back Back

4 InsurTechs making insurance easily accessible for Indians

By Leandra Monteiro

July 12, 2023

  • BimaPlan
  • Digisafe
  • Digital Insurance
Share

Digital Insurance, InsurTechsInsurTechs tackle diverse insurance distribution challenges by using technology to create new distribution channels, simplify distribution processes, and provide better customer experiences.

They use data analytics to identify customer needs and preferences and offer personalised insurance products and services to the underserved. By automating underwriting and claims processing, InsurTechs reduce costs and increase efficiency.

Here are 4 InsurTechs that are transforming the insurance industry and improving access to insurance for all:

Bimaplan is an InsurTech startup helping drive insurance adoption through technology. India has a low insurance penetration, and the low/middle-income population is underserved by legacy insurers and distributors. Bimaplan’s full-stack embedded insurance platform enables businesses to seamlessly distribute relevant insurance products to their customers. They partner with financial services companies, technology startups, e-commerce platforms, and companies in various segments to build customized insurance products for their users. Bimaplan is recognized by the Center for Financial Inclusion as one of the emerging global InsurTech startups driving financial inclusion.

DigiSafe Insurance is an InsurTech company aiming to bridge the glaring gap in the penetration of insurance between urban and rural areas. It focuses on empowering rural people, including farmers, by supporting them to make informed decisions and increasing employment opportunities and revenue. They are providing the most tailored insurance options to different insurance buyers and supporting them in managing financial risks and contingencies more efficiently.

M-INSURE is a technology-driven company that focuses on digital health inclusion for India’s NEXT 500 million. They offer affordable preventive and primary healthcare while enabling insurance solutions digitally. Their motive is “Sanrankshan – Swasthya – Suraksha” – Providing quality accessible digital health solutions, as well as insuring mass market population from various risks. By backing up technology with strong human emphasis, including highly personalized customer service, they provide a 360 ° Health ecosystem including insurance.

Plum is providing high-quality health insurance and corporate benefits at affordable rates. Benefits for employees for using Plum: Increase in employee satisfaction, Improvement in employee health & productivity and Reduction in health benefits cost. They are providing a simplified purchase and setup process for health insurance and benefits for employees.

Their highlighting features: No more negotiations with your broker and agents, get transparent pricing directly from the insurer, customize your insurance and benefits to your needs, Covid-19 treatment included, No waiting periods, No room rent or disease-wise limit, Maternity & newborn covered, Pre-existing diseases covered, Additional benefits provided – Doctor consultation, Health checkups, Mental wellness, Dental Care, Fitness and Nutrition.

ALSO READ: Wealth Management & Private Banking Systems Report Q1 2023

Previous Article

July 12, 2023

Emirates NBD launches upgraded WhatsApp banking service for customers

Read More
Next Article

July 12, 2023

Aafaq Islamic Finance & Network International partners to accelerate digital transformation

Read More






IBSi Daily News Analysis

June 21, 2024

BimaPlan

Industry experts react after India FIU fines Binance $2.2m, signaling tougher digital asset regulations

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 13, 2024

Fin+InsureTech Finsall raises $1.7m in Bridge Round led by Unicorn India Ventures & Seafund

Read More

June 12, 2024

5 RegTechs enhancing compliance for India’s BFSI sector

Read More

June 11, 2024

Mbank & Policybazaar.ae team up to streamline insurance solutions

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023