Turtlemint focusses on international expansion, opens first office in UAE

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Dubai, United
Arab Emirates, May 25, 2022
– Turtlemint, a leading Indian insurtech company today announced
the launch of its first office in Dubai, UAE. As per Turtlemint’s growth
strategy, the expansion announcement is aligned with its recent Series E
funding of $120 million. 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 / digitize insurance sales & services via
comprehensive technology support for large enterprises like Banks and other
distributors.

The Dubai
office will serve as the central hub for Turtlemint’s business development in
the Middle East

region. The company aims to unlock
the market opportunity in a fast-developing MENA region.

Turtlefin
works with over 160000 financial advisors and 50+ financial institutions in
India and the Middle East. In 2020 the company pioneered the common API
framework. Since then, the Turtlefin platform has been a significant
breakthrough for the region and has gained further popularity post its
partnership with Mashreq in 2021. Currently, Turtlefin is planning to work with
multiple enterprises and users to help scale the insurance distribution
platform.

Mr Laxmikant
Pawar will be leading the new center. 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, “Turtlemint continues with its philosophy of
empowering financial advisors and distributors in India, we are going beyond
borders with our bouquet of tech solutions to large institutions and with this
expansion we are geared to address the rising demand witnessed in the Middle
East region, where banks are demonstrating an increased desire to provide
superior digital services. We recognized 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 digitized 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”