This National Insurance Day, let's embrace innovation to deliver the peace of mind and protection of insurance to every doorstep
FinTech BizNews Service
Mumbai, June 27, 2024: Dhirendra Mahyavanshi, Co-Founder and CEO of Turtlemint, highlights the importance of insurance and financial literacy on Insurance Awareness Day 2024, which is celebrated on 28 June, 2024: “India, being one of the fastest-growing insurance markets, still has a relatively low insurance penetration rate of 4% of its GDP, leaving a sizable gap. This gap is largely due to a lack of awareness and accessibility of insurance and its critical role in financial stability during unforeseen incidents. The IRDAI is making commendable efforts to increase awareness and accessibility to insurance for the uninsured and underinsured segments, taking insurance to the last mile. On this National Insurance Awareness Day, the industry must spread awareness and work towards closing this gap. Harnessing the power of technology to make insurance more accessible is crucial for all players in the ecosystem. By streamlining processes, utilizing big data for personalized coverage, and providing on-demand options, insurtech is creating a future where obtaining the right insurance is possible right from your phone. This National Insurance Day, let's embrace innovation to deliver the peace of mind and protection of insurance to every doorstep."
