For more than a decade now, India has witnessed a strong march of the General Insurance industry which has witnessed a health Cumulative Annual Growth Rate (CAGR) for past decade or so coupled with a considerable offering of innovative products offered

Several well-established insurance brands have been focussing on differentiating themselves through insurance products, customer services, use of insurance expertise to deliver value to the customer and the list goes on.

In this technological era COCO by DHFL General Insurance has attempted to bring about invaluable changes that consumers haven’t enjoyed so far.

COCO By DHFL General Insurance was launched in November 2017.The focal point of the brand was to embrace technology to the core, enabling the company to offer innovative insurance solution to its customers. COCO has been hugely successful in converging customer’s expectation in a very short period. It is headquartered in the business capital city of Mumbai. COCO stands amongst the most talked about player within the Indian insurance fraternity.


Mr. Vijay Sinha is the MD & CEO of the company.

Mr. Sinha throughout his illustrious career, has been a strategic business leader who led key leadership positions at prestigious companies like LIC, Tata AIA Life Insurance Company, Bajaj Allianz Life Insurance Company, and Dewan Housing Finance Ltd. Right from streamlining complex distribution development, defining corporate marketing & communication strategies, creating sales & distribution network and defining moments through Product Development, Project Management, and Sales Process Re-engineering, he has managed it all. One of the key highlights of his journey at COCO was his expertise in launching the venture without any foreign alliance. He opined ‘Digitisation’ to be the future and worked diligently to put an Insurance manufacturer into the InsurTech space.



The brand name COCO is a combination of ‘Connected Coverage’ that emerges from the brand purpose of ‘Connectivity’ in a ‘Digital World’, and ‘Coverage’ that is wholly based on their offering of insurance protection. Rather than focusing on a ‘2-minute buying’ concept, COCO had a different outlook right from the inception that has led to such market accreditations bestowed on the company. By leveraging the capabilities and power of digital technology, it has crafted an ecosystem that recommends products and coverage which are customizable as per the customers’ needs & requirement.


Technology is playing a major role in streamlining operations and building efficiency across several sectors and the insurance industry is also being impacted by it. Although technology always stood as the backbone of the traditional insurance industry, its prominence was limited at the backend. Over the years, as the consumers have been more adaptive towards this sector and technology taking the centre stage, the Indian Insurance industry is set on the right trajectory of growth. As technology continues to play a pivotal role in various financial verticals, InsureTech has evolved as the latest platform for the insurance industry.

Much like the e-commerce industry, the insurance sector has taken colossal steps by embracing newer technologies, which in effect enhanced customer experience, recommendations, and offering tailored packages as per the requirement of the customers,


As a dominant InsureTech player in the insurance sector, COCO is a forerunner in incorporating innovative concepts by walking an extra mile that differentiates themselves in this competitive technological era. The entity has identified three valuable areas that are yet to be offered to the buyers;

  • True Customization: COCO emphasizes educating the buyers about the salient features of the add-on services and why it can be beneficial for them.
  • Profile Based Product Feature Recommendation: Banking on the new-age technologies which enables COCO to present an interactive online platform analyzing consumer profile to provide an insurance plan that makes sense and engages customers in the most interesting ways.
  • Ultra-competitive Market Rate: An insurance product from COCO allows customers to customize the insurance plan as per their requirements and facilitates the purchasing of these products directly from the web portal.

We started by targeting owners of old vehicles as we found that first-time owners of new vehicles are generally not involved in making motor insurance purchase decisions. Usually, distribution channel and price are considered important factors in the sale of insurance products to such consumers, that’s where COCO comes into the picture. We have targeted model-specific owners and lookalike audience” further added Vijay.

He also stated, “In the Health Insurance space we observed that lack of clarity on the insurance coverages, at times may become very bewildering for people who are uninitiated in the health insurance scheme of things and many may end up selecting a PRE-BUNDLED HEALTH INSURANCE PLAN as an easy respite from having to go through the ordeal of making the choices. However, Pre-Bundled Health Insurance plans may not be as helpful as they are perceived to be, because they may not cover many ailments. These plans are created as one-size-fits-all products, but when it comes to Health Insurance, each individual (and family) is different and has different health needs. In such cases, the pre-bundled plans might become redundant. And hence COCO launched its retail a’ la’ carte’ health insurance plan. This Health Insurance Product was conceptualized with an objective of that “Your Health Insurance Policy should only meet your and your family’s need and hence you only pay for covers which you choose”. Hence, This Health Insurance policy can be customized to meet varying healthcare needs, family sizes, ages, and lifestyle requirements”.  


Traditionally, the insurance industry has been channel driven. So, our biggest hurdle is the mindset that insurance can only be purchased offline, through agents. One of the biggest challenges is to convince people that insurance buying can be an independent decision and that too, online. COCO seeks change in the way insurance talks to people, by understanding the new age Indian and providing great protection for all assets and liabilities that they hold — but don’t always think about.


General Insurance as a category has a tremendous future in India. The potential can be gauged from the following data points:

  • General Insurance penetration is at meagre 0.9% of GDP.
  • Over 70% of 2 Wheelers are not insured and an estimated 40% 4 wheelers do not renew insurance
  • Health Insurance penetration is abysmally low with about 80% of the health expense still being out of pocket.
  • The industry is growing at a CAGR of 17% since privatization and the market share of private players is increasing by the day.
  • The Private Insurance players have already become the dominant force in the industry and with InsurTechs emerging, the penetration through digital mediums are going to speed up the growth further as insurance buying & servicing will be erased and will be available at the click of a mouse.


The InsurTech, COCOwithin a short span, has managed to grab the eyeballs by winning countless accolades and appreciations at various platforms. It was recognized amongst Top-10 Promising Insurance Start-ups by Silicon India Startup City Magazine in 2018. Other prestigious awards include:

  • Brand Excellence in BFSI category – CMO Asia in Singapore
  • Mobby’s Award – COCO launch on November 30, 2018
  • Drivers of Digital Award – COCODrive Launch Campaign
  • DIGIXX Award – Best use of Digital in BFSI


In the universe of insurance products in India, general insurance has received little attention from consumers this far, unless there is a ‘mandatory’ tag attached. This is probably due to the perception of it being tedious to purchase and cumbersome to claim. COCO is changing this perception.

Vijay wraps saying, “We heavily rely on content, especially video content, to carve a niche for ourselves in the market. While our first brand film on COCORide garnered over 17 million views across social media channels, our second film, ‘Second Chances’, gathered over 22 million views. Both films also won awards for their creative content. We regularly do social media campaigns to create awareness about insurance among millennials – the much neglected, but very important market segment.”


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