The association is prioritising distribution oversight, strengthening corporate risk management, and advancing digital and regulatory reforms amid mounting catastrophe risks.
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.
Persistent underwriting losses and high distribution costs weigh on India’s general insurers, with direct models and customer ownership seen as key to improving economics.
Under the proposed model, channels that require greater involvement in customer onboarding, advice, and ongoing servicing are expected to attract relatively higher payouts.
