Delhi,
India, 10-March 2025 : Square Insurance has launched Prime Connect,
a dedicated vertical aimed at eliminating agent dependency and streamlining
insurance purchases. This initiative enables employees to directly engage with
customers, providing a faster, more transparent, and fully digital
insurance-buying experience. Through Prime Connect, customers can explore,
compare, and purchase policies via Square Insurance’s website or consult
in-house employees for expert guidance, ensuring they receive the right
coverage.
To
support this expansion, Square Insurance has onboarded over 100 employees and
established new offices in Delhi and Gurgaon, with a new location in Noida set
to open soon, further expanding its workforce and strengthening its presence in
these areas. This reinforces the
company’s commitment to direct customer engagement and strengthens its presence
in key financial hubs. Additionally, Square Insurance plans to introduce
exclusive digital promotions and loyalty benefits to encourage more customers
to opt for direct insurance purchases.
As
India's insurance sector grows at over 10 percent annually, digital
transformation is reshaping financial services. While self-service platforms
and AI-driven underwriting are expanding financial protection, accessibility
challenges persist, particularly in smaller towns. Prime Connect bridges this
gap by extending financial security to Tier 3 and Tier 4 cities, where reliance
on traditional agents has often limited insurance adoption. By eliminating
inefficiencies, reducing mis-selling, and improving customer trust, Square
Insurance ensures individuals across urban and rural India can secure their
financial future with ease.
"Insurance
is not just a financial product but a tool for economic resilience. Yet,
traditional models often lead to delays, mis-selling, and limited access,
especially in smaller towns. Customers today demand speed, transparency, and
control over their policies, and Prime Connect is our response to this shift.
By empowering our employees to serve customers directly and integrating
AI-driven recommendations, we are making insurance simpler, smarter, and more
reliable. This initiative will not only enhance financial security but also
contribute to economic growth by increasing insurance penetration and customer confidence,"
said Rakesh Kumar, MD and Founder of Square Insurance.
With
the launch of Prime Connect, Square Insurance aims to transition 15 to 20
percent of its sales to the direct digital model over the next two to three
years. This shift will be supported by an expanded in-house customer support
and advisory team, ensuring a seamless and efficient experience for
policyholders.
As
digitalization accelerates, rural areas are rapidly embracing digital financial
solutions. Prime Connect is set to play a key role in this transformation,
offering individuals in smaller towns and villages direct access to insurance,
free from agent dependency. By enhancing financial security, reducing
vulnerability, and simplifying access, Prime Connect is bridging the insurance
gap and empowering rural communities with greater financial resilience.
About
Square Insurance - Founded by Rakesh Kumar, Square Insurance is an
InsurTech startup based in Rajasthan, providing tailored insurance solutions
with a strong foothold in rural India. Since 2017, they have bridged the gap
between customer needs and offerings, working with over 53 insurers to deliver
competitive premiums and personalized coverage. With a focus on integrity,
customer-centricity, and innovation, Square Insurance continues to expand,
recently securing $1 million (Rs 8.3 crore) in funding led by Recur Club to
open 15 new branches and strengthen their rural outreach.
For
more information, visit: https://www.squareinsurance.in/