How Turtlemint sells 10,000 insurance policies every day
Banking Frontiers|December 2021
The platform provides advisors with digital tools enabling them to sell multiple insurance products of different companies through one
Mehul

Dhirendra Mahyavanshi points out that Turtlemint has been fairly active on multiple social media channels

Founded in 2015, India-born insurance platform Turtlemint has a unique online-offline model.

Dhirendra Mahyavanshi, Co-Founder, explains: “Our hybrid model empowers insurance advisors across the country with digital tools to navigate an otherwise cumbersome offline selling process at scale quickly. We have grown significantly since inception via our user-friendly and innovative digital platform.”

MOBILE APP, SEAMLESS SELL

One of the main reasons why Turtlemint has been able to achieve good growth is because it has not lost sight of its overarching goal to improve insurance penetration in the country by leveraging the right technology tools. It currently has a base of approximately 3.5 million clients, which it acquired online in a short span. It sells around 10,000 policies daily. Health insurance is its fastest-growing segment which has grown by 2x in the last year and by 35% y/y in the first half of the current FY.

Turtlemint has been empowering the most important cog in the insurance ecosystem, i.e., the insurance advisor by leveraging the technology. Dhirendra explains: “Our mobile app Mintpro enables advisors to seamlessly sell the right insurance policies to their clients and also to expand their business. The pandemic has accelerated the pace of digital adoption and I am happy to say that we are already ahead of the curve when it comes to creating seamless digital solutions.”

100% of Turtlemint’s business is digitally driven. The app has various facets - firstly, it provides insurance advisors with digital tools that can enable them to sell multiple insurance products of multiple insurance companies through one single mobile application. Secondly, the app helps insurance advisors to expand their business through better service to existing clients and by expanding the client base. Dhirendra adds: “We have created a groundbreaking multilingual digital solution in the form of the Mintpro app that empowers advisors and enables them to grow their business by selling the right insurance policies, to the right people, and in a seamless manner.”

UPSKILLING ADVISORS ONLINE

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