ZenMoney enters insurance broking

Hyderabad-based financial services company ZenMoney has entered the insurance broking service business under ZenMoney Insurance Broking Services Private Limited.

The firm will sell products in both life and general insurance sectors, including health motor among others.

Pratap Kantheti, managing director of ZenMoney, said the firm was expecting the brokering services business to contribute 50 per cent to the group's revenues in the next three years.

Selling insurance products is a very large business opportunity while Zen is well placed to secure a big chunk of this business based on its extensive presence in AP besides a large existing customer base, according to him.

ZenMoney will also offer value-added services to its corporate clientele in their risk-mitigation process through insurance, according to him.