However, only around 1 in 10 life and health policies are purchased through direct digital channels, as buyers continue to seek human advice before committing.
The offering provides SMEs with bundled coverage tailored to their unique risk profiles, eliminating the need to purchase and manage multiple policies.
The state-owned insurer plans to strengthen data infrastructure, cybersecurity and digital claims capabilities while expanding direct-to-customer insurance distribution.
Co-founded by former Tata AIG CEO Neelesh Garg, the Indian start-up is eyeing a broader product rollout, including commercial vehicle and group health offerings, in the coming months.
The incorporation of Mahindra Manulife Insurance marks an early step in the companies push to address India’s protection gap with a digital-first model.
