SecureNow Acquires Continental Suraksha's Clients, Targets Rs 200 Cr Revenue In 4-yrs
SecureNow Insurance Broker has collaborated with New Delhi-based Continental Suraksha to deliver SecureNow's technology and platform to Continental Suraksha's clients, particularly in corporate insurance.
“Our partnership with Continental Suraksha is an important collaboration for both the firms. As SecureNow’s technology capabilities grow and expand, we are well positioned to onboard new clientele whom we are confident we can serve well. We are excited for the new partnership. SecureNow is actively looking to acquire insurance brokers to build a large SME insurance platform," said Kapil Mehta, Co-founder of SecureNow.
There are over 50 million MSMEs in the country. It is estimated that fewer than 10 per cent of these have adequate insurance. Even with this low penetration, these MSMEs account for about 15 per cent of the commercial insurance market of over ₹100,000 crore. Bringing commercial insurance to small businesses is a high priority for the industry.
“After having operated in India for almost 20 years, Continental Suraksha Insurance Broking Services (CSIBS) has today chosen to combine forces with SecureNow, and voluntarily surrendered its broking license. This is a strategic move to reaffirm our commitment to better service the clients of CSIBS, and to ensure that our employees who have trusted us with their careers and future get an even bigger and better platform to continue their growth trajectory. In the coming years, I am confident that this strategic move will prove to the industry how we are stronger together than apart. I wish Kapil, Abhishek and SecureNow all the best for their continued success.” says Satish Sharma, Managing Director for Continental Suraksha.
