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Agam Capital, a well-known global platform specializing in insurance analytics, and American Equity Life, a renowned provider of top-tier annuity and retirement products, have unveiled their exciting joint venture to introduce a cutting-edge life insurance company in India. This innovative partnership leverages the tech-enabled distribution expertise of Fintech Blue in India, Agam's state-of-the-art pALM analytical platform, and American Equity's formidable resources in capital and retirement services. The outcome promises to be a unique and standout addition to India's flourishing and swiftly expanding market for life insurance and retirement products.
Chak Raghunathan and Avi Katz, co-founders of Agam Capital, said, “Our partnership with AEL and Fintech Blue Solutions is a watershed moment enabling the founding Partners the opportunity to combine their unique competitive skills to launch a next-generation life and retirement platform.”
Anant Bhalla, chairman and chief executive officer of American Equity, said, “As one of the largest US players in the retirement annuity space, we are known as the Financial Dignity Company of America with over $50 billion of retail client assets under management. We are proud to partner with Agam to provide both capital and our expertise in both insurance and asset management to this new venture in India. We believe that the market has arrived on the global stage, and this is a pivotal time to enter the insurance and retirement space in India, in a differentiated manner.”
Fintech Blue Solutions has gained recognition for its ability to make intricate insurance products accessible to Indian consumers by leveraging its technological capabilities. Through its API-based platform, the company has successfully disrupted the $100 billion insurance marketplace in India. Anand Prabhudesai, co-founder of Fintech Blue Solutions, said, “India stands at a pivotal moment in the insurance sector, and this partnership is our commitment to expanding the array of choices available to consumers. We are immensely proud to empower Agam and AEL on this transformative journey.”