Rohit Atul Boda,Group Managing Director, J B Boda Group & Founder of R B Ventures, Walnnut

India’s insurance landscape is evolving rapidly, driven by the technological advancements that have paved the way for insure-tech, a newer domain, growing at a fast pace fueled by rising internet penetration, growing smartphone usage, and a growing middle class that seeks improved insurance products. The industry is being shaped by increasingly tech-friendly regulatory frameworks, enabling rising tech adoption, particularly within the realm of health, life, and property insurance. The shift towards digital channels, improved consumer awareness, demand for customized solutions, and governmental push for initiatives to further insurance inclusion are other key drivers behind the sector’s growth.

However, customers often grapple with challenges pertaining to lack of transparency in policy terms, delay in claims settlements, and complexities of accessing tailored products. The challenges are further amplified by the inability of traditional models to cater to the evolving consumer requirements. Nevertheless, the Mumbai-based Walnnut, powered by the eight decade long legacy of excellence of the JB Boda Group, addresses these challenges by integrating technology and streamlining processes to boost transparency and make customized insurance solutions accessible to its clients.

Client-Centric Solutions

Reflecting from the firm’s tagline 'Aap Ka Bima' is its commitment to client centricity, which motivates the organization to offer customized and innovative insurance products that are user-friendly as well. Renowned for its broad spectrum of offerings, the company caters to the needs of clients seeking health insurance and motor insurance, with products related to life insurance, travel insurance, auto insurance, and property insurance being in the developmental stages currently.

The tech venture of the prominent JB Boda Group, Walnnut boasts a seamless digital platform for effortless policy management, tailored insurance recommendations to align with the particular goals of the clients, and a robust claims support system that ensures quick resolutions.

“Partnering with Walnnut- Aap Ka Bima offers clients a competitive edge due to our customer-centric approach, technological prowess, and commitment to transparency. What sets us apart in this increasingly competitive field is our user-friendly interface, real-time customer support, and a focus on educating clients about their insurance options. Our agility in adapting to market changes and the emphasis on building long-term relationships further sets us apart from competitors, the legacy of J B BODA Group helps in reaching far and wide and helps penetration of insurance as a product”, shares Anand Kulkarni, Group Head, J B Boda Group.

Another advantage that Walnnut offers is that the company has developed a robust and dedicated client  support system that features a highly knowledgeable team, excelling in the ins and outs of the everevolving insurance landscape. Composed of carefully hired seasoned professionals that bring unparalleled expertise in underwriting, claims processing, and customer service, the company ensures accuracy and effectiveness of services.

Client satisfaction being central to the firm’s operations, the company extends expert and transparent advice to the customers that are tailored precisely to their needs, which helps in fostering trust, reliability, and building enduring relationships. Renowned for its tremendous service orientations, the J B Boda Group has transferred its key features to this new venture. These traits have not just helped the group experience exceptional growth amounting to the creation of twenty-seven national and eleven international offices, but are also contributing to Walnnut exploring a similar trajectory of growth, despite being a young organization.

Future Roadmap

Established merely two years ago, Walnnut has carved a path of steady growth, overcoming the challenges that a tech platform experiences in getting developed and taking off. Steady growth in terms of incremental revenue raises, and rising client acquisition, along with boosting geographical reach mark the firm’s journey as a positive experience. As it plans for the future, the company is driven by its mission to democratize insurance access, as well as towards the achievement of its mission which is to become a leader in the insurtech space, fueling innovation in the domain, and setting the benchmarks for exceptional customer satisfaction.

“As Walnnut grows, we remain committed to fostering a culture of innovation and customercentricity, focusing on sustainability and ethical practices, ensuring that we not only drive profitability but also contribute positively to society. Walnnut is excited about the future and is dedicated to being at the forefront of India’s insurtech revolution. Like the parent organization, we are sure Walnnut has a long and promising growth in the B-B-C and B2C retail space. We firmly believe Gen-Z wants ease of operation, hence we will use technology to its best, leveraging the immense potential of technology platforms to make insurance easier”, adds Anand. Committed to growth, the company has not only charted a strategic future roadmap that helps it achieve every one of its objectives, but has also taken proactive measures like forging beneficial partnerships and undertaking market expansion initiatives. On the front of advancing and growing, the company has planned for boosting integration of advanced technologies like AI and machine learning, through which it aims to improve the user experience and risk assessment. The company also plans to expand its product portfolio, improve the digital interfaces, and continually upgrade to stay ahead of market trends, positioning itself as a market pioneer.