Surpassing 1 Cr Policies Symbo's Journey Crafting Brand-Centric InsurTech Offerings

Surpassing 1 Cr Policies: Symbo’s Journey Crafting Brand-Centric InsurTech Offerings

6 min read |

Propelled by consistent 200% annual growth since 2021, Symbo Advances Toward Its Vision of ‘De-Risking the World’. 

Symbo has been scaling its embedded insurance technology and building a dedicated team since 2020, with a laser focus on leveraging its capabilities to seamlessly integrate insurance into everyday products and services. Our goal has been to offer a convenient and affordable insurance experience to a vast majority of Indians.

The journey to this remarkable milestone of achieving 1 Cr policies sold within just 2.5 years has been an extremely satisfying moment for all of us. Symbo strategically forged partnerships with leaders in e-commerce, logistics, fintech, travel, & health sectors. These collaborations have been pivotal in driving our goal to integrate insurance into the fabric of our daily lives.

Our commitment to building robust API-driven ecosystems for every domain, and effectively connecting them with insurers’ legacy systems, has been a driving force in achieving this remarkable milestone. The incorporation of AI and ML technologies has further enhanced the efficiency and efficacy of our offerings.

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However, this journey wasn’t without its challenges. Right from experimenting with customer communication to building a platform that can handle the scale at which we operate, we have learned a lot along the way. We go deep in our partners’s customer psyche and buying journey to provide a tailored and holistic experience to every policyholder.

With increased digital adoption following the pandemic, more than 30 percent of insurance transactions will occur via embedded channels. My team at Symbo is determined to fast track this process in India, realizing this vision sooner than anticipated."

In a country with a staggering 80 crore active internet users and an even larger segment of retail shoppers, embedded insurance has found its firm footing. We at Symbo firmly believe that this is just the beginning. As the digital landscape continues to evolve, our commitment to innovation and customer-centricity remains unwavering.

As the journey continues, our team is poised to achieve even greater milestones in the coming quarters. We want to lead the way to a future where insurance is more than just a product; it’s a seamless experience that empowers and protects. Stay tuned as we continue this transformative journey, driven by innovation and a passion to create a more secure world for all.

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Delivering over 1M policies annually for world’s leading brands
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