Safetree InsurTech clocked 60 million worth premiums by 31st March 2021

By Leandra Monteiro

Safetree, a Delhi-based InsurTech start-up has made a good headway in the premium collection for the period ending 31st March 2021. The startup, which is bringing forth new tools for risk protection, has clocked a premium collection of over INR 60 million within 8 months of commencement of business. The Company claims to be associated with over 25 insurance companies and has sold close to 4000 polices during this period.

The Company has over 1100 Point of Sales Agents across over 350 cities and towns in 24 states of the country. Safetree currently provides digital platform on both mobile and web to its agent to generate quotes and issue motor and two-wheeler policies on a real time basis and is in the process of the integration for health and life products with insurance companies.

”In addition to training our POS agents on insurance concepts and products, we do provide special emphasis on educating them on concepts of risk and risk mitigation so that they can sell products based on the risk appetite of the customers,” said Vikas Anand, co-founder and CEO of the start up. He mentioned that the Company has developed a tool called ‘Risk Janampatri’ which calculates risk profile of the customer on a real time basis.

Mr Anand mentioned, ”While due to Covid, we have seen increased demand for health and life products in last one year, but overall penetration of insurance products is still extremely low. Hence the Company uses innovative means including embedding insurance with other retail products to increase the penetration of insurance products.”  Elaborating further on the plans of the Company for the current financial year, he stated “we are planning to increase the number of agents to around 10,000 during current financial year and increase our presence in newer areas of insurance such as professional liability, cyber insurance and home insurance etc.”