Freo, a leading digital finance platform, has successfully secured a Corporate Agent license from the Insurance Regulatory and Development Authority of India (IRDAI). This new license empowers Freo to offer its registered users an extensive selection of curated insurance products in partnership with well-known insurers. With this addition, Freo solidifies its position as a comprehensive provider of various digital financial services, encompassing loans, savings, and now insurance.
In an effort to bridge the insurance penetration gap in India, Freo is committed to delivering affordable and easy-to-understand insurance solutions. The company aligns itself with the government’s goal of achieving ‘Insurance For All by 2047’ amidst a projected 7% growth in the insurance sector. Freo’s mission focuses on making insurance accessible to the underinsured segments of the population.
The company’s diverse insurance portfolio features specialized offerings, including women’s health plans, top-up options for existing policies, and coverage against cyber fraud and job loss. These plans are thoughtfully designed to tackle prevalent risks such as malaria and dengue while providing extensive financial protection without straining customers’ budgets. Kunal Varma, Freo’s co-founder and Chief Executive Officer (CEO), reiterated the company’s vision to simplify insurance, making it reliable and widely accessible through its integrated digital platform.