Thursday, May 26, 2022

Slide Slide
Home Funding Insurtech firm Turtlemint raises $120m for product expansion

Insurtech firm Turtlemint raises $120m for product expansion

The advisor community of the insurtech firm today has 160,000+ insurance advisors using the Turtlemint platform in 15,000+ pin codes in India

Indian insurtech firm Turtlemint, to grow its business and its leadership team and expand its product, has raised $120 million in series-E funding.

The insurtech firm, a digital platform founded by Dhirendra Mahyavanshi and Anand Prabhudesai in 2015, is designed to help financial advisors understand and distribute insurance to their community of customers. The insurtech firm helps financial advisors instantly match each customer with a suite of products that is best suited for their unique needs, through a digital solution thereby removing the hassles of paperwork, a statement from the company said.

“Insurance is an important risk mitigation tool that needs to be universally accessible. However, we believe that access is only one aspect of the insurance purchase journey. Another equally important aspect is informed decision making. Our solutions are designed to holistically enhance both these aspects through digital solutions that empower insurance advisors. Innovation and technology will continue to be the core focus of Turtlemint as we continue to increase our footprints in tier 2, tier 3 cities and beyond,” said Dhirendra Mahyavanshi, co-founder of the insurtech firm.

The funding round was led by Amansa Capital and Jungle Ventures. Along with other existing investors, the round also saw participation from new investors, Vitruvian Partners and Marshall Wace. This brings the total funding raised by the company since inception to $190 million.

The advisor community of the insurtech firm today has 160,000+ insurance advisors using the Turtlemint platform in 15,000+ pin codes in India. The insurtech firm’s Advisor App branded as TurtlemintPro, allows empaneled PoSP advisors to fully manage their insurance business using a simple mobile app. Aside from selling a range of products across Health, Life, PA (Personal Accident), Motor Insurance, etc; the App also provides advisors the ability to build stronger customer relationships by enabling sharing of personalised branded content and quotes. It also offers a mobile based training and skill development program for advisors through the Turtlemint Academy section on the app.

Also readCIO News interviews Shri Wangki Lowang, Minister (IT) of Arunachal Pradesh

Do FollowCIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter

About us:

CIO News, a proprietary of Mercadeo, produces award-winning content and resources for IT leaders across any industry through print articles and recorded video interviews on topics in the technology sector such as Digital Transformation, Artificial Intelligence (AI), Machine Learning (ML), Cloud, Robotics, Cyber-security, Data, Analytics, SOC, SASE, among other technology topics

Khushbu Soni
Chief Editor - CIO News | Founder & CEO - Mercadeo


Please enter your comment!
Please enter your name here

- Advertisment -1x1 banner1x1 banner1x1 banner1x1 banner

Most Popular

INT. on global expansion path; to hire 2500 in next 3 years with key focus on leadership hiring

Founded in 1997, INT. has charted a remarkable course dotted with successful deliveries and steady YoY revenue and profit growth over the last two...

L&T Technology Services inaugurates Engineering R&D Centre in Poland to provide Embedded and Digital Solutions to Clients

Krakow ER&D Centre to cater to major industries including Automotive and Hi-Tech; LTTS to ramp up the centre headcount to over 300 engineers India, May...

Schools and colleges must start building a technologically inclined foundation for students, says Manoj Madhavan, CIO at Blue Dart Express Limited

To anyone looking to begin their careers in information technology or any of its sister streams, my only insight on this front is: opportunities...

Indian Public Cloud market to reach $13.5bn by 2026

To automate processes and drive innovation with public cloud as the foundation, the increased spend is expected to continue as enterprises invest in emerging...

Recent Comments