Company Research Report: Insurance Samadhan

Company Overview

Company Name

Insurance Samadhan

Mission Statement

Insurance Samadhan aims to empower insurance policyholders in managing policies and resolving grievances. Their mission is to tackle issues like mis-selling, unjust claim rejections, delays, and short-settlement by leveraging cutting-edge technology to innovate and enhance customer satisfaction. The vision is to be the most trusted tech platform for enhancing faith in the insurance ecosystem.

Founding Details

Year Founded: 2018

Founders: Co-founded by Deepak Bhuvneshwari Uniyal, Shilpa Arora, Ravi Mathur, Sanjay Aggarwal, and Shailesh Kumar.

Key People

Deepak Bhuvneshwari Uniyal: Co-Founder & CEO

Shilpa Arora: Co-Founder & COO

Ravi Mathur: Co-Founder & CTO

Sanjay Aggarwal: Co-Founder & Legal Head

Shailesh Kumar: Co-Founder & Insurance Head

Headquarters

A-31, 2nd Floor, Infraline Tower, Sector 3, Noida - 201301, India

Number of Employees

The team has expanded to 100+ employees by 2024.

Revenue

No information is available.

Core Offering

Insurance Samadhan is known for its expertise in resolving insurance grievances, having successfully managed over 14,000 grievances in 30 months.

Products

Polifyx Mobile App

Description: Polifyx is an application designed to simplify the insurance journey by providing portfolio analysis, insurance claim filing, a secure digital vault for policy documents, and more.

Key Features:

Digital Vault to store insurance policies safely.

Portfolio analysis to understand existing insurance coverage.

A feature to identify errors in policy documents.

Services Offered

Life Insurance

General Insurance

Health Insurance

Term Insurance

Travel Insurance

Motor Insurance

Key Services

Claim Rejection Handling: Assists policyholders in cases of claim rejections.

Delay in Claim Processes: Accelerates delays in claim settlement.

Mis-selling Redressal: Protects customers who have been misled into purchasing wrong or inappropriate policies.

Short-settlement Resolution: Ensures that policyholders receive the correct amount as promised.

Recent Developments

New Product Launches

Polifyx Mobile App: Launched as a one-stop solution for managing insurance-related issues.

Partnerships

Collaboration with Ola Insure: Insurance Samadhan has partnered with Ola Insure to offer comprehensive insurance solutions through its mobile application. This collaboration aims to extend Insurance Samadhan's insurance grievance resolution expertise to Ola Insure’s customers.

Features and Innovations

"Know Your Policy" Feature: Introduced in 2023 to enhance policyholder awareness by helping them identify errors in their insurance documents.

Aiming for seamless user experience: Continually upgrading technological aspects to foster efficient insurance grievance redressal.

Conclusion

Insurance Samadhan stands out as a tech-driven platform focusing on enhancing customer experiences within the insurance sector. By continually expanding its products, services, and partnerships, the company strives to address and resolve common insurance grievances effectively.