27
Jan
2021
0

Digital safety – Insurtech is the key!

In India, the citizens have not fully explored insurance. As per Government and industry analysis, 75% of the Indian population doesn’t have any kind of insurance. Awareness and also reach, being a loophole in the insurance products being offered is the strong catch point for what is evolving rapidly now. Insurtech in India has created a drastic change in the way people access insurance products.

Insurance covers various aspects like life, travel, health etc.

Technology steps in here. It makes the services reachable and educates the untapped customers through seamless customer experience.

Insurtech is a combination of insurance and technology along with a whole lot of Innovation. It is here to change the scenario of Insurance in India.

Insurtech companies in India

There are many Insurtech players in India like, Acko General Insurance, which is the winner of  Excellence in InsureTech category at India FinTech Awards’ 20, Digit Insurance, Toffee Insurance, PolicyBazaar, CoverFox, Paytm Insurance, GramCover etc.

Toffee Insurance is one of the unique Insure-tech startups which provides a wide variety of products like Backpack, Cyclist, Dengue, Mosquito and Daily Cash plan to name a few. The CEO and Co-Founder, Rohan Kumar, speaks about insurance and the COVID-19 situation in a talk with our fintech ambassador.

Mr. Rohan Kumar, CEO and Co-Founder at Toffee Insurance

The new normal for Mr. Rohan is that COVID has cut down the noise in the organization and made people more empathetic post COVID.

However, prior to the pandemic, insurance has been a tough market according to Mr. Rohan. Firstly, people didn’t recognize the need to have an insurance cover. Secondly, liquidity, awareness, education and access are the parameters that affect when buying insurance.

Toffee Insurance was started with the goal to try to create accessibility, affordability and relevance of insurance products and make simpler and easier products that make people understand.

Watch the full exclusive interview here.

 

15
Jan
2021
0

Weekly FinTech Scoop

The FinTech industry has gone through swings in the pandemic. Yet there have been updates and news coming up related to FinTech which have showcased that the efforts, innovation and spirit to fight never went down. Some of the fintech news related to funding, acquisitions and new launches were witnessed in the past week which have been briefed down in shots to honour the FinTech players.

FinTechScoop01

Insurtech startup Finsall raises Rs 2.4 crore in seed round.

It has raised Rs 2.4 crore in a seed round from Unicorn India Ventures. The other participants were SEA Fund and angel investors like Karthik Sridhar and Tirumala Gudla.

The startup plans to use these fresh funds to expand its operations in India into Tier I cities and beyond.

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3
Dec
2020
0

Meet the Fintech companies leading the innovation wave even in the aftermath of a global pandemic

  • The 4-month IFTA process culminated with recognising the most innovative companies in a number of fintech and allied fields
  • These companies have shown great potential despite the challenges posed by the new normal
  • 50+ industry thought leaders evaluated companies and the process was managed by Deloitte

In a year that has been fraught with challenges for many, leading companies including Amazon Pay, PayU, HAPPY, WazirX, CashRich, and TransUnion CIBIL came together to celebrate global fintech excellence at IFTA 2020. The entire assessment framework was developed and managed by Deloitte and MEDICI.

India Fintech Forum presents companies that are leading the fintech innovation wave in 2020:

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