CarTrade Tech, a multi-channel online auto platform, has announced a strategic partnership with CoverStack Technologies, a digital ‘Insurance Infrastructure as a Service’ platform.
Through this partnership, CoverStack Technologies will be able to offer digital insurance services on CarTrade Tech’s dealer-oriented platforms. This will help dealers to ensure their inventory seamlessly while they focus on their core i.e. selling vehicles.
The process of purchasing or renewing a motor insurance policy is manual and time-consuming for the majority of the players in the online automobile business. Aiming to eliminate the paperwork hassle of obtaining insurance, this partnership aims to smoothen the insurance buying experience.
“CarTrade Tech has been an able partner to a large number of a new car, used car, and bike dealers in the country. The tech solution also helps the dealers to help enhance customer experience by digitally managing their claims,” said Banwari Lal Sharma, CEO – Consumer Business, CarTrade Tech.
CoverStack Technologies developed a plug-and-play model, which provides technological solutions and insurance infrastructure to Banking, Financial Services, and Insurance players.
By partnering with CarTrade Tech, CoverStack Technologies will extend its insurance-providing technology and enable a one-stop shop for motor insurance for CarTrade Tech Dealers.
Sanjib Jha, CEO, CoverStack Technologies said, ‘‘The end game is to strengthen the InsurTech landscape by innovative technological advancement leading to financial inclusion and greater access to insurance across India.”
CoverStack Technologies has partnerships with over 22 players across the BFSI, FinTech, NBFC and MFI sectors. A few of its partners are ICICI Securities, Google Pay, Spinny, Arohan Financial Services and Satin Credit Care Network, where CoverStack Technologies is enabling its digital customers to receive seamless, consumer-friendly insurance solutions.