Ganage Democratizing Insurance Sector Through Digitalization
We live in a transformative age, where traditional business models are being challenged and reconsidered. Ganage stepped in to transform insurance processes, raise awareness and simplify operations between customers and insurers. CBW had an interview with Tornike Akhobadze, Co-Founder and Marketing Director to learn more about how they created a unified platform to reach their goals:
In today's Georgian insurance market, the problem of insurance awareness is significant. Simply put, the public does not understand the intricate details of insurance. Our purpose is to provide helpful tips to customers while explaining insurance products in a straightforward, interesting, and entertaining manner.
Ganage was founded with the primary goal of democratizing the insurance sector through digitalization. This makes selecting, comparing, and purchasing insurance products much easier.
The platform is designed for both individuals and legal entities, where it is possible to compare and purchase insurance products.
A tender board is one of the unique features Ganage provides; who benefits from this feature?
Ganage’s new product "Tender Board" is a convenient, comfortable, and free way for the management of the company to announce an insurance tender.
We all know how time-consuming and tedious the process of announcing an insurance tender can be. To do so, you must first determine what information the insurance provider requires from you, which varies widely depending on the insurer. Then you must gather the relevant information and speak with a number of insurance agents one by one.
To avoid this long and difficult process, we offer you a "tender board", where you fill out a unique application and announce a tender in exactly 3 minutes. Ganage Partner 14 Insurance companies will see the tender as soon as it is placed and will prepare their own offer. The management of the company will get acquainted with all the offers in one space (in a personal cabinet).
What are the most popular policies in Georgia, and how well aware are people about the importance of insurance?
In the insurance market at this stage, the most popular product in the field of retail insurance is auto insurance (Casco). Despite the fact that the demand for auto insurance is growing more and more every year, only 6% of the car fleet is insured, which is quite a low rate. The reason for this is the lack of public awareness and distrust of insurance. That's why our mission is to explain to people the importance of insurance and show its need. Through our platform, users will be able to clarify insurance terms and select the right insurance policy. Ganage Insurance allows customers to compare insurance companies' offers in detail and purchase a policy that is tailored to them. This way you will avoid various misunderstandings and dissatisfactions in the future.
What’s the next big thing for your startup?
Our company has been operating for a year and has gone through a number of exciting and challenging stages. We introduced our first product, "Tender Board," in August 2021, and the results exceeded our expectations. By the end of the year, the tender board had received 45 million GEL worth of bids. In 2022, we anticipate even better outcomes. "Ganage Insurance," a retail insurance product, will be released towards the end of February. Consumers will be able to compare and purchase insurance company offerings on this website. It is important that we build, modify, and adapt our product to the needs of the customer. We also intend to launch it on the international market, for which first steps have already been taken.