Turtlemint's Festive Boom: 200% Surge in Motor Insurance Sales

Turtlemint, a leading InsurTech platform, has reported a nearly 200% increase in motor insurance policy sales during the festive season of FY'25, driven by a rise in vehicle sales and strong demand from Tier 2 and 3 cities. The platform capitalized on this with a strategic advisor network expansion.

Turtlemint, based in Mumbai, has demonstrated explosive growth in its motor insurance sector during the festive season of FY'25, recording nearly a 200% increase in sales compared to the same period last year. The InsurTech leader issued over 4 lakh motor insurance policies, capitalizing on a strategic expansion of its advisor network.

Data from FY25 shows a 2.3 times increase in total motor insurance premiums from the previous year, largely fueled by Tier 2 and 3 cities, which contributed more than 90% to the policies sold. The festive season, marked by record vehicle sales, saw a concomitant rise in motor insurance purchases.

Co-founder and CEO Dhirendra Mahyavanshi remarked on Turtlemint's remarkable year-on-year growth of 85% in motor insurance sales, emphasizing the significant role of semi-urban and rural markets. The company is leveraging its digital-first approach and extensive insurer network to meet rising demand and support advisors nationwide.

(With inputs from agencies.)