Press Release

Droom partners with Turtlefin to offer insurance to it’s customers

Turtlefin, India’s leading Insurtech platform announced its partnership with Droom Technologies, India’s pioneering automobile e-commerce platform for buying and selling used and new vehicles, to provide motor vehicle insurance services. Through this strategic partnership, Turtlefin will be able to extend an option of availing comprehensive motor insurance products to Droom’s customers buying two wheeler and four wheeler vehicles online.

With this partnership, Droom will leverage Turtlefin’s One API product and power its interface (consumer app and website) thus providing premiums from all the top insurers available in India to its customers and showcase the best possible vehicle insurance options in just a click. This way, Turtlefin will be able to assess risks more intelligently and provide real-time fact-checking and auto insurance quotations, providing a seamless customer experience. The partnership will be valid for 3 years and will be mutually beneficial for both the brands.

Turtlefin will offer Droom’s customers a specially curated offering, with a suite of benefits along with additional covers for vehicles from varied trustworthy insurance companies. Customers will get to experience a seamless single point online insurance service to compare and select an insurance cover, compare costs that meets their specific requirements.

Mr. Amreesh Kher, Chief Partnership Distribution Officer, Turtlefin said, “The strategic partnership between Turtlefin and Droom Technologies will bring together our proprietary Insurtech stack and Droom’s unique play in automobile e-commerce sector. With Turtlefin, we have digitised and simplified the entire insurance distribution value chain benefiting all stakeholders. Our technology is geared to offer a great mix of competitive products and choice to the customers. This partnership embarks our journey in the auto tech segment, maximizing the value and satisfaction Droom customers will receive.”

Mr. Sandeep Aggarwal, CEO & Founder of Droom technology said, “We are trying to build an entire AI and technology-based ecosystem for seamless buying and selling of used and new vehicles and services. We are confident that this partnership with Turtlefin will further strengthen Droom’s Vehicle Insurance offerings and buyers will have the absolute right to choose from all the available options and the rates offered at a competitive rate than any other portal.”

Droom provides the largest selection of automobiles which includes – cars, scooters, motorcycles, trucks, tractors, planes, and yachts. Droom is present in all the segments ranging from mass, mid, premium, and luxury segments and is the only platform to penetrate tier 1,2,3, and 4 cities.

 

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 customised 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 organisations, 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 , Blume Ventures, Dream Incubator and Trifecta Capital & adding.

About Droom

Droom offers a 21st-century e-commerce experience for automobile buying and selling. Droom is the market leader for automobile retail in India with a market share of 65% in B2C pure-play E-Commerce. Droom offers India’s largest selection of automobiles with 300k+ vehicles online in 1,100+ cities — both used & new, cars & 2-wheelers, and other vehicles too.  Droom is a technology and data science company that facilitates automobile buying and selling online through a combination of our asset-light automobile e-commerce platform along with a technology-driven vertically integrated proprietary ecosystem of products and services for the automobile industry. Our automobile e-commerce platform, which includes our website and mobile apps that offer users selection, low price, trust, and convenience second to none. Our US patented proprietary technologies offer full control and curation in buyers’ journey including benchmark pricing, inspection, vehicle history, vehicle discovery, used vehicle certification, loan, insurance and doorstep delivery.

 Droom has sold 500k+ vehicles and served over 1.5 million happy customers with its products and services.  Droom was founded by Sandeep Aggarwal, the only tech-entrepreneur in India who has funded two Unicorns back-to-back (ShopClues and Droom).  Droom is among the most trusted consumer internet brands in India often recognized for its innovative approach and technology and is backed by marquee global investors including Lightbox, Digital Garage, Toyota Group, Recruit, Beenext, Beenos, 57 Stars and many multibillion-dollar family offices in SE Asia and Hong Kong.

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