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Turtlemint, Kotak Life Insurance partner for distribution

Insuretech firm Turtlemint has signed up with Kotak Life Insurance to offer its products on its platform.

“We are starting with four to five products of Kotak Life Insurance and will expand to more products gradually,” said Dhirendra Mahyavanshi, Co-Founder, Turtlemint, adding that this is the seventh life insurer it has tied up.

It already has distribution agreements with life insurance companies including HDFC Life, Bajaj Allianz Life Insurance, Tata AIA, LIC and Aegon Life Insurance.

Suresh Agarwal, Chief Distribution Officer, Kotak Mahindra Life Insurance said the insurer wants to increase its distribution reach and is exploring the potential of the PoSP segment.

“With the partnership with Turtlemint, we are looking at both MintPro app where customers can buy the products online and the PoSP distribution network,”he said.

Turtlemint has a PoSP (Point-of-Sales Person) pan-India network covering 800 cities and serves over 5 lakh customers through more than 50,000 agents and has an annualised premium run rate of Rs 900 crore.

Source: The Hindu