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Saturday, January 22, 2022

nivesh: Nivesh forays into insurance coverage area with Samavesh

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Nivesh, a WealthTech100 entrant for the yr 2020, has launched and expanded its product vary with Samavesh, a platform for all times, well being and normal insurance coverage merchandise.

The corporate has obtained a license for insurance coverage broking enterprise from the Insurance coverage Regulatory & Growth Authority of India (IRDAI) by its wholly owned subsidiary – Samavesh Insurance coverage Brokers Non-public Restricted, enabling it to supply all types of insurance coverage merchandise from all insurance coverage corporations.

Via Samavesh, Nivesh will attain greater than 3000 pin codes and companions in about 200 pin codes. Nivesh has additionally appointed Hira Jaiswal because it’s principal officer who was ex- LIC and has labored with United India insurance coverage for 30 years. The platform will allow the purchasers to pick the suitable insurance coverage plan after evaluating the quotes from a number of insurance coverage corporations, the corporate mentioned in a press release.

“Indians have very low insurance coverage protection proper now, resulting in vital wealth destruction for companies / households every time a calamity strikes. Taking the suitable insurance coverage protection is an integral a part of any wealth journey, and we intention to unravel this drawback with Samavesh,” Anurag Garg, Founder and CEO, Nivesh.com, mentioned.

The insurance coverage platform will cater to each city and rural prospects and shall be a pan-India initiative, providing all types of insurance coverage merchandise available in the market.

“Over the past decade, the life insurance coverage sector has reworked drastically. It has turn into essential for insurers to get aligned to the trendy day wants of their prospects and supply extra merchandise. As a digital-first platform, Nivesh solves the issue of low penetration of economic merchandise in India. With the introduction of Samavesh, the corporate has adopted a novel tech-human strategy that allows prospects to select from a plethora of choices and acquire the suitable insurance coverage plan that aligns with their monetary targets,” Padmaja Ruparel, Founding Accomplice of IAN Fund mentioned.

Nivesh raised $1.6 million in funding in a Pre-series A spherical led by IAN Fund early this yr.

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