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Insuremile has raised pre-seed funding of USD 35,000 from two Kolkata based mostly traders with an purpose to take insurance coverage providers to the hinterland whereas empowering over 200 million gig-workforce within the nation.
The funding was from Ambuja Neotia Group Director Parthiv Neotia, and Indus Web Applied sciences CEO Abhishek Rungta. It was led by Seeders– an early-stage angel group.
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“The subsequent wave of progress will come via deeper penetration of insurance coverage among the many underserved, particularly within the rural markets. Among the many new channels, social promoting might be key disruptors on this phase.
We’re excited to be part of Insuremile’s journey the place we consider the group has cracked the key sauce of executing it,” Rungta stated.
Insuremile was based in 2017 with the intent to alter the dynamics of the insurance coverage sector in India via a singular distribution mannequin. As an insurance coverage internet aggregator, the first purpose of this phygital platform is to reinforce the consumer expertise by letting clients evaluate a number of insurance policies at a time earlier than making a selection based mostly on their particular person wants.
It had earlier raised USD 100,000 as angel funding.
‘India’s gig economic system comprising greater than 200 million workforces generates vital traction throughout numerous industries. At Insuremile, our imaginative and prescient is to supply these gig staff with focused insurance coverage merchandise aiming at monetary safety. We’ll accomplish this utilizing our distinctive merchandise, distribution mannequin and touchpoints with companions,” Insuremile Co-Founder, Mallesh Reddy stated.
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