Turtlefin, India’s premier Insurtech platform, announced a partnership to provide motor vehicle insurance services with Droom Technologies, India’s pioneering automobile e-commerce platform for buying and selling used and new vehicles.
Turtlefin will be able to offer complete motor insurance policies to Droom’s clients who purchase two and four wheeler cars online as a result of this strategic agreement.
Droom will use Turtlefin’s One API offering to power its interface (consumer app and website), allowing it to provide premiums from all of India’s top insurers to its clients and highlight the best possible auto insurance options in just a click.
Turtlefin will be able to better analyse risks and provide real-time fact-checking and auto insurance quotes, resulting in a more smooth client experience.
The partnership will last three years and will be advantageous to both brands.
Turtlefin will provide Droom’s customers with a carefully curated package that includes a suite of perks as well as supplementary vehicle coverage from a variety of reputable insurance carriers.
Customers will benefit from a streamlined single-point online insurance solution that allows them to compare and select an insurance policy that matches their individual needs.
“The strategic alliance between Turtlefin and Droom Technologies will bring together our proprietary Insurtech stack and Droom’s distinctive approach in the vehicle e-commerce market, We digitised and simplified the whole insurance distribution value chain using Turtlefin, benefiting all parties. Our technology is designed to provide clients with a diverse range of competitive products and options. This collaboration kicks off our journey into the automotive technology area, boosting the value and satisfaction Droom consumers will receive.”stated Mr. Amreesh Kher, Chief Partnership Distribution Officer at Turtlefin.
“We are striving to develop a whole AI and technology-based ecosystem for smooth buying and selling of old and new vehicles and services, We are certain that this collaboration with Turtlefin will further boost Droom’s Vehicle Insurance offers, and purchasers will have complete freedom to select from all available alternatives and prices at a lower cost than any other portal.stated Mr. Sandeep Aggarwal, CEO and Founder of Droom technologies.
Droom provides the largest selection of automobiles which includes – cars, scooters, motorcycles, trucks, tractors, planes, and yachts.
Droom is present in all the segments ranging from mass, mid, premium, and luxury segments and is the only platform to penetrate tier 1,2,3, and 4 cities.
Turtlefin is the enterprise suite of products of India’s leading insurtech platform – Turtlemint.Turtlemint aims to bridge the gap in the current traditional insurance landscape with Turtlefin’s comprehensive technology.
It is one of the pioneer technology platforms enabling insurance distribution for enterprise customers.
Being an innovation-first company, Turtlefin creates unique and customised technology solutions that can add tangible value to institutional customers and enable their sales teams to provide insurance as a solution in an informed and seamless manner.
Turtlefin empowers financial advisors, both individuals and large financial/ non-financial sector organisations, by offering them a comprehensive technology platform for the end-to-end insurance servicing needs of their customers.
Further, it enables e-commerce websites to seamlessly embed insurance as a product offering on their website. It uses plug-and-play API’s to integrate the solutions so that no additional technology infrastructure needs to be created by its customers.
Turtlefin is currently working with leading banks, insurers, brokers and commerce players in India and the Middle East.
Founded in 2015 by Dhirendra Mahayavanshi and Anand Prabhudesai, Turtlemint has created a wide network of 250,000+ digital partners and empowered them with the right set of digital tools that enables them to provide insurance policies to their customers.
Turtlemint has raised close to USD 190 million from marquee investors Jungle Ventures, Nexus Venture Partners, Amansa Capital, Sequoia Capital India, GGV Capital, Vitruvian Partners, Marshall Wace American Family Ventures, MassMutual Ventures , SIG , Blume Ventures, Dream Incubator and Trifecta Capital & adding.