Company Ltd., said, “Over the past decade, technology has emerged as a great leveler. It helps connect, collaborate and create experiences and products once never thought possible. Technology is also increasingly disrupting the Point of Sales (PoS) segment. Turtlemint’s technology driven sizeable and efficient distribution model has a Pan-India reach of about 800 cities. We are happy to announce Turtlemint as our distribution partner. This partnership enables Kotak Life to access India’s thriving POS segment, which in turn helps the company in fulfilling its commitment of offering protection and long term savings to consumers.”

The PoS segment is set to see major disruptions in the near future and Turtlemint is uniquely positioned to capitalize on this and empower PoSPs. This partnership underlines Turtlemint’s commitment to expand the reach of financial services across the country and offer the best products and services to customers on digital platforms,”

Turtlemint believes in bringing complete transparency, assistance, accountability to the insurance buying & claim process by providing recommendations to customers based on proprietary algorithms and data analytics with an aim to build the consumer’s financial security. In spite of being an InsureTech player, Turtlemint has sustained its human connect with a mix of technology as a premise of its business assuring last mile connectivity with end consumer.

About Turtlemint

Turtlemint is one of India’s largest InsureTech companies. Launched in 2015, Turtlemint works on educating customers and helping them research across all segments of insurance. It also has its own network of agents that is empowered with all necessary training, tools and license to sell insurance products across categories and companies. It has a wide multi-brand distribution network through its multi-language mobile application.

With an agent network of over 50,000 that caters to more than 500,000 customers across 800 cities in the country, Turtlemint today has an overwhelming majority of Indian insurance companies as its partners. With a goal to improve the skill and knowledge of the Insurance agent community, it has invested in technology offerings, online trainings and shareable content. The Mumbai-based Startup has been funded by Sequoia Capital, Nexus Venture Partners and Blume Ventures. For details please visit https://www.turtlemint.com.

About Kotak Mahindra Life Insurance Company Ltd. (Formerly known as Kotak Mahindra Old Mutual Life Insurance Ltd.)

Kotak Mahindra Life Insurance Company Limited (Kotak Life) is a 100% owned subsidiary of Kotak Mahindra Bank Limited (Kotak). Kotak Life provides world-class insurance products with high customer empathy. Its product suite leverages the combined prowess of protection and long-term savings. Kotak Life is one of the fastest growing insurance companies in India and has covered over 24 million lives as on 31st March, 2019.

For further information visit https://insurance.kotak.com.

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