Back in 2008, insurance customers in India were facing a tough time. There was a lack of information on products, transparency was missing, mis-spelling was rampant, there was a high lapse rate of insurance policies and consumers felt a general apathy towards the insurance industry. Insurance companies made profits from policy surrender charges and the entire industry was mired in murkiness. That is when a small bunch of people, with no insurance experience, started re-imagining what the insurance space could be. They imagined a place where consumers could find completely…
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