Dhirendra
Mahyavanshi, Co Founder & CEO of Turtlemint
Mumbai : Turtlemint, a leading insurance distribution
platform in India, today announced a significant milestone – surpassing 1 crore
(10 million) policies sold. This achievement underscores a testament to the
power of the Point of Sale Person (POSP) model and Turtlemint’s unwavering
commitment to enhancing insurance penetration across India, especially in
tier-2 and tier-3 cities.
Since its inception,
Turtlemint has focused on empowering advisors with technology. This approach
enabled them to create a robust distribution network spanning 17,000 pin codes
across India, and reach a vast underinsured population. Notably, over 60% of
Turtlemint's business comes from beyond the metros, highlighting its extensive
reach and impact.
“We are incredibly
proud to reach this milestone of 1 crore policies,” said Dhirendra
Mahyavanshi, Co-founder & CEO of Turtlemint. “This achievement is a
testament to our unwavering commitment to making insurance accessible and
affordable for everyone in India. By empowering advisors with technology and
leveraging a robust distribution network, we are bridging the gap and enabling
deeper insurance penetration, even to the last mile in India.”
With a focus on
further growth, Turtlemint is actively working to onboard more advisors and
achieve its ambitious target of 1 million advisors. The company is committed to
supporting existing agents and prioritises long-term financial sustainability.
Turtlemint sees immense potential for innovation across the insurance value
chain. Turtlemint's achievement of 1 crore policies sold marks a significant
milestone in India's insurance journey. By leveraging technology, strategic
partnerships, and a commitment to empowering advisors, Turtlemint is
well-positioned to further bridge the insurance gap and make insurance
accessible to a wider population across India.
About
Turtlemint:
Founded in 2015 by Dhirendra Mahyavanshi & Anand Prabhudesai,
Turtlemint is a digital platform designed to help financial advisors understand
and distribute insurance to their community of customers. The platform helps
financial advisors instantly match each customer with a suite of products best
suited for their unique needs, through a digital solution, thereby making
advisors & their business efficient. Turtlemint, a Mumbai-based insurance
advisor-focused startup, last secured $120 million in a Series E funding round
led by Amansa Capital, Jungle Ventures, and Nexus Venture Partners at a $900
million valuation, bringing the seven-year-old startup closer to the unicorn
tag, having raised $190 million so far.