RenewBuy’s technology platform is offering several options and utmost convenience through the click of a button, said Balachander Sekhar, CEO and founder of RenewBuy while interacting with media persons in the city on Tuesday.
RenewBuy’s technology platform provides lowest quotes from leading seven insurance companies, instant policy issuance, 1-Click Renewal, Insurance Reminder Service and Digital documentation. The platform gives consumers a great experience by providing them lowest quotes, coupled with convenient, hassle-free and instant policy issuance.
RenewBuy, India’s leading technology enabled motor insurance platform that has insured more than 1,50,000 vehicles since its launch less than two years ago, is now all set to solve the acute problem of under-penetration of Motor Insurance in the state of Madhya Pradesh. Madhya Pradesh is a strategic market for RenewBuy and looking at our success in other states, we are confident that RenewBuy can address the under-penetration problem for motor insurance in MP.
Madhya Pradesh has over 80 lakh two-wheelers and 5 lakh cars with the market growing at 20% annually. As per studies, almost over 75% 2-wheelers and 25% 4-wheelers, or almost 60 lakh vehicles in the state do not have insurance, Sekhar added.