ABOUT US
Why We Exist and What We Stand for
Insurance in India suffers from a trust deficit.
Every household needs an insurance policy as a financial safety net, and yet most policies are purchased without enough thought. Insurance providers hardly assist in this regard. Agents push for the sale of insurance products, which come with high commissions. Comparison portals oversell policies based on referral fees. Insurance companies structure policy documents in complex language.
When a claim is filed during a family crisis, the gaps in your policy resurface. An instrument of protection becomes an instrument of loss.
Established in [2023], MyRupia started its journey with the objective of offering insurance guidance from an impartial standpoint. We realised that, amidst the noise of agent pitches and comparison portals, there was a need for someone who prioritised the policyholder’s interests. An entity that functions to educate, guide, and provide impartial insights, while being incentivised by policyholders and their faith. That’s who we are.
We are on your side. Not the insurer's.
What We Do
We help policyholders in making robust policy purchase decisions.
Offer Simplified Breakdowns
Our insurance guides seek to educate policyholders and inform policy purchase decisions in simple, honest language. We keep you informed on:
- What a policy covers
- What it does not cover
- What a reading of the fine print reveals
Assist in Identifying Gaps
Unidentified gaps in a policy cost policyholders heavily in the long run. We help:
- Review and audit policies from start to end
- Identify excluded risks in the policy
- Highlight inadequate coverage
- Correct misunderstandings
Provide Support Through Claims Process
We ensure that you have complete clarity about the claims process for successful reimbursements and coverage. We do this by offering:
- Documentation support
- Guidance in digital claim-filing processes
- Support in escalation to the IRDAI or the Council for Insurance Ombudsmen
Connect You with Advisors
MyRupia puts you in touch with independent, vetted insurance advisors for personal consultations.
- Assess your unique financial needs and potential risks
- Clarify complex jargon and policy terms for easy understanding
- Offer unbiased advice on the policy best-suited to your needs
Helps Families Exercise Their Rights
We aid misled individuals and families in pursuing grievance processes and exercise their legal rights as consumers. We:
- Provide clarity about the rights of the policyholder
- Offer guidance on the escalation processes open to individuals/families
- Help secure a fair verdict and rightful compensation
What We Do Not Do
When a platform earns from policy sales, its incentive remains unaligned with the needs of a policyholder. It is more likely to cater to the needs of a specific insurer than that of the insured. Here’s what MyRupia does not engage in:
Our earnings come from consultation fee payments made by potential policyholders.
Who We Serve
Who We Serve | How |
First-time Insurance Buyers | Help them narrow down policy options and commit to the most suitable policy. |
Existing Policyholders | Provide assistance in identifying gaps and understanding if coverage (sum assured/claim amount) is sufficient. |
Policyholders with Rejected Claims | Offer guidance from claim filing to escalation in cases where grievances arise with the insurance company. |
Aggrieved Families | Provide support to policyholders or families who have been misled by their agent or insurance provider into purchasing unsuitable policies. |
Underserved Policyholders | Clarify and provide solutions to underserved or confused policyholders on grievance and reparation processes. |
Our Mission
We are structurally independent.
MyRupia does not hold any insurance brokerage license nor does it function as an IRDAI-registered insurance intermediary. We, intentionally, operate as a service platform for consumer information and guidance on insurance in India. We aim to/for:
Become a Leading Source
Our structural independence is what makes us a credible source for guidance on policies. We aim to become a leading, reliable source of objective insurance-related information and aid policyholders in financial planning.
Customer Empowerment
We seek to empower customers to understand their policies inside out and ask the right questions before purchasing an insurance policy. An empowered policyholder equipped to demand accountability from insurers is the final goal.
Encourage a Culture of Transparency
By educating and guiding policyholders, we aim to encourage heightened transparency across the insurance service providers in India. Our customers, equipped with knowledge of their rights as policyholders, are able to decode the fine print and demand complete disclosure.
Note on Our Content
All information provided on MyRupia has been reviewed for its accuracy and credibility. We attach disclaimers where they are required and flag sections where advanced financial or legal expertise is necessary. Our guidance is never overstated or inflated to look good on paper.