Dhirendra Mahyavanshi
Dhirendra Mahyavanshi is an Indian entrepreneur and the co-founder and CEO of Turtlemint, a leading insurtech platform in India. His career spans across insurance, e-commerce, and technology-led financial inclusion, making him a key figure in India's digital insurance transformation.[1]
| Dhirendra Mahyavanshi | |
|---|---|
 | |
| Born | Mumbai, India |
| Nationality | Indian |
| Education |
|
| Occupation | Entrepreneur |
| Known for | Co-founder & CEO of Turtlemint |
Early Life and Education
Dhirendra Mahyavanshi was born and raised in Mumbai to parents with modest means. His father worked in a factory and neither parent had formal education, but they deeply valued academic excellence. This background fostered Dhirendra’s ambition to rise through hard work and learning.
He pursued engineering at DJ Sanghvi College of Engineering, Mumbai. Realizing his aptitude for business strategy rather than technical roles, he pursued an MBA from the Indian Institute of Management (IIM) Calcutta, laying the foundation for his future in the financial services sector.[2]
Career
ICICI Lombard
Dhirendra began his professional journey with ICICI Lombard, one of India’s leading insurance companies. Over nearly nine years, he held multiple roles, gaining hands-on experience in sales, distribution, customer support, and market expansion. His tenure coincided with the company’s transformation into a billion-dollar enterprise.
Quikr and Entrepreneurial Pivot
Post ICICI Lombard, Dhirendra worked at Quikr as Head of Sales, where he deepened his understanding of digital platforms and customer engagement strategies—skills that would later prove crucial for his entrepreneurial ventures.[3]
Founding of Turtlemint
In 2015, recognizing the persistent complexities and low awareness around insurance in India, Dhirendra co-founded Turtlemint with Anand Prabhudesai. Their mission was to simplify insurance buying and make it more approachable and trustworthy for Indian consumers.[4]
Hybrid Model Innovation
Turtlemint stands out for its phygital (physical + digital) model, which combines:
- A robust online platform for comparison and purchase of insurance products.
- A growing network of over 100,000 Point of Sales Persons (POSPs) who serve as offline advisors, especially in tier-2 and tier-3 cities.
This inclusive approach has bridged India’s digital divide, delivering insurance access to over 1.5 million customers across 5,000+ towns and cities.
Growth and Investments
Under Dhirendra's leadership, Turtlemint has attracted over $67 million in funding from top investors including:
- Nexus Venture Partners
- Sequoia Capital
- Jungle Ventures
The platform offers motor, health, life, and travel insurance with user-friendly navigation and AI-powered product recommendations.[5]
Vision and Philosophy
Dhirendra envisions Turtlemint as a national catalyst for insurance awareness and penetration. He advocates for:
- Empowering grassroots insurance advisors with tech tools.
- Financial literacy and transparency in insurance selling.
- Data-driven personalization to match consumers with optimal policies.
He believes that insurance must shift from being a push-based product to a proactive financial planning tool for every Indian household.
Impact
- Enabled thousands of micro-entrepreneurs through its POSP network.
- Contributed to increasing India’s insurance penetration rate in underserved geographies.
- Elevated the role of technology in democratizing financial products.
See Also
References
- ↑ https://www.financialexpress.com/business/brandwagon-after-hours-with-dhirendra-mahyavanshi-co-founder-amp-ceo-turtlemint-3687393/
- ↑ https://www.entrepreneur.com/en-in/entrepreneurs/insurance-simplifier-dhirendra-mahyavanshi-ceo-and/473639
- ↑ https://www.ptinews.com/press-release/turtlemint-celebrates-milestone-of-10-million-policies-sold-validates-the-power-of-the-posp-model-and-aims-for-deeper-insurance-penetration-in-india/1577096
- ↑ https://www.businessworld.in/article/turtlemint-records-200-growth-in-motor-insurance-during-festive-season-541243
- ↑ https://ians.in/vmpl/turtlemint-reports-200-growth-in-motor-insurance-policies-during-festive-season-fy25