- Increase insurance awareness and penetration in under-served Tier II and Tier III cities
- Will offer end-to-end operational efficiency
New Delhi, 28 October, 2020: InsuranceDekho, a leading Insurtech startup, today launched ID Edge, a mobile app that allows individuals, including insurance partners, to sell insurance via its seller platform. With this app, the company while leveraging its proprietary technology aims to benefit thousands of insurance partners and potential micro-entrepreneurs associated with it.
ID Edge will optimize performance and improve the operational efficiency of insurance partners and help the company reach a wider audience and help generate employment. With the app, partners can keep track of their business, leads, fulfil inspections, issue policies, raise service requests and track upcoming renewals.
Talking about the launch, Ankit Agrawal, Co-founder and CEO, InsuranceDekho, said, “We are excited to launch our mobile app, ID Edge for insurance partners across the country. In the Beta phase, We are receiving positive response from insurance partners, due to the meticulously designed interface. The approach towards insurance needs in India will improve tremendously with this app.”
Ankit further added, “The pandemic has created greater health insurance awareness. The number of health policies fulfilled has doubled every month since March. Additionally, the mobile app will further handhold our vision of onboarding 1 lakh insurance partners across the country. We have already started seeing a huge interest from rural youth, women and small businessmen who run their set-up at a smaller scale, awaiting to use ID Edge and become financially secure.”
InsuranceDekho recently received an investment commitment of $20 Million from its parent company GirnarSoft towards strengthening their tech, product and sales teams. As a part of the expansive plan to onboard insurance partners across the country, the company has already enrolled more than 20,000 partners.
The launch of ID Edge is the second phase of the umbrella strategy. Owing to end-to-end digital processes, zero paperwork or in-person meeting to fulfil policies has helped the company grow in a sector that was impacted by the pandemic. New initiatives such as self-inspection module where a customer can himself inspect the car to get the policy issued, ensured zero contact with surveyors visiting their premises and thus reducing avoidable contacts.
Launched in 2017, InsuranceDekho is an Insurtech venture. It enables its consumers to compare different insurance policies based on their requirements and offering them the best choices available. In less than a year, InsuranceDekho has achieved rapid growth, with the company business doubling every quarter and tie-ups with 29+ insurance companies. InsuranceDekho is at an annualized run rate of 20 lakh policies and intends to close March 2021 at an annualized run rate of 36 lakh policies. The company is headquartered Jaipur and has offices in Gurgaon, Ludhiana (Punjab), Noida (Uttar Pradesh), Sri Ganganagar (Rajasthan) and Udyog Vihar (Haryana).