InsuranceDekho, India’s leading Insurtech player today announced a strategic partnership with the Life Insurance Corporation of India (LIC) through which the LIC products will be immediately available for all customers on its platform pan-India.
Mr. Ankit Agrawal, CEO, and Co-founder, InsuranceDekho, said, “We are delighted to partner with the largest insurance company in India – LIC. This partnership will allow us to achieve our aim of democratizing insurance and making it accessible to everyone despite the geographic or class divide. LIC is India’s most trusted insurance provider and by joining hands with them, our vision of establishing 100% penetration in the remotest towns of the country will become easier to manifest. We will leverage the best technology, POSP partner practices, and innovation to set new heroic benchmarks for our partners, insurance advisors and customers.”
Since its establishment, InsuranceDekho has grown significantly and is on course to end this fiscal year at INR 3,000 crores annualized premium run-rate. It is present in more than 1,300 towns covering 93% of pin codes in India and is working on covering the remaining places soon to establish 100% penetration in the country. 10 Indians buy a policy from InsuranceDekho every minute currently.
InsuranceDekho has 330+ products from 45 insurers live on its platform. Partnership with LIC would enable InsuranceDekho to provide the entire gamut of Insurance solutions to its customers throughout the country.
Mr. Jayant Kumar Arora – Regional Manager (MBAC), Life Insurance Corporation of India (LIC), said, “We are excited to join hands with the leading Insurtech company of India – InsuranceDekho. Both organizations share the common vision of insuring every Indian. With this partnership, we plan to leverage InsuranceDekho’s technology & analytics to further expand our customer base and provide best-in-class services to all customers.”