Freo Secures IRDAI License to Expand Insurance Offerings:
Freo, the digital finance application, has received a corporate agent license from the Insurance Regulatory and Development Authority of India (IRDAI), allowing it to offer a range of customized insurance products to its 25 million users. This initiative comes amid India’s low insurance penetration rate of approximately 4.2%, which is significantly below the global average of 7%. With a commitment to “Insurance For All By 2047,” Freo aims to provide affordable and intuitive insurance solutions to address the needs of its diverse user base, particularly in Tier II and III cities.
