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17-year-old Ahmedabad girl Meha Parekh is helping women become insured
Ahmedabad (Gujarat) [India], December 1: The importance of life insurance for ensuring financial security is well-known, but the penetration of life insurance in the country remains abysmally low at just over 3%. The huge financial risks women are exposed to due to lack of life insurance cover is what inspired Meha Parekh, a high school […]
Ahmedabad (Gujarat) [India], December 1: The importance of life insurance for ensuring financial security is well-known, but the penetration of life insurance in the country remains abysmally low at just over 3%. The huge financial risks women are exposed to due to lack of life insurance cover is what inspired Meha Parekh, a high school student from Ahmedabad, to set up a startup that focuses on making insurance accessible to women.
Meha’s startup InSurvive is a social venture that is insuring the lives of women from underprivileged backgrounds and making them self-reliant. The Ahmedabad International School (AIS) student is also working with banks to create a more equitable society.
“While working on a school project, I learnt that a lot of women had bank accounts, but only a small minority had life insurance. Women are the main beneficiaries of life insurance but are reluctant to avail of insurance even though cases of families facing financial struggles due to the breadwinner’s death are quite common. The objective of establishing InSurvive was to make women aware of the importance of insurance and to make it easy for them to purchase insurance,” says Meha.
