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  • India’s leading insurtechs elevating customer experience and streamlining claims processes

    Published on December 11, 2023

     According to a report, the global insurtech market size was valued at USD 5.45 billion in 2022 and is expected to expand at a compound annual growth rate   of 52.7% from 2023 to 2030. Within this landscape, India’s growing insurtech scenario showcases innovative companies leading customer-centered approaches and efficient claims processing. These top insurtechs are transforming the industry by using technology to enhance customer experiences. With the use of AI, data analytics, and seamless digital platforms, these companies focus on user convenience, transparency, and accessibility. Their transformative methods simplify complex claims processes, improving speed, accuracy, and reliability. Leading insurtechs like Bimaplan, Turtlemint, Insurance Samadhan and One Assure spearhead this evolution, reshaping insurance interactions to provide a more user-friendly, personalized, and adaptable experience for the evolving needs of Indian consumers.

    Bimaplan: is an InsurTech startup helping drive insurance adoption through technology. India has a low insurance penetration, and the low/middle-income population is underserved by legacy insurers and distributors. Bimaplan’s full-stack embedded insurance platform enables businesses to seamlessly distribute relevant insurance products to their customers. They partner with financial services companies, technology startups, e-commerce platforms, and companies in various segments to build customized insurance products for their users. Bimaplan is recognized by the Center for Financial Inclusion as one of the emerging global InsurTech startups driving financial inclusion.

    Turtlemint: A startup in the InsurTech industry is leveraging technology to encourage the widespread acceptance and usage of insurance products. It seeks to “demystify” insurance by demystifying the terminology and offering shrewd tools to assist a user in making the best decision. From search to purchase, the entire process can be completed online in just a few clicks.The company offers car insurance, bike insurance, health insurance, and term life insurance. It was founded in 2015 and is based in Mumbai, Maharashtra, India.

    Insurance Samadhan: An innovative Insurtech platform dedicated to simplifying and resolving insurance-related grievances. Leveraging technology, it offers a seamless interface for policyholders to address claim settlements, policy issues, and disputes. By providing an accessible platform for individuals to seek redressal, it aims to bridge the gap between insurers and consumers, ensuring fair and efficient resolution. Through its user-friendly approach, Insurance Samadhan strives to enhance trust and transparency within the insurance industry while championing customer satisfaction.

    OneAssure: It is a pioneering Insurtech platform revolutionizing insurance solutions through technology. Offering a user-centric approach, OneAssure simplifies insurance management by providing a seamless digital experience for users to explore, purchase, and manage various insurance products. By leveraging cutting-edge technology and innovative strategies, OneAssure aims to enhance accessibility, transparency, and convenience in the insurance sector, empowering individuals to make informed decisions and secure their assets effortlessly.

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