Chennai-based online insurance broker EasyInsuranceIndia.com has tied up with 20 insurance companies, including public sector life and non-life insurers.
“The company has recently got approval from the Insurance Regulatory and Development Authority (Irda) to start this facility and we are expecting to strike in this new form of business,” said EasyinsuranceIndia.com chairman V Narayanan, who earlier this week announced the company’s partnership with state-owned Oriental Insurance Company.
“The penetration level of life insurance in the country is still very low at 5 per cent, while the non-life insurance sector comprises only 0.4 per cent. So, we are very hopeful to get good business,” he added. “India’s insurance market is clocking Rs 1 lakh crore and we are hopeful of getting 5 per cent of premium business from this mode in the next couple of years,” he added.
