New Delhi: 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.”
About InsuranceDekho
GIBPL was incorporated in 2016 and has been granted the license to act as a Direct Insurance Broker by the Insurance Regulatory Development Authority of India (“IRDAI”) in 2017. GIBPL was incubated within and is a part of the CarDekho Group. It enables its consumers to compare different insurance policies based on their requirements and helps them purchase the most suitable plan. InsuranceDekho is on track to end FY23 at INR 3000+ Crs annualized premium run-rate. The company currently has tie-ups with 45 insurance companies offering 330+ plans on its platform. 10 Indians buy a policy from InsuranceDekho every minute. InsuranceDekho is headquartered in Gurgaon and has a presence in 1300+ cities across the country. Multi-talented Director Actor Farhan Akhtar is InsuranceDekho’s brand ambassador.
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