Insurance made easy | Learn how this company makes taking insurance a very easy going process for its clients

• ByStartupStory     |    February 28, 2023

Shrehith Karkera in an exclusive interview with Startup Story talks about how with the assistance of Ditto the insurance company, clients get the best advice on insurance, understanding policy, get answers to the burning questions, and buy insurance, all at the same place.

Hustle and Bustle 

Shrehith hails from Bangalore and has engineering background. His drive to do something different made him opt out from college placements. After having a cooling period of 6 months he decided to sit for the CAT exam which made him land in IIM Ahmedabad. 

After doing his masters, Shrehith decided to ‘wet his feet’ by indulging in various job profiles. He spent almost a year in stock marketing to understand the whole procedure and mechanism behind shares, equity market and other financial securities. 

After getting a taste of it, Shreehith decided to switch and started a blog on daily financial news in the name of Finshots. 

Finshots was a newsletter specially curated for newbies to understand finance, stock market in simplest terms. This venture took off and the newsletter was able to engage 60-70K subscribers in the first few months itself.

In 2021, Shrehith came up with the idea of Ditto, an Insurance company with the aim to provide genuine insurance policies to the customers.

Mission and Vision

Shrehith says that Ditto does basically everything under the sun from choosing the best policy for customer’s needs, helping buying that policy and lastly helping in claims if anybody ever has to use the policy. 

Ditto Insurance includes Health Insurance which covers all health related expenses. Ditto helps in picking the most comprehensive plan that suits the interests of the client. Shrehith says that Ditto gives the opportunity to clients to use their platform to understand, compare and then finalise a policy that best suits their needs.

Other services include Term Life Insurance that protect your loved ones by insuring your life with a term plan, added Shrehith.

Ditto vouches on the benefits and ease that they provide to their customers. Clients get access to the best insurance advisors in town, at least 30 minutes consultation because good advice takes time and most importantly promises to be spam free. The perk that customers enjoy is that the consultations are free and Ditto doesn’t harass people to buy insurance from their platform, added Shrehith.

Harnessing the wind

Shrehith says that this sector is extremely competitive and 90% of the market is dominated by companies like Policy Bazaar, Insurance Dekho, Car Dekho etc. But with continuous efforts and customer centric approach, Ditto vouches to be close second to Policy Bazaar. 

Shrehith says that their platform and services are unique from the market as they do not believe in pushy salesmanship who employ pressure tactics to close a deal and this serves as their USB.

Ditto doesn’t give any sales target to its salesman, the target of the company is to get genuine traffic on site and give meaningful and extensive knowledge to clients. We are a ‘customer obsessed company’,customer feedback helped us to improve and better our sales, Shrehith added. 

Shrehith said that in fact Ditto’s 30% sale is through reference. He proudly said that Finshot enjoys 4.9 ratings on Playstore and overwhelmingly positive response from its customers on other platforms as well. 

Upcoming Plans

Shrehith wants to remain in business and explore its different facets. He is optimistic that in coming years Ditto will improve its market share and will become one of the leading players in health insurance.

Ditto will continue to navigate through hundreds of policies to give its customers exactly what they are looking for in a policy, he added.

Shrehith concluded by sharing some wisdom especially for youth and those who are in their early years of setting up startups to be cautious and mindful in spending money. Investors will come, but a startup should be self- sustainable so that it can naturally float in the market. Most important quality is to be self assured and conscious when making decisions. Building a business requires inspiration and creativity which will lead to a better product and excellent results. And lastly, success is often very challenging and it requires a lot of patience for sustenance so keep trying till you make it.

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