Freo Obtains Corporate Agency License from IRDAI
Freo obtains its corporate agency license from IRDAI and has since started a full-fledged campaign to make health insurance easy, transparent, and stress-free so that customers can confidently make better decisions.
Freo is taking on a new challenge after making credit simpler for more than 35 million users: making health insurance simple enough for all Indians to understand.
Millions of Indians are still hesitant to purchase insurance, not due to the cost, but rather because they are unclear about it. People are frequently turned off by complicated jargon, concerns about coverage, and fear of sales traps.
Just 3.7 percent of Indians have insurance, which is far less than the seven percent global average.
Eight out of ten consumers skip insurance as they believe it to be too complicated or irrelevant, according to Freo's research conducted in several cities.
By assisting more than 35 million users in 1,200+ cities and 19,000 pin codes in making prudent borrowing, spending, and investment decisions, Freo has established itself as a reliable brand in the digital banking space.
Freo has been assisting people in taking charge of their personal money with solutions like digital gold, fixed deposits, UPI payments, and rapid credit—all within a single app.
It is now giving insurance the same clarity.
Learn.freo.money, Freo's new platform, aims to simplify and make insurance easier to understand by breaking it down into its component parts. In addition to Hindi and English, it will soon be offered in a number of regional languages.
It is anticipated that insurance would soon be explained in plain English and Hindi, with regional versions to follow.
It will include real-world examples, frequently asked questions, and comprehension-building resources.
Additionally, learn.freo.money and the Freo app will offer customized insights.
Indians were reminded by the pandemic of the importance of financial security. Since then, both the demand for and the cost of insurance have increased. Premiums were Rs.1 lakh crore this year, 10 percent more than the previous year.
Also Read: Leadership Traits 2025 Case Study: The Middle-Class Man Who Delivered Rs.2000 Crore Dream
Freo is contributing to India's progress toward the national objective of "Insurance for All by 2047" by providing easily understandable, non-technical insurance content in your native tongue. Freo wants to enable families to make confident, well-informed financial and health decisions and feels that simplification is the key to broad acceptance.