Weekly Insurance Round-up Tuesday, May 3, 2022
Hello there! 👋
We're back with the next edition of Beshak's Weekly News Round-up - an analysis of all Insurance News & Updates, straight from our research desk! Don't forget to share your feedback with us, and give us a thumbs up if you find this helpful!
Let's get started! 🚀
- One Moto India and Royal Sundaram have come together to sell insurance policies to their EV customers at the point of dealerships.
- With this partnership, customers of One Moto India will be able to buy motor insurance policies with the Zero Depreciation add-on, competitive pricing, and cashless facilities for claims at One Moto centres.
- One Moto India is the Indian subsidiary of a premium British electric two-wheeler manufacturer. They recently entered India and launched 3 models in India - Commuta, Electa, and Byka.
- Recently, One Moto India has also partnered with Global Assure India to provide easy roadside assistance services all across India.
- StepSetGo (SSG), a fitness and health firm, is now set to offer medical insurance to its users.
- The firm has partnered with Symbo Insurance and launched unique and budget-friendly health insurance on their app, which will offer users the opportunity to receive cashback based on their fitness activity.
- The company will allow users to choose between two insurance coverages - ₹3 Lakhs and ₹5 Lakhs at an affordable low price. And the users, by completing monthly step-based challenges, can get their premium back.
- Founded in 2019, StepSetGo is a health and fitness app that lets users earn coins after every walk. These coins can be redeemed in the in-app store and used for free products or discounts.
- Symbo, headquartered in Mumbai, is a composite insurance broker. It deals in all types of life and general insurance products.
- Turtlemint raised $120 Million in a Series E round that was led by Amansa Capital, Jungle Ventures, and Nexus Venture Partners. Existing and new investors such as Vitruvian Partners and Marshall Wace also participated in the round.
- The company will use these funds to expand in new locations, scale its leadership team and strengthen its product line.
- In March 2021, Turtlemint had raised $46 Million in a Series D round. To date, it has raised $190 Million.
- Turtlemint is founded by Dhirendra Mahyavanshi and Anand Prabhudesai. It has partnered with over 45 insurance companies and has onboarded 1,60,000 insurance advisors across 15,000 pin codes in India.
We need your feedback 🙏
Love it? Hit the 'It's perfect' button below! Have a suggestion to improve our content? Please leave us a comment. We absolutely appreciate it!
Be the first to get this weekly news analysis, on your phone. Join the exclusive Telegram Channel for Financial Advisors 👉 t.me/beshakforadvisors