Insurtech company, InsuranceDekho, is expanding its reach in Tier 3 and beyond cities by partnering with micro-entrepreneurs to create awareness about insurance and source and support its customers in these cities.
These micro-entrepreneurs are engaged as point of sales persons (PoSPs) of InsuranceDekho.
The move is a part of the organization’s initiative called InsuranceDekho Saathi under which users would be able to evaluate and buy insurance products from their trusted local offline stores.
Over the last few months, InsuranceDekho has partnered with more than 2,000 offline stores in 15+ cities. By the end of FY22, InsuranceDekho plans to partner 50,000 micro-entrepreneurs across 500+ Tier 3 and beyond cities across the country like Ludhiana, Jalandhar, Ajmer, Sikar, Udaipur, Jamshedpur, Mysore, Warangal, Kanpur, Aurangabad, etc to further deepen its reach, give more choice to and better serve the customers, the company said.
Under this initiative, the company is extending full support to its partner entrepreneurs, from training for different insurance products, to demand generation, policy issuance, post-policy support, and claims assistance. All InsuranceDekho Saathi partners will create awareness about and cross-sell InsuranceDekho’s insurance products as allowed under IRDAI guidelines like life insurance, health, and motor insurance to their network and assist local customers with policy support as well as with claim settlement on the field.
Speaking on the move, Ankit Agrawal, CEO and co-founder, InsuranceDekho, said: “Insurance penetration in India is ~4% currently, and this number further dwindles as we move to Tier 3 and beyond cities. We believe that there is an imminent need for us to create awareness about and expand the distribution of insurance products in the country. Backed with this vision, we launched the Saathi programme earlier this year and have observed high traction from both partners and customers. The initiative is a true win-win for the ecosystem as it helps our Saathi partners to find social standing and increase their income opportunities while at the same time enabling customers to buy an insurance product from their trusted local retail partner.”
