New Delhi: Freo, a digital finance platform, has acquired the Corporate Agent license from the Insurance Regulatory and Development Authority of India (IRDAI). This allows Freo to provide its registered users with a wide array of curated insurance products in collaboration with prominent insurers. The license expands Freo’s offerings, making it a one-stop solution for a range of digital financial services, from loans and savings to insurance.
Freo aims to address the gap of insurance penetration in India with affordable and easy-to-understand insurance products. Aligning with the government’s vision of ‘Insurance For All by 2047’ and a projected 7% growth in the sector, Freo plans to make insurance accessible to the underinsured population.
The company’s insurance portfolio includes specialized plans such as women’s health coverage, top-up options for existing policies, and protection against cyber fraud and job loss. These plans are designed to address real-world risks like malaria and dengue while offering comprehensive financial protection without adding strain to the customers’ finances. Freo’s co-founder and Chief Executive Officer (CEO), Kunal Varma, emphasized the company’s mission to make insurance simple, trustworthy, and widely available through its integrated digital platform.
