AI-based financial wellness platform, CASHe’s parent company, Aeries Financial Technologies’ (AFT) has acquired Centcart Insurance Broking for an undisclosed sum.
The acquisition of the Hyderabad-based broking firm enables CASHe to sell insurance plans across life and general insurance categories from all insurance companies in India and to to expand its financial services, offering customers access to a wide range of insurance products alongside its existing FinTech solutions.
Centcart Insurance Broking brings with it an IRDA-approved insurance broking license, ensuring compliance and operational readiness. As a direct insurance broker, the company can now sell insurance products across diverse categories from all insurance companies operating in India, including life and general insurance (such as health and vehicle insurance), according to a release. “India, as one of the fastest-growing economies globally, has experienced a surge in demand for insurance products and services, resulting in a notable increase in insurance penetration through brokers. This acquisition represents a significant milestone in our insurance journey, bolstering our momentum and accelerating growth in this sector,’‘ V Raman Kumar, Founder Chairman, Aeries Financial Technologies said.