Insurtech platform Turtlemint opens office in the UAE

Turtlemint, an Indian insurtech company, has launched its first office in Dubai, UAE. The Dubai office will be the central hub for the company’s business development in the Middle East region.

Turtlemint’s expansion announcement is in line with the company’s recent $120m Series E fundraising. The expansion is undertaken to scale its digital insurance platform offering for enterprises – Turtlefin’s operations in the Middle East. Turtlefin provides end-to-end tech solutions to enable insurance sales & services / digitise through comprehensive technical support for large enterprises like banks and other distributors.

Read: Insurtech platform Turtlemint, raises $120m in Series E funding

Turtlefin works with over 160000 financial advisors and over 50 financial institutions in India and the Middle East. In 2020 the company pioneered the common API framework and it gained further popularity after its partnership with Mashreq in 2021. Currently, Turtlefin is planning to work with multiple enterprises and users to help scale the insurance distribution platform.

Laxmikant Pawar will be leading the new centre. Prior to this, he held positions at Mashreq Bank and Oman Insurance in the region. He will be working with Amreesh Kher, the chief partnerships distribution officer. The company is also looking to hire multiple candidates in FY23 across departments to bolster the operations in the region.

On this development, Dhirendra Mahyavanshi, co-founder, Turtlemint, stated, “We recognised a need for a technology partner in the current traditional banking landscape of the region, to facilitate a combination of legacy systems and new fintech capabilities in order to offer a seamless digital client experience. We aim to bridge this gap with Turtlefin’s comprehensive technology platform and support the BFSI community at large.

Anand Prabhudesai, co-founder Turtlemint, commented, “We see a massive opportunity in the Middle East market to assist banks & financial institutions in becoming digital-first by improving their value chain. With Turtlefin we have digitised and simplified the entire insurance distribution value chain benefiting all stakeholders” He further added, “The biggest testimony to our product has been our consistent growth numbers. In a short period of time, Turtlefin has received a grand welcome by the Middle East BFSI fraternity, as over 50+ banks and financial institutions are already benefiting from our solutions, along with 45+ Insurers on board across India & UAE”