India’s insurance market is filled with bygone products, which do not cater to 95% of the market's demand for specific products such as illness-specific insurance, primary care with insurance, and surgical insurance to name a few.
We, at IMT, aim to target this white space by creating innovative products that fulfill this new demand by empowering the agents. Agents are the largest insurance distribution channel in India and cover 85% of the premium collection.
Agents collect 20B premium every year. With a 5% take rate, it’s a 1B dollar market opportunity growing at 22% CAGR.
Kunal has 15+ years of experience working with insurance companies and building agent networks, while he scaled his brokerage business to 3M dollars in revenue. Rachit has 12+ years of experience in building tech products, he was a founding engineer at Payu (stripe of India).
