FAQ
Answers to Your Questions
Welcome to our FAQ section to serve both current and prospective clients. You should find all the answers to your questions here, but let us know if that’s not the case and we’ll happily help out.
WHAT IS DETAIL ABOUT ASSAN ONE?
Assan One Insurance Broker Private Limited, a startup company in insurance category has come up with an innovative idea of “Assan” to make ‘insurance available for all’ by making it ‘easy’ through its digital platform, especially focused on BHARAT. The product is specifically developed to create employment opportunities in semi urban and rural areas through a new type of distributor, called the point of sale (PoS) person. The idea is to skill those individuals who have lower qualification but great aspirations and train them well about the insurance category that helps them earn extra income as per IRDAI guidelines.
To increase insurance penetration in the country, the industry needs more distributors to travel the last mile. To achieve that goal, what’s needed is a simple selling process for these distributors. Therefore, the intervention required for such products is minimal and the training and exams for such persons could be of a lesser degree than those for a full-fledged distributor.
Our philosophy is to make products we would like to buy for ourselves and our families. We are competitive in terms of our costing, it is not sold as an add-on, it is just an inclusion. We are expanding the number of locations where we are doing business. We will also work on more technology solutions to change the current buying and claim experience.
We strive to step up from part to full time engagement and income generation programmer for 2,00,000 + such individuals within shorter span of time during next 2-3 years. The distribution network is largely planned to benefit the majorly semi-employed young individuals of BHARAT which would help empower the untapped youth potential in those areas and offer them equal opportunity platform as compared to professionals residing in Metro cities of the India.
What is the problem the Assan One is solving?
India is at a cusp right now. While there is a digital explosion, processes could be made simpler if we had access to essential customer databases of RTOs (regional transport offices) or FIRs (first information reports) etc. The challenge is in our ability to simplify and find new ways of designing customer journeys.
We are partnering with the right avenues to get this data to develop tech solutions to fill in the gaps and remove system redundancies. To increase insurance penetration in the country, the industry needs more distributors to travel the last mile. To achieve that goal, what’s needed is a simple selling process for these distributors.
Today, one-third of India’s population is made up of urban millennials aged between 21 to 35 years. This huge market faces very specific risks on a daily basis that are not being covered by the insurance industry, which continues to focus on one-size-fits-all health, life and motor insurances.
Even with insurance aggregators, customers seldom complete their purchase entirely online. A telephone call or a visit from an agent is often needed to clarify, fill forms, and understand the inclusions and exclusions of each plan as well as to wrap one’s head around obscure terminology. Start-ups need to improve the design of purchase processes by deconstructing over-complicated products into easy to grasp, bite-sized coverage plans that use simple language with examples set in the user’s day-to-day life.
What is the uniqueness of solution by Assan One?
We at Assan One believe that everyone deserves to have a plan in place, to protect what they love and that they shouldn’t have to break their backs for it. A comprehensive platform, with simple policies for easy application; is the key to avoiding complications and staying stress free. And when you operate on an interface built just for you, assured that you are insured — Assan one, you are taken care of.
The company believes that 'Simplicity' has been their biggest differentiator in achieving this Growth and Customer Satisfaction. They are bringing simplicity to a complex industry by using technology, especially when it comes to processes.
For instance, the company has launched a Smartphone-enabled Self-Inspection process that cuts down the inspection time for car claims from 7 days to 7 minutes. Even for product innovations, we've launched innovative products like Mobile Screen Damage Insurance which has relevance for Indian Millennials who are always on the move.
We will scale up whatever we offer, thereby making the journey comfortable and fulfilling for the customer. Our efforts will always be directed towards incorporating and scaling new technology, and solving new problems. We have been working with most insurance companies in the ecosystem and have associated ourselves with a partner who knows technology well and places the user right at the centre of the system.