Newly Established Insurance Agency Investment Opportunity in Delhi, India
|Employees||5 - 10|
|Legal Entity||Private Limited Company|
|Reported Sales||USD 70 thousand|
|Run Rate Sales||USD 140 thousand|
|EBITDA Margin||25 %|
|Local Time||9:56 AM Asia / Kolkata|
|Listed By||Business Owner / Director|
- We are an insuretech startup based in Delhi with the goal of empowering Bharat to protect better, invest better and borrowing better.
- At the moment, we are operating in the B2B2C space in insurance (motor insurance) with a particular focus on underserved agents writing up to Rs. 10 lakhs of premium a month in B30 towns in India. This is a segment of the industry that is underserved by other brokers and they have the potential to write up to INR 30 lakhs of premium a month. Two reasons why they end up losing business are the high turnaround times for getting quotations and payment links. While providing the necessary service, we are simultaneously developing our partner's app so that these two issues are solved and their volumes can increase. Another issue that we are addressing is agents' cash flow. They typically have to wait for 60-90 days for payouts from others while we are releasing payouts on a T+1 basis.
- Since the start of our operations in May 2021, we have written Rs 2.6 crore in insurance premium, sold close to 5,000 policies, and have an active base of close to 700 partner agents spread across North & East India.
- We are writing on average Rs. 1.25 lakhs of premium daily.
- Generated Rs. 9 lakhs in revenue (commissions) in April 2022.
- Launched partner’s app on Google Play Store.
- Have a team size of 8 across sales, ops, tech, and finance. Have 700 agents to sell our services.
- The founder has 20+ years of experience in financial services.
- We plan to introduce micro insurance, credit, and investment solutions as and when our partners are trained to cross-sell and up-sell.
- We are currently active in Delhi NCR, Bihar, West Bengal, Uttar Pradesh, and Madhya Pradesh.
- Company has no liabilities.
- Company has 2 directors with 99% and 1% share distribution.
Distribution of life & general insurance through the B2B2C channel.
Laptops are the main tangible assets. Partner's app is an intangible asset.
Operating from a coworking space in South Delhi and have a regional presence in East Uttar Pradesh.
1 day agoExecutive Director, New Delhi, Financial Consultant connected with the Business
3 days, 21 hours agoDirector, Technology, Noida, Individual Investor / Buyer connected with the Business
1 week, 2 days agoPresident, Residential Apartment Services, Tokyo, Individual Investor / Buyer connected with the Business