{"id":1242885,"date":"2023-02-16T09:58:24","date_gmt":"2023-02-16T04:28:24","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1242885"},"modified":"2023-02-18T08:22:35","modified_gmt":"2023-02-18T02:52:35","slug":"find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/","title":{"rendered":"Find Out How This Insurtech Platform Is Disrupting The Market With Embedded Insurance"},"content":{"rendered":"\n

Insurance is a growing yet under-penetrated sector in India. This demonstrates a large chunk of the low\/middle-income population is underserved by legacy insurers and distributors. Given this context, Bimaplan<\/a> \u2013 a leading insurtech platform is redefining the distribution of insurance products through embedded insurance and deepening insurance penetration in the country. <\/p>\n\n\n\n

\"Find<\/figure>\n\n\n\n

The full-stack embedded insurance platform Bimaplan, founded by Vikul Goyal, enables businesses to seamlessly distribute relevant insurance products to their customers across various segments such as financial services, travel tech, e-commerce, agri tech, gig economy and many more.<\/p>\n\n\n\n

Understanding nuances<\/strong><\/p>\n\n\n\n

The insurance segment is constantly innovating to serve the changing customer needs and to help them recover from unforeseen circumstances, such as accidental deaths, sudden hospitalizations, or mishaps or calamities during travel. Distribution gaps deprive the underserved population of insurance. Despite having the ability to pay nominal premiums, 30% of the population remains uninsured due to a lack of affordable and relevant insurance plans.<\/p>\n\n\n\n

\u201cAround 63% of India\u2019s current health spending accounts for out-of-pocket expenditure. This increases the exposure to financial risks and due to high healthcare expenses, almost 7% of the population every year is pushed into poverty. We have to digitize the distribution model to make insurance accessible at low cost to address the outlined challenges.\u201d says Vikul Goyal, Founder & CEO,  Bimaplan.<\/p>\n\n\n\n

Bimaplan enables the distribution of insurance products customized as per the customers\u2019 needs. It focuses on providing effective policies at a low premium with its end-to-end digital process that can prove to be a game-changer in improving insurance penetration in the country. The insurtech platform empowers the digitization of insurance distribution by integrating relevant plans in the partner\u2019s customer journey via API integration. <\/p>\n\n\n\n

Previewing the Industry he adds<\/strong> \u201cSimplifying the decision-making process in the customer\u2019s journey through embedding and offering insurance at the right point will increase the relevancy of insurance products. The multichannel & multi-faced approach is going to enhance the customer experience, especially during the claim process phase. This transparency and quick communication will secure the customer trust & elevate Insurtech Industry soon with new approaches & developments.\u201d<\/p>\n\n\n\n

The traction<\/strong><\/p>\n\n\n\n

In one year of operations, Bimaplan has provided insurance to over 500k customers and onboarded 55+ partners. With a month-on-month growth rate of 20%, the insurtech startup projects to reach over 10 million users by the end of FY 2025. <\/p>\n","protected":false},"excerpt":{"rendered":"

Insurance is a growing yet under-penetrated sector in India. This demonstrates a large chunk of the low\/middle-income population is underserved by legacy insurers and distributors. Given this context, Bimaplan \u2013 a leading insurtech platform is redefining the distribution of insurance products through embedded insurance and deepening insurance penetration in the country.  The full-stack embedded insurance […]<\/p>\n","protected":false},"author":31,"featured_media":1242978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[426],"tags":[860,861,753],"class_list":["post-1242885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insurance","tag-bimaplan","tag-embedded-insurance","tag-insurance"],"acf":[],"yoast_head":"\nFind Out How This Insurtech Platform Is Disrupting The Market With Embedded Insurance - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Find Out How This Insurtech Platform Is Disrupting The Market With Embedded Insurance - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"Insurance is a growing yet under-penetrated sector in India. This demonstrates a large chunk of the low\/middle-income population is underserved by legacy insurers and distributors. Given this context, Bimaplan \u2013 a leading insurtech platform is redefining the distribution of insurance products through embedded insurance and deepening insurance penetration in the country.  The full-stack embedded insurance […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/\" \/>\n<meta property=\"og:site_name\" content=\"Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-16T04:28:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-18T02:52:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/02\/PR-BANNER-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"465\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Guest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Guest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/\",\"url\":\"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/\",\"name\":\"Find Out How This Insurtech Platform Is Disrupting The Market With Embedded Insurance - Trak.in - Indian Business of Tech, Mobile & Startups\",\"isPartOf\":{\"@id\":\"https:\/\/trak.in\/stories\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/02\/PR-BANNER-2.jpg\",\"datePublished\":\"2023-02-16T04:28:24+00:00\",\"dateModified\":\"2023-02-18T02:52:35+00:00\",\"author\":{\"@id\":\"https:\/\/trak.in\/stories\/#\/schema\/person\/a9eb1409345a7aff91672d4b702d86c8\"},\"breadcrumb\":{\"@id\":\"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/#primaryimage\",\"url\":\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/02\/PR-BANNER-2.jpg\",\"contentUrl\":\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/02\/PR-BANNER-2.jpg\",\"width\":1000,\"height\":465},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/trak.in\/stories\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Find Out How This Insurtech Platform Is Disrupting The Market With Embedded Insurance\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/trak.in\/stories\/#website\",\"url\":\"https:\/\/trak.in\/stories\/\",\"name\":\"Trak.in - Indian Business of Tech, Mobile & Startups\",\"description\":\"Trak.in is a popular Indian Business, Technology, Mobile & Startup blog featuring trending News, views and analytical take on Technology, Business, Finance, Telecom, Mobile, startups & Social Media Space\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/trak.in\/stories\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/trak.in\/stories\/#\/schema\/person\/a9eb1409345a7aff91672d4b702d86c8\",\"name\":\"Guest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/trak.in\/stories\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/4d07efb2a21e16b44baeb3d9bf9e67c82353aec7832dafabd5b0d96fd6e9a728?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/4d07efb2a21e16b44baeb3d9bf9e67c82353aec7832dafabd5b0d96fd6e9a728?s=96&d=mm&r=g\",\"caption\":\"Guest\"},\"sameAs\":[\"http:\/\/trak.in\"],\"url\":\"https:\/\/trak.in\/stories\/author\/guest\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Find Out How This Insurtech Platform Is Disrupting The Market With Embedded Insurance - Trak.in - Indian Business of Tech, Mobile & Startups","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/","og_locale":"en_US","og_type":"article","og_title":"Find Out How This Insurtech Platform Is Disrupting The Market With Embedded Insurance - Trak.in - Indian Business of Tech, Mobile & Startups","og_description":"Insurance is a growing yet under-penetrated sector in India. This demonstrates a large chunk of the low\/middle-income population is underserved by legacy insurers and distributors. Given this context, Bimaplan \u2013 a leading insurtech platform is redefining the distribution of insurance products through embedded insurance and deepening insurance penetration in the country.  The full-stack embedded insurance […]","og_url":"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/","og_site_name":"Trak.in - Indian Business of Tech, Mobile & Startups","article_published_time":"2023-02-16T04:28:24+00:00","article_modified_time":"2023-02-18T02:52:35+00:00","og_image":[{"width":1000,"height":465,"url":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/02\/PR-BANNER-2.jpg","type":"image\/jpeg"}],"author":"Guest","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Guest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/","url":"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/","name":"Find Out How This Insurtech Platform Is Disrupting The Market With Embedded Insurance - Trak.in - Indian Business of Tech, Mobile & Startups","isPartOf":{"@id":"https:\/\/trak.in\/stories\/#website"},"primaryImageOfPage":{"@id":"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/#primaryimage"},"image":{"@id":"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/#primaryimage"},"thumbnailUrl":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/02\/PR-BANNER-2.jpg","datePublished":"2023-02-16T04:28:24+00:00","dateModified":"2023-02-18T02:52:35+00:00","author":{"@id":"https:\/\/trak.in\/stories\/#\/schema\/person\/a9eb1409345a7aff91672d4b702d86c8"},"breadcrumb":{"@id":"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/#primaryimage","url":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/02\/PR-BANNER-2.jpg","contentUrl":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/02\/PR-BANNER-2.jpg","width":1000,"height":465},{"@type":"BreadcrumbList","@id":"https:\/\/trak.in\/stories\/find-out-how-this-insurtech-platform-is-disrupting-the-market-with-embedded-insurance\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/trak.in\/stories\/"},{"@type":"ListItem","position":2,"name":"Find Out How This Insurtech Platform Is Disrupting The Market With Embedded Insurance"}]},{"@type":"WebSite","@id":"https:\/\/trak.in\/stories\/#website","url":"https:\/\/trak.in\/stories\/","name":"Trak.in - Indian Business of Tech, Mobile & Startups","description":"Trak.in is a popular Indian Business, Technology, Mobile & Startup blog featuring trending News, views and analytical take on Technology, Business, Finance, Telecom, Mobile, startups & Social Media Space","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/trak.in\/stories\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/trak.in\/stories\/#\/schema\/person\/a9eb1409345a7aff91672d4b702d86c8","name":"Guest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/trak.in\/stories\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/4d07efb2a21e16b44baeb3d9bf9e67c82353aec7832dafabd5b0d96fd6e9a728?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/4d07efb2a21e16b44baeb3d9bf9e67c82353aec7832dafabd5b0d96fd6e9a728?s=96&d=mm&r=g","caption":"Guest"},"sameAs":["http:\/\/trak.in"],"url":"https:\/\/trak.in\/stories\/author\/guest\/"}]}},"jetpack_featured_media_url":"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/02\/PR-BANNER-2.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/posts\/1242885","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/comments?post=1242885"}],"version-history":[{"count":2,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/posts\/1242885\/revisions"}],"predecessor-version":[{"id":1242980,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/posts\/1242885\/revisions\/1242980"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/media\/1242978"}],"wp:attachment":[{"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/media?parent=1242885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/categories?post=1242885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trak.in\/stories\/wp-json\/wp\/v2\/tags?post=1242885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}