Lord’s Mark Insurance Broking, the insurance unit of the conglomerate Lord’s Mark Industries, has acquired direct insurance broking licence from the IRDAI to life and common insurance merchandise.
The direct broking licence marks Lord’s Mark Industries’ foray into the insurance space, reported Hindu Business Line.
The new broking firm is already in talks with just a few main insurance corporations to formalise collaboration with them for launching life and common insurance merchandise on its platform referred to as Policy King.
Policy King which could be downloaded and put in on smartphones and can provide its prospects services to check all out there insurance provides and to decide on the best life insurance, time period life insurance, well being insurance, motor insurance, and so forth.
With Policy King, Lords Mark Insurance Broking will likely be penetrating the under-served market segments in Tier-2 and Tier-3 cities of the nation aside from catering to prospects within the metro cities.
As part of the expansion technique, Lords Mark Insurance Broking will develop a pan India insurance franchise community and recruit greater than 5,000 insurance advisors throughout India by December 2022. To execute the enlargement plan, the corporate has strengthened its management staff by hiring senior executives from just a few high insurance firms. Apart from scouting for progress alternatives, Lord’s Mark Industries can be on the lookout for strategic buyers to deepen the market penetration.
