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Ditto Insurance

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Company Research Report: Ditto Insurance






Company Overview



Name: Ditto Insurance

Mission of the Company: With Ditto, you get the best advice on insurance. Understand your policy, get answers to your burning questions, and buy insurance, all in the same place.

Founded and Founders: Founded in 2018 by Shrehith Karkera, Bhanu Harish Gurram, Pawan Kumar Rai, and Lokesh Gurram.

Key People in the Company:
  • Shrehith Karkera: Co-founder

  • Bhanu Harish Gurram: Co-founder

  • Pawan Kumar Rai: Co-founder

  • Lokesh Gurram: Co-founder

  • Deepa Nair: AVP - HR

  • Shashwat Nandan: Head of Partnerships


Headquarters: Bangalore, Karnataka, India

Number of Employees: Approximately 501-1,000 employees

Revenue: No information is available

What is the Company Known For: Ditto is known for simplifying insurance. Unlike traditional platforms, Ditto focuses on helping customers understand their policies thoroughly, compare and select the best options, and provides exceptional claim support and customer service.




Products



Health Insurance


  • Description: Comprehensive health plans tailored to cover all health-related expenses, facilitated through an efficient and user-friendly platform for understanding, comparing, and finalizing policies.

  • Key Features:

  • Cover for pre and post-hospitalization expenses

  • Daycare treatment coverage

  • Health checkups and AYUSH treatments

  • Extensive network hospitals


Term Life Insurance


  • Description: Provides financial protection for loved ones in the event of the policyholder’s death, helping secure the family’s future with substantial payouts.

  • Key Features:

  • High sum assured at affordable premiums

  • Various riders like critical illness, accidental death, and waiver of premium

  • Option to increase cover with inflation

  • Whole life and increasing cover options





Recent Developments



New Products Launched


  • Care Supreme: Offering comprehensive health cover with industry-first features like unlimited automatic restoration and no bonus clawbacks.

  • Reassure 2.0: An upgrade to the popular Reassure plan by Niva Bupa, providing options like Forever Restoration and Age Lock Benefit.


New Features Added to Existing Products


  • Optima Secure: Introduced features like Secure Benefit for instant doubling of cover, Protect Benefit covering non-medical expenses, and Plus Benefit ensuring a substantial bonus cover yearly.

  • Care Supreme: Features like affordability, reasonable waiting periods, extensive network hospitals, and customer-friendly claim settlement.


New Partnerships


  • Zerodha Investment: Ditto raised ₹4 crore in initial funding from Zerodha to support its goal of simplifying the insurance-buying process for consumers, leveraging Zerodha's financial literacy ethos.





Conclusion



Ditto Insurance stands out in the market due to its strong focus on customer education, seamless claim support, and innovative health and term life insurance products. Their dedication to transparency, tailored advice, and robust product offerings have made them a formidable player in the insurance industry.