Guwahati: Leading InsurTech RenewBuy seeks to scale up its operations in North-East, a strategic expansion aligned with the region’s growing insurance market. The company aims to double down its insurance advisor network from nearly 4,000 to approximately 8,000 in the coming months, says a press release.
The company, which has witnessed substantial growth since entering North-East in 2018, has been able to strengthen its presence in over 80% of the districts, coupled with its operational office in Guwahati, which provides a strong connect with the region.
Guwahati will continue to serve as RenewBuy’s operational hub in the region. Plans are underway to establish a call centre in the region, further demonstrating RenewBuy’s commitment to generating more job creation and contributing to North-East’s economic growth.
“We are committed to providing accessible and affordable insurance solutions to the people of North-East. Our low-cost Health Insurance and Smart Term plans have seen widespread adoption, demonstrating the increasing demand for simplified and cost-effective insurance products,” said, Balachander Sekhar, CEO, RenewBuy.
“We are also deeply committed to creating employment opportunities in the region. With a branch office in Guwahati and a strong network of nearly 4,000 insurance advisors across North-East, we aim to double this number in the coming months, ensuring wider access to the right insurance solutions and contributing to a more secure and prosperous future for the people of the region. Through our insurance distribution and proprietary products, we aspire to build a robust safety net for our people in the North-Eastern region,” he further added.
North-East has witnessed a rapid increase in health insurance adoption, with approximately 65% of families having at least one member covered in states like Assam.
This trend, coupled with the rising number of digitally savvy consumers and widespread smartphone adoption, has fuelled significant growth in digital insurance adoption in Tier-2 and Tier-3 cities, with growth rates of around 35% and 45%, respectively.
These dynamics have created a highly favourable environment for RenewBuy’s growth trajectory in the region.
