The insurance penetration rate in India stands at a meagre 4.2%, prompting the Indian government and IRDAI to actively strive for its improvement. Currently, approximately 80% of insurance policies in India are sold through intermediaries and individual agents. However, their utilization of technology is extremely limited, resulting in inefficient business operations. Two primary real-world obstacles hinder the expansion of the insurance industry.

1. Over 5.5 million insurance agents in India manage their businesses using traditional tools like diaries or spreadsheets, severely limiting their scalability and potential for generating greater wealth.
2. India possesses a considerable pool of untapped talent in the insurance sector, but the absence of adequate technological support restricts the number of newcomers entering the financial workforce each year.

PermuteHQ offers Software-as-a-Service (SaaS) platforms designed for both small and large insurance intermediaries and agents. Our platform automates and digitizes various day-to-day activities involved in insurance distribution, significantly saving time for end users and allowing them to focus on generating more income.

Our objective is to democratize the use of insurance technology and make advanced solutions like AI/ML and Smart Automation accessible to all. We prioritize affordability, ensuring that every insurance distributor in India can leverage these technologies to boost their income.

PermuteHQ provides a comprehensive InsurTech solution that encompasses a range of advanced features, aimed at revolutionizing the insurance industry in India.

Key Features

1. AI-Powered Policy Reader: Our cutting-edge technology incorporates an AI-powered policy reader with an exceptional accuracy rate of over 98%. This powerful tool enables the seamless extraction of relevant information from insurance policies, streamlining the data entry processing and minimizing errors.
2. Wide Coverage of Insurers: We have established partnerships with more than 15 top insurance companies in India. This extensive network allows us to provide a diverse range of policies and cater to the specific needs of our users, ensuring they have access to a comprehensive selection of insurance options.
3. Extensive Integrations: PermuteHQ’s InsurTech solution offers extensive integrations with various communication channels and legacy systems to enhance productivity. We integrate with popular platforms such as dialler systems and WhatsApp, enabling efficient and seamless communication between insurance agents and customers. Additionally, our solution facilitates integration with existing legacy systems, ensuring a smooth transition and optimal utilization of resources.
4. Renewal Management System: Our platform includes a robust renewal management system that keeps track of policy renewal dates and sends timely alerts to agents and policyholders. These alerts serve as reminders, ensuring that policies are renewed promptly and reducing the risk of lapsed coverage. This feature simplifies the renewal process and enhances customer satisfaction by providing timely notifications.
5. Comprehensive Dashboards: PermuteHQ’s InsurTech solution offers comprehensive dashboards that break down insurance categories into simpler segments. These intuitive dashboards provide agents and distributors with a clear overview of their business performance, enabling them to analyze data, identify trends, and make informed decisions. By presenting information in easily digestible formats, our dashboards enhance efficiency and facilitate better processing of insurance-related activities.

With these advanced features, PermuteHQ empowers insurance intermediaries and agents in India to leverage state-of-the-art technology, streamline operations, and drive business growth.