Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Industry News

| More

InstantPay granted Corporate Agency license by IRDA

Posted On: 2019-10-05 10:15:39

InstantPay, India's largest Inclusive and Neo Banking platform, has received the Corporate Agency license from Insurance Regulatory Development Authority (IRDA). The company also shared its plans to start selling insurance products through its entrenched network of 1 lakh merchants, in the next couple of months. It is working on fostering partnerships with leading insurance companies.

InstantPay will be offering a range of insurance products, including health, general and life insurance to the end customers. It aims to reach out to millions of underbanked Indians in the tier-2 and tier-3 cities of the country. It will be deploying additional manpower in the current and next financial year to build its insurance vertical as well as explore new territories.

Speaking on the sidelines of the announcement, Mr. Shailendra Agarwal, CEO, InstantPay said, "The granting of the CA license by IRDA is an important milestone for InstantPay and deepens our belief towards playing a pivotal role in the industry. We already have an extensive network of merchants who have been enabling financial services for the end customers and are committed to driving financial inclusion in India. Insurance is an extremely underpenetrated category with 3.69% penetration in India as per a report by IRDA earlier this year. We aim to sell innovative products that will appeal to the larger India, through our merchant network. We look forward to partnering with any three insurance companies in the health, general and life insurance segments."


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Windrose Capital leads the $600K investment round in Nivesh.com

CarDekho closes $70 million round from leading investors in China and Europe

Bosch Power Tools inaugurates Bosch Service Center in Mumbai, India

CarDekho Group forays into Philippines, acquires Carmudi

Dun and Bradstreet launches first-of-its-kind cloud database repository on Indian businesses

GoAir attracts global delegates at Global Exhibition on Services 2019

Sluggish demand tempered cement prices; demand growth likely around 4% in FY2020: ICRA

ICAI signs MoU with Kuwait Accountants and Auditors Association (KAAA)

PAYBACK India Strengthens Travel Portfolio by Partnership with Online Travel giant Cleartrip

FlexiLoans.com emerges among the top 100 global FinTech innovators' list by KPMG and H2 Ventures

Over half the delayed housing projects in India's 9 residential markets are in MMR: PropTiger report

Cognizant Named an AI Consultancy Leader in Asia Pacific by Independent Research Firm

SIDBI plans to set up Swavalamban Connect Kendras to promote the spirit of entrepreneurship

Virgin Atlantic relaunches daily direct flights from Mumbai to London

MX Player raises $110 million from Tencent and Times Internet

OPPO to Launch Qualcomm-Powered Dual-Mode 5G Smartphone by End of 2019

Indians Accumulating Gold The Smart Way This Dhanteras With ETMONEY GoldDeposit

Mr. Ratan N Tata felicitated with the Chiratae Ventures Patrick J. McGovern Lifetime Achievement Award 2019

SIDBI acknowledges outstanding performers in the Micro and Small Enterprises sector with SIDBI India MSE Awards

Saraswat Co-operative Bank launches 'Saraswat Bank 100+ Smart Savings Account App'

Afghanistan Trade Event Drives Over $55 million in New Business

ICAI and ICAEW renew qualification reciprocity agreement

Implementation of Uniform Banking Hours in all Public Sector Banks (PSBs) on PAN India

No more 'Single Use Plastic', says Usha International

Chennai Machine Tool Expo 2019 Brings Technologies to the Doorsteps of Tamil Nadu

Affordable homes account for over 48% unsold units in MMR: PropTiger report

PaisaWapas announces special cashback for Amazon and Flipkart festive sale

Mitsubishi Electric India pledges for a greener tomorrow in Nagpur

Cognizant Named an AI Consultancy Leader by Independent Research Firm

Tata AIA Life Insurance goes from protecting people's future to protecting the environment too

New Cognizant AI Insurance Claims Platform Enhances Processing, Accuracy and Customer Service Following Natural Disasters

Chennai Machine Tool Expo 2019 to Set the Ball Rolling for Manufacturing Excellence

Truecaller appoints Hitesh Raj Bhagat as Director of Corporate Communications India

Universal Sompo General Insurance Company Ltd launches USGI ALLy mobile application

Cinépolis lets you #XperienceTheFuture with its latest campaign

Logitech partners with LXG to strengthen the esports ecosystem in India

PAYBACK joins hands with Cricketer, Yuvraj Singh to launch its new campaign 'PAYBACK Chalao'

Indian tourism evolving as a catalyst of growth and employment generation

House of Hiranandani celebrates the Heroes of Hiranandani this Engineer's day

Flora Haixia Zhao joins Sterlite Power as an Independent Director

OPPO's 20x Zoom powerhouse, Reno2, to go on sale across India

World's Biggest Food Exhibition - SIAL Kicks off Today in Delhi

JSW Cement launches Durga Puja campaigns with a social focus

Globus Infocom Launches Indoor LED Display Wall at InfoComm India 2019 Expo

Cash Suvidha plans to raise $5-10mn equity funds

EaseMyTrip Brings 'Welcome Festive Sale' Campaign

Logitech Announces Launch of Logitech® Pebble Wireless Mouse M350

JRK Group launches Mobile Application for easy investment in shares and mutual funds

'Cordless Matlab Bosch' - Introducing Experiential Mobile Vans to Unveil the Power of Cordless

Duroflex introduces India's only certified orthopaedic mattress range







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019