InsuranceCity

  • Delhi, India
  • FinTechInsurance, Marketplace, Consumer Internet

Compare online policies and get advice from local expert agents

Founded:
2016
Stage:
Ideation
Market:
B2C

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Team Summary

It's a single founder story. "Akshat Goel"

Before working on my idea, I had a successful 2 year stint at MyRefers, a job referral marketplace. Been mentored for 2 years by Lalit Bhagia(Founder MyRefers, Ex - VP Digital Star TV, EX - APAC Head Digitas). Worked very closely with him which gave me the entrepreneurial bug. After MyRefers, currently I am heading sales for LetReach, a web push notification platform, funded by vCommission.

It has been a dramatic start, after leaving MyRefers and before starting my new role I decided to have a break with my parents. Spending more time with them. Then a conversation with my dad struck on how 10 years back he was a successful insurance agent, challenges he faced and the ways of making money in the Insurance industry. This is how the idea of InsuranceCity was born from the pain points of an insurance agent.

Team

Founding Team

Akshat Goel


Founder

Product/Service Summary

Data says that only 4% population is insured. And everything is moving online. The backbone of insurance industry i.e from where 95% of revenue comes from is offline agents. In the time when everything is moving online the small agents are not able to do business online. InsuranceCity has the vision to be the marketplace for insurance where policy buyers can meet insurance agents. Insurance city also envisage to create a DIY platform for agents to create a website to collect leads.

The model is simple where the insurance seekers register themselves on InsuranceCity and insurance agents are able to reach out to them. Insurance agents also get to create their own website and get assistance in marketing services. With own investment we have been able to start the development of the product.

Product/Service Descriptions