Insuretech startup Ensuredit and Simson Software Joint Ventures to Launch Enfin targeting 800 crores of Business
In a significant stride towards enhancing insurance accessibility and affordability, industry leaders Ensuredit and Simson Software have joined forces to introduce Enfin, a groundbreaking joint venture poised to reshape the insurance landscape. This partnership marks a bold move aimed at addressing long-standing industry challenges and ushering in a new era of innovation.
Ensuredit, renowned for its leadership in Insurance PaaS and infrastructure services in India, and Simson Software, a pioneer in insurtech products across India and multiple global markets, have combined their expertise to create Enfin. The primary objective of this venture is to eliminate barriers preventing individuals from accessing insurance and to streamline payment processes, effectively increasing insurance participation. The joint venture holds a 51/49 ownership structure, with Ensuredit holding 51% and Simson holding 49%.
The JV’s ambitious goal is to achieve INR 800 crores in business over the next 18-24 months. Both companies are committed to investing in building a robust team of over 100 professionals during this timeframe.
With a vast network comprising over 1000 insurance intermediaries, Enfin is uniquely positioned to revolutionize the dynamics of the insurance sector, creating a more inclusive and seamless experience for both consumers and providers.
Amit Boni, CEO of Ensuredit, shared his insights, stating, “Enfin is a testament to our commitment to drive positive change in the insurance landscape. By synergizing Ensuredit’s foundational services with Simson Software’s technological prowess, we are establishing an ecosystem that seeks to redefine affordability and accessibility for insurance participants, starting from India and extending globally.”
Davendra Singh, CEO of Simson Software, added, “Enfin is the result of a shared vision to bring about transformative advancements in the insurance sector. Through this partnership, we are leveraging technology and innovation to break down barriers and offer a more equitable insurance landscape for all.”
Enfin’s strategy involves substantial investments from both Ensuredit and Simson Software, encompassing cutting-edge technology, strategic go-to-market efforts, and seamless product integrations. The joint venture aims to set a precedent for creating inclusive insurance ecosystems, beginning in India and later expanding its influence worldwide.
Enfin is poised not only to reshape the way insurance is accessed but also to foster an environment of innovation, collaboration, and customer-centricity within the industry.
About Ensuredit
Ensuredit is a leader in Insurance PaaS and infrastructure services in India, dedicated to transforming the insurance landscape through innovation and technology.
