GreenLife Insurance Broking PVT LTD

insurtechaggregators / policy management

FOUNDING YEAR: 2013
LOCATION: India
Last Update: 18/10/2019

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About

GIBL.IN is India's largest Web & Mobile App based Market Place that makes insurance procurement effortless. Customers come for convenience of use, saving time and finding the best deals by comparing. It offers a personalised service through own dashboard, policy history, claim status, knowledge portal, renewal reminder, SMS & FAQ.

Focus

PRODUCTS & SERVICES

Health Insurance Car Insurance Travel Insurance Home Insurance Personal Accident Insurance Group Health Insurance SME Insurance

REVENUE MODEL

We are going to make money from the commission of the insurance policies sold through our platform and distribution network. We make approx 15% to 20% in general. The major advantage recurring income. Once someone become a customer, usually they are repeating the insurance through us. So the over the year business generates a great sustainable business. Income will be coming from the sales of motor, health, travel, home, personal accident and all SME insurance products like fire, group health, marine etc. Each year an average customer would spend Rs 12000 in car insurance and Rs 18000 in health insurance. So we have a potential to sell 1 lac worth of policies to customer in the next 3 years.

PRIMARY PROBLEM SOLVED

It solves the age old insurance distribution and penetration problem in India. For Customers It Solves the following - Finding the best insurance cover is not easy & time consuming Cryptic jargons & complex terminology confuse people Independent advice not available from agents For Insurers It Solves the following - High customer acquisition costs No intermediary national distribution channel 49% FDI rule will bring more competitors – less margin

INTELLECTUAL PROPERTY

Patent(s) FILED

company provided insights

Traction

REVENUE

$500k - $999k

REVENUE COMMENT:

Each we are selling more than the previous month. According to our current monthly rate rate in the current financial year we would be able to do 1.2 million USD

NUMBER OF TRANSACTIONS:

350.00

TRANSACTIONS VALUE:

150.00

TRANSACTIONS COMMENT:

We have grown 4350% in last 12 months in terms of monthly revenue generation. Our current per month traffic is 75000 compare to only 5000 just 12 months ago. Each month we selling approximately 75 lacs worth of policies. We rank in top 5 in India for car insurance, health insurance, travel insurance, national insurance etc We have one of the highest customer conversion rate in the Industry. Number of customers, conversion rate, number of sales per month everything is increasing month on month.

ACTIVE USERS:

60000

ACTIVE USERS COMMENT:

"I was panicking when I realised travel agent didn’t provide the insurance for the trip just before the travel day . I found GIBL.IN was quite helpful and got sorted instantly over a phone call. Great Service. " Sumanta Paul, IT Professional, San Francisco I did my vehicle insurance through GIBL earlier, so when the insurance of vehicle fleet expired I contacted them. They did a great a service to renewing them immediately without much hassle. Chandan Sharma, Aum Express, New Delhi I have written this mail to thank you and your organisation GIBL for providing me the service which helped me in insuring my parents medical needs. Following are some points which I would like to mention:- 1. Thoroughly listened to all my queries and provided a prompt response. 2. Never showed any kind of impatience during any of the telephonic conversations. 3. Guided me in completing payment by staying back after office hours. 4. Provided good support during proposal application by collecting the documents. 5. After Sales support is also satisfactory as corrections in the policy with regard to some data Piyush Agarwal

People

FOUNDERS

Subir Mukherjee

BOARD MEMBERS AND ADVISORS

Bhaskar Ghosh

NUMBER OF EMPLOYEES

1-10

company provided insights

Momentum

FUNDED

NO

LISTED

NO

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GreenLife Insurance Broking PVT LTD

About

GIBL.IN is India's largest Web & Mobile App based Market Place that makes insurance procurement effortless. Customers come for convenience of use, saving time and finding the best deals by comparing. It offers a personalised service through own dashboard, policy history, claim status, knowledge portal, renewal reminder, SMS & FAQ.

Focus

PRODUCTS & SERVICES

Health Insurance Car Insurance Travel Insurance Home Insurance Personal Accident Insurance Group Health Insurance SME Insurance

REVENUE MODEL

We are going to make money from the commission of the insurance policies sold through our platform and distribution network. We make approx 15% to 20% in general. The major advantage recurring income. Once someone become a customer, usually they are repeating the insurance through us. So the over the year business generates a great sustainable business. Income will be coming from the sales of motor, health, travel, home, personal accident and all SME insurance products like fire, group health, marine etc. Each year an average customer would spend Rs 12000 in car insurance and Rs 18000 in health insurance. So we have a potential to sell 1 lac worth of policies to customer in the next 3 years.

TOP PROBLEM SOLVED

It solves the age old insurance distribution and penetration problem in India. For Customers It Solves the following - Finding the best insurance cover is not easy & time consuming Cryptic jargons & complex terminology confuse people Independent advice not available from agents For Insurers It Solves the following - High customer acquisition costs No intermediary national distribution channel 49% FDI rule will bring more competitors – less margin

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

PRODUCT DEVELOPMENT COMMENT

Hosted in India’s fastest server with Load Balancer for Disaster Recovery & Contingency Planning. Developed over 5000 man days with 256 SSL security encryption. Pen Tested against all attacks. Succeed with 5K+ concurrent users Real time quote Integration with all major insurance companies 75,000 monthly traffic, 60,000 Registered users in 24 months. Already in top 3 in India for online visibility, features & product offers Mobile Apps for Android, iOS and responsive web for all platforms GIBL : Largest Insurance Portal - 90,000+ pages with Q&A, Blog & Forum By boot strapping with seed money($ 0.2 M) GIBL has achieved more than the closest competitors with better fund availability We have created the most amazing user experience and spent lot of time to create the optimal click path. Please visit our heath insurance section to understand how smooth is the total procurement. Please check https://www.gibl.in/health-insurance/

KEY DIFFERENTIATORS

* Technology Driven Custom Policy design: We are creating new polices driven by wearable gadgets & GPS technology which will only be available in GIBL.IN. * Client Engagement & Value Added Services: Free road side assistance and 24 x 7 doctor phone line is provided to our customers. Unique offer from GIBL. * Industry Best Service: We can offer the best price and best claim service through our tie-ups. * Best Return of Investment By investing only $ 0.2M in last 3 years, we are reaching a persistent revenue of $0.125M per month already. * Ground Force: Using POS executive we are going to create an offline ground force to increase our distribution network. * Best Team with Proven Record : We have the most innovative and talented team who been together for the last 3 years to create this incredible business.

PRIMARY CUSTOMER TYPE

Consumer

STRATEGIC CLIENTS AND PARTNERSHIP

TATA-AIG : Insurance Company

Cigna TTK :

Traction

ANNUAL REVENUE:

$500k - $999k

REVENUE COMMENT:

Each we are selling more than the previous month. According to our current monthly rate rate in the current financial year we would be able to do 1.2 million USD

NUMBER OF TRANSACTIONS:

350.00

TRANSACTIONS VALUE:

150.00

TRANSACTIONS COMMENT:

We have grown 4350% in last 12 months in terms of monthly revenue generation. Our current per month traffic is 75000 compare to only 5000 just 12 months ago. Each month we selling approximately 75 lacs worth of policies. We rank in top 5 in India for car insurance, health insurance, travel insurance, national insurance etc We have one of the highest customer conversion rate in the Industry. Number of customers, conversion rate, number of sales per month everything is increasing month on month.

ACTIVE USERS/ACCOUNTS:

60000 Million

ACTIVE USERS COMMENT:

"I was panicking when I realised travel agent didn’t provide the insurance for the trip just before the travel day . I found GIBL.IN was quite helpful and got sorted instantly over a phone call. Great Service. " Sumanta Paul, IT Professional, San Francisco I did my vehicle insurance through GIBL earlier, so when the insurance of vehicle fleet expired I contacted them. They did a great a service to renewing them immediately without much hassle. Chandan Sharma, Aum Express, New Delhi I have written this mail to thank you and your organisation GIBL for providing me the service which helped me in insuring my parents medical needs. Following are some points which I would like to mention:- 1. Thoroughly listened to all my queries and provided a prompt response. 2. Never showed any kind of impatience during any of the telephonic conversations. 3. Guided me in completing payment by staying back after office hours. 4. Provided good support during proposal application by collecting the documents. 5. After Sales support is also satisfactory as corrections in the policy with regard to some data Piyush Agarwal

LIVE USERS/TRANSACTIONS:

Yes, in live production

CHANNEL STATUS

MULTIPLE CHANNELS

NUMBER OF CLIENTS OR PAYING CUSTOMERS

3500

People

NUMBER OF EMPLOYEES

11-50

TEAM COMMENT:

All the team members are almost founder member. They have a pride,what we are achieving,they want to dream we make it the best insurance market place in India.

Momentum

FUNDED

YES

FUNDING COMPLETED

NO

LISTED

YES

FUNDING SERIES
Seed
Feb 2014
USD200 K
at a USD5 Mvaluation
Comment on Seed
Subir is the Founder Investor and the main visionary of the company.

Comment on Valuation

Based on Market Information