Turtlemint says regulatory changes and lower commissions could boost insurance volumes

Mumbai-based Nexus Venture Partners-backed insurtech startup Turtlemint has built a network-led insurance distribution model focused largely on smaller towns, with around three-fourths of its business coming from beyond metros. Dhirendra Mahyavanshi, Chairperson, Managing Director and Chief Executive Officer of the company believes regulatory changes aimed at improving affordability and insurance penetration will expand the market and support growth. Management also highlighted operating leverage benefits and sees opportunities to sell loans and mutual funds through its existing advisor network as it diversifies beyond insurance.