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As insurance penetration in India remains a challenge, more startups are looking to leverage their distribution capabilities to grab a chunk of the general insurance market.
Multiple startups including bike-taxi platform Rapido, wealth-tech firm IndMoney and vehicle services firm Park+ have already secured or are in the process of applying for a corporate agency licence, which allows companies to tie up with 27 insurance companies across life, general and health to distribute their products.
Rapido is currently seeking an approval from the Insurance…
