Biography of Dhirendra Mahyavanshi: Co-Founder of Turtlemint- Entrepreneur
Biography of Dhirendra Mahyavanshi:
A Strong Foundation in Education
Dhirendra Mahyavanshi began his educational journey with a
Bachelor’s degree in Engineering from DJ Sanghvi College of Engineering, where
he studied from 1996 to 2000. He then pursued a Postgraduate Diploma in
Marketing from the Indian Institute of Management, Calcutta, between 2000 and
2002. This solid educational background set the stage for his future successes
in the business world.
A Strategic Role at Quikr
Before Turtlemint, Dhirendra was with Quikr from September
2011 to September 2014. As the Head of Sales, he was responsible for devising
and implementing strategies to boost offline monetization. His work at Quikr
involved crafting effective sales plans and overseeing their execution to drive
revenue growth.
Sales Leadership at Quikr
Before Turtlemint, Dhirendra held a significant position at
Quikr, a well-known online classifieds platform. From September 2011 to
September 2014, he was the Head of Sales. His primary responsibility was to
design and implement strategies for offline monetization. This role allowed him
to blend strategic planning with practical execution, contributing to Quikr’s
expansion and revenue growth.
Specialized Roles at ICICI Lombard
Dhirendra’s career also includes a notable tenure at ICICI
Lombard, where he served in various capacities. As Vice President of the
Specialised Industries Group from April 2011 to November 2011, he led a
nationwide team focused on industries like petrochemicals, energy,
construction, and aviation. His role involved achieving financial targets,
enhancing productivity, and improving ICICI Lombard’s market position through
effective team development.
Founding Turtlemint
Dhirendra Mahyavanshi is a well-seasoned expert in the
insurance and financial technology industries, having spent over 16 years
honing his skills. He co-founded Turtlemint, an innovative company aiming to
transform the insurance experience in India. Before Turtlemint, he worked with
companies like Quikr and ICICI Lombard. Dhirendra is an alumnus of IIM
Calcutta, where he earned his MBA, and he also holds an engineering degree from
DJ Sanghvi College of Engineering.
Vision for Turtlemint
At Turtlemint, Dhirendra’s goal is to revolutionize how
people buy insurance. The company uses cutting-edge technology to simplify the
insurance process and provide digital tools for advisors to recommend the best
products. This approach supports a hybrid model of online and offline
interactions, where Turtlemint now boasts over 100,000 advisors serving more
than 1.5 million customers across thousands of locations in India.
Evolving Insurance Landscape
Dhirendra notes that while insurance has been around for a
long time, many people in India have only recently started to engage with it,
partly due to the COVID-19 pandemic. Most investments in Indian insurtech are
focused on improving distribution to reach more customers, especially in rural
areas. This focus contrasts with global trends where significant innovations
are happening in claim settlement and technology-driven solutions for
insurance.
Changing Perceptions in Insurance
Reflecting on his 19 years in the industry, Dhirendra sees a
significant shift in how insurance is perceived. When he began his career, the
industry mainly served large corporations and a few retail customers. However,
now insurance has become more attractive to top talent, especially since the
term "Insurtech" gained popularity around 2016. The industry’s
evolution has made it easier to recruit skilled professionals from prestigious
institutions.
Biography of Dhirendra Mahyavanshi: Co-Founder of Turtlemint- Entrepreneur/ Startup/Success story of Dhirendra/Life story/Age/Net worth/Turtlemint
Growth of Insurtech Talent
Today, top engineering and business schools in India, like
IITs and IIMs, are producing many talented individuals eager to innovate in the
insurance space. Dhirendra and his co-founder, both alumni of these
institutions, have noticed this trend firsthand. Turtlemint actively recruits
from these campuses and has successfully onboarded many talented professionals
who are now integral to their team.
Embracing Digital Transformation
Dhirendra agrees with Michael that technology cannot fully
replace the personal touch in sales. Insurance is fundamentally about building
trust and relationships, and while digital tools are crucial, human interaction
remains essential. Turtlemint’s model leverages technology to support advisors,
ensuring they can effectively serve their customers while maintaining a
personal connection.
Importance of Hybrid Models
Turtlemint believes strongly in the value of combining
online and offline methods. Advisors use digital tools to enhance their
services but continue to engage with customers personally. This hybrid approach
helps in educating clients, building relationships, and ensuring they receive
the right insurance products tailored to their needs.
Empowering Advisors Through Mint-Pro
Turtlemint's Mint-Pro platform is designed for insurance
advisors to streamline their engagement with clients. This digital tool offers
both an app and an online presence where advisors can access a range of
content—primarily in local languages—to share with their clients. For instance,
each day the platform releases several posters with relevant insurance
messages. Advisors select the content they find most applicable to their
clients and distribute it through popular channels like WhatsApp and Facebook.
This content sharing helps keep clients informed and engaged, and can even
drive transactions if clients express interest in purchasing insurance.
Localized Content and Community Engagement
Advisors on the Mint-Pro platform can tailor content
specifically for their regions and languages. This allows them to communicate
more effectively with their clients, who might be more responsive to messages
in their local dialect. Advisors often use WhatsApp groups or Facebook
communities to disseminate information, which helps foster a sense of personal
connection and community. The approach leverages existing social networks to
maintain ongoing engagement, which can be crucial for building and maintaining
client relationships.
Engaging Customers
Turtlemint’s strategy for customer engagement includes
creating and sharing educational content through their platform, Mint-Pro.
Advisors use this content to stay connected with their clients, providing
valuable information and updates about insurance. This approach keeps customers
engaged beyond just the times of policy renewal or claims, fostering ongoing
awareness and interaction.
Driving Financial Inclusion
Financial inclusion is a core value for Turtlemint. The
company focuses heavily on reaching customers in smaller cities and rural areas
where insurance penetration was previously low. Advances in technology, such as
affordable smartphones and cheap data, have made it easier for people in these
areas to access insurance. Additionally, local advisors play a crucial role in
educating and insuring these communities, contributing significantly to the
company’s success in expanding insurance coverage.
Aspirations and Technological Empowerment
The availability of technology has significantly impacted
the aspirations of people in smaller cities and rural areas. With affordable
smartphones and cheap data, individuals in these regions now have opportunities
to enhance their income and career prospects. For instance, even small-scale
service providers, like plumbers, benefit from access to online tools and platforms,
which can increase their earning potential. This technological empowerment is a
driving force behind the broader adoption of digital solutions and highlights
the transformative power of technology in improving livelihoods.
Timeline for story
1996 - 2000:
Bachelor’s degree in Engineering from DJ Sanghvi College of
Engineering.
2000 - 2002:
Postgraduate Diploma in Marketing from IIM Calcutta.
April 2011 - November 2011:
Vice President at ICICI Lombard, leading Specialised
Industries Group.
September 2011 - September 2014:
Head of Sales at Quikr, focusing on offline monetization.
Post September 2014:
Begins developing Turtlemint.
2015:
Co-founds Turtlemint.
2016:
Insurtech gains popularity.
2020 - Present:
Turtlemint expands significantly, driven by increased
interest in insurance.
