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News & Views


Tuesday, Sep 5, 2017

Essel Finance acquires Bimadirect

[Source : DNA]

A technology-enabled business providing insurance, it operates a pan-India insurance aggregation website called Bimadirect.com

Essel Finance Management LLP (EFM), one of India’s fastest growing financial services conglomerate, has acquired a controlling stake in Bimadirect.com for an undisclosed sum.

An Irda (Insurance Regulatory and Development Authority)-licensed digital insurance broking portal, Coretree Insurance Brokers (India) Pvt Ltd was founded in 2011. A technology-enabled business providing insurance, it operates a pan-India insurance aggregation website called Bimadirect.com.

Amitabh Chaturvedi, MD, Essel Finance, said, “With the acquisition of Bimadirect.com, we are foraying into digital distribution for mass customer base. The acquisition is in line with our vision to become a one-stop shop for wealth management services offering advise through our branch network and digital channel.”

Brijesh Parnami, executive director and chief executive officer, Essel Finance Wealth Zone Pvt Ltd, will be heading the Bimadirect.com business.

Bimadirect.com is a state-of-the-art internet-based comparison and retail program for distribution of individual and group insurance products to customers in India.

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