Turtlefin partners with Compass Brokers to enhance its distribution capabilities in UAE

2024-04-25 03:35:21 Business

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India, January 09, 2023: Turtlefin, India's leading Insurtech platform announced its partnership with Compass Insurance Brokers LLC, one of the biggest financial solution providers in the UAE, to create a unified and seamless platform to enhance their distribution capabilities in UAE markets. Through this partnership, Turtlefin will enable Compass's distribution teams to access the required information seamlessly and customize proposals for clients.

Turtlefin will provide access to its extensive, technology-driven solutions to become more efficient and provide cost-effective solutions. This will help in reducing proposal creation time by more than 50% and increase the sales efficiency by 30% along with better customer experience.

Turtlefin will enable Compass's vast distribution network to access all retail insurance products on its platform. Additionally, Turtlefin is also looking at providing its capability of digital prospecting and E-skilling with a vision to support and empower its network of advisors. This will strengthen the engagement of Compass Advisors with their customers and empower them with necessary tools to cater to their customer's insurance needs.

Speaking on the occasion, Amreesh Kher, Chief Partnership Distribution Officer, Turtlefin said, "This partnership exemplifies our belief in the opportunities in the Middle East markets with an aim to bring about transformation in the insurance distribution ecosystem. With our commitment to improve the distribution network and the insurance ecosystem, we are confident that our capabilities and interesting growth trajectory will further enable a future that will be beneficial for the entire community"

On the partnership, Mr Navin Nihalani, CEO of Compass Insurance Brokers LLC, said, "We at Compass always believe in a tech first approach going along the UAE vision of creating paperless digital environment. With the right combination of expertise from Turtlefin and our existing module, we want to strengthen our position as the pioneers of a common API framework in the UAE. We look forward to working with Turtlefin to take advantage of the opportunities our new strategic partnership will offer."

Turtlefin's platform provides end-to-end transaction capabilities on a selected range of insurance products for advisors. It is also working with some leading financial institutions in the India and UAE, to create a unified and seamless platform for the bank's insurance customers. By equipping advisers with the proper set of tools that can assist them in directing customers toward the most suitable insurance options, Turtlefin's services comprehensively meet the requirements of the new regulations in the UAE. Its offerings holistically meet the demands of the new regulations by empowering advisors with the right set of tools that can help them guide clients towards the most suitable insurance solutions.

About Turtlefin

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 customized 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 organizations, 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 Mahyavanshi 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, and Blume Ventures, Dream Incubator and Trifecta Capital & adding.

About Compass Insurance Brokers LLC

The company was established in 2007 and is one of the leading and multidimensional insurance solution providers in Dubai, UAE. Compass provides individuals and families with the advice, financial plans and services they need, to protect, invest and grow their wealth.

Compass has the expertise and experience needed to assist in exceptional planning, suiting the needs of Individuals and Corporates alike. Our comprehensive services program offers a wide range of Life, Health and General insurance programs which also include initial and ongoing consultation, to create a sustainable and substantial revenue stream for the client.