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Mumbai, February 24, 2022: India’s leading Insurtech platform, Turtlefin announced the acquisition of Last Decimal, an insurtech SaaS company to strengthen its leadership position in the market. This transaction accelerates Turtlefin’s growth trajectory by expanding its bancassurance business and market share with the addition of Last Decimal’s existing customers.
Turtlefin provides end-to-end tech solutions to enable insurance sales and services and digitize via comprehensive technology support for large enterprises like banks, insurers, e-commerce players and other distributors. Turtlefin’s SaaS technology solutions are in line to provide exemplary customer experience with access to the latest features, functions and platforms designed specifically for content sharing, learning and development and lead management.
Various banks and insurers in India use Last Decimal’s API-driven platform BancaEdge® for offering insurance to their disparate customer segments. Turtlefin is committed to leveraging its insurtech capabilities and ensuring a seamless customer experience.
According to Turtlefin’s Co-Founder, Dhirendra Mahyavanshi, “Turtlefin is a leading platform that enables digital insurance distribution. We have created solutions along various points of the insurance value chain, including advisory, quotes, claims and product creation. This acquisition will further strengthen our bancassurance technology offering by making us the clear leader with 16 top banks in Asia present in our clientele and will unlock exponential growth opportunities for us. Mr. A.S. Narayanan has an extensive experience in the sector, and we are excited to welcome him and his entire team to Turtlefin.”
Mr A.S. Narayanan, CEO of Last Decimal, said, “As an insurtech player, Turtlefin and Last Decimal have a shared vision of growth for our customers and insurtech segment. We will generate strong synergies and accelerate innovation through this collaboration, which will enable us to empower the insurtech growth story in India.”
About Turtlefin
Turtlefin is the enterprise suite of products of India’s leading insurtech platform – Turtlemint. Turtlemint aims to bridge the gap in the current traditional insurance landscape with Turtlefin’s comprehensive technology. It is one of the pioneer technology platforms enabling insurance distribution for enterprise customers. Being an innovation-first company, Turtlefin creates unique and customized technology solutions that can add tangible value to institutional customers and enable their sales teams to provide insurance as a solution in an informed and seamless manner. Turtlefin empowers financial advisors, both individuals and large financial/ non-financial sector organizations, by offering them a comprehensive technology platform for the end-to-end insurance servicing needs of their customers. Further, it enables e-commerce websites to seamlessly embed insurance as a product offering on their website. It uses plug-and-play API’s to integrate the solutions so that no additional technology infrastructure needs to be created by its customers. Turtlefin is currently working with leading banks, insurers, brokers and commerce players in India and the Middle East.Founded in 2015 by Dhirendra Mahayavanshi and Anand Prabhudesai, Turtlemint has created a wide network of 250,000+ digital partners and empowered them with the right set of digital tools that enables them to provide insurance policies to their customers. Turtlemint has raised close to USD 190 million from marquee investors Jungle Ventures, Nexus Venture Partners, Amansa Capital, Sequoia Capital India, GGV Capital, Vitruvian Partners, Marshall Wace American Family Ventures, MassMutual Ventures, SIG, and Blume Ventures, Dream Incubator and Trifecta Capital & adding.
About Last Decimal
Last Decimal is a SaaS Insurtech company building a core Technology Platform for connecting key players in the Insurance ecosystem to maximize penetration and revenue for each player in the value chain. Last Decimal’s sophisticated APIs and cloud-based technology allows insurers to present insurance offers instantly and uninterruptedly to customers, giving them a new avenue of distribution and an opportunity to grow their insurance volumes without investing in complex technology, or ecosystems.
