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InsuranceDekho, an insurtech, has entered into a strategic partnership with the Life Insurance Corporation of India (LIC) through which the latter’s products will be available for all customers on its platform pan-India.
“We are delighted to partner with the largest insurance company in India - LIC. This partnership will allow us to achieve our aim of democratizing insurance and making it accessible to everyone despite the geographic or class divide”, said Ankit Agrawal, CEO and Co-founder, InsuranceDekho,
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Premium booster. Analysts see change in accounting policy will enhance shareholders’ pieInsuranceDekho has 330+ products from 45 insurers live on its platform. Partnership with LIC would enable InsuranceDekho to provide the entire gamut of insurance solutions to customers throughout the country.
“LIC is India’s most trusted insurance provider and by joining hands with them, our vision of establishing 100 per cent penetration in the remotest towns of the country will become easier to manifest. We will leverage the best technology, POSP partner practices, and innovation to set new heroic benchmarks for our partners, insurance advisors, and customers”, Agrawal said.
Jayant Kumar Arora - Regional Manager (MBAC), LIC said, “We are excited to join hands with the leading insurtech company of India - InsuranceDekho. Both organizations share the common vision of insuring every Indian. With this partnership, we plan to leverage InsuranceDekho’s technology and analytics to further expand our customer base and provide best-in-class services to all customers.”
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LIC's profit after tax surged to ₹15,952 crore in the July-September quarterInsuranceDekho is on course to end FY23 at ₹3,000 crores annualized premium run-rate. It is present in more than 1,300 towns, covering 93 per cent of pin codes in India and is working on covering the remaining places soon to establish 100% penetration in the country.
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