YES Bank partners with Turtlefin to launch ‘EasyNsure’, a one-stop platform for offering insurance products to customers

2024-11-24 01:15:43 Business

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Mumbai, November 29th , 2022: TurtleFin, India's leading insurtech platform, has partnered with YES BANK, to create a comprehensive technology platform ? EasyNsure. Turtlefin's distinctive API will power the platform to offer a bouquet of holistic insurance solutions on a single platform, at the click of a button.

EasyNsure, is a first-of-its-kind proposition for Yes Bank that will bring multiple insurance partners onto a common platform, providing a host of benefits such as - a seamless single point online insurance service, ability to compare and select a suitable insurance cover basis the customer's need, as well as a facility to compare costs for rationalizing purchase decisions, among others. Turtlefin's unique and customized technology solutions will enable the platform to offer seamless customer experience to its clientele.

The EasyNsure platform is already live with over 40 Life and General Insurance plans being readily available for consideration. So far, the platform has created over 30,000 insurance quotes with more than 6,500 proposals and 5,200 policies being punched. This has helped the platform recorded a total premium of INR 6,050 lakh.

Commenting on the partnership, Mr. Sanjiv Roy, Country Head - Fee Income, YES BANK, said, "We, at YES BANK are constantly exploring innovative ways to simplify the customer's journey across products and services. Digitalization has played a key role in our endeavour to achieve this feat. In keeping with this thought, we are happy to have partnered with TurtleFin to launch EasyNsure that aims to offer our customers with a bouquet of holistic insurance solutions on a single platform, at the click of a button. We strongly believe, this partnership will further strengthen YES BANK's presence within the insurance domain as customers will have the absolute right to choose from all the available options, basis their requirement and financial comfort. We will continue to co-create more such propositions that provide customers with an inclusive e-banking experience."

Speaking on the occasion, Mr. Amreesh Kher, Chief Partnership Distribution Officer, Turtlefin said, "Bancassurance landscape has been evolving over time, and with the new set of challenges, newer solutions are required for banks to enhance their distribution processes. Turtlefin provides a disruptive solution by digitising and simplifying their entire insurance distribution value chain and ensuring that our cutting-edge technology acts as a bridge between the insurer and the bank. With this alliance, our objective is to expand our reach and be the choice of insurtech platform for the bancassurance businesses, and fulfill their evolving needs. We are creating a system for YES BANK that will be channel agnostic, and any business vertical will be able to access it conveniently and offer all the products to its customers hassle free. Turtlefin will be the one-point contact for all future integrations and tech requirements with the insurer on behalf of YES BANK".

This robust technology platform will also allow business tracking across Bank hierarchy, simplifying revenue reconciliation. It will enhance in tracking the productivity of RMs on quotes created versus actual conversion of leads.

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 Mahayavanshi 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 YES BANK

YES BANK is a 'Full Service Commercial 'Bank' providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES, a wholly owned subsidiary of the Bank. Headquartered in Mumbai, it has a pan-India presence including an IBU at GIFT City, and a Representative Office in Abu Dhabi.