Mukut Deepak, Founder, D20 (Distribution 2.0) network private limited

The New Face of Insurance - Mukut Deepak

Everything entity living or non-living has a value whether it is imagined or assigned. That value is best expressed in terms of insurance and the amounts one is willing to insure it for. However insurance is not truly understood by most of us, myself included. The fault lies in complex conventional products that are difficult to decipher. We have all thought “hmmm someone should make a simpler insurance plan” but Mukut Deepak is the only Young entrepreneur among us who is making it a reality. Yourstory got Mukut to tell us more about his business idea D20 (Distribution 2.0) network private limited and how they will change the face of insurance in India.What is the new and improved insurance that D₂0 is fielding?

D20 (Distribution 2.0) network private limited is a start up committed to bringing to the common man’s doorstep a low cost, simple to understand and consumer friendly financial service products (insurance, loans etc) through unconventional distribution channels (convenience stores etc.)

D20 offers the following

A financial literacy group to build awareness and create critical mass for offering new financial services products

Personal accident insurance @ Rs 100 a year (in partnership with ICICI L) is the first product launched

Working towards building a nationwide distribution network of convenience stores and a comprehensive portfolio of essential financial service products

An extensive eco-system involving individuals, corporate, NGOs and retailers in the works

Tell us how D20 edges out normal conventional insurance?

Our product is better on three dimensions

• Much more affordable @ Rs 100/ year only
• Much simpler – no lengthy forms or complex documents , sold like a recharge card
• Much more convenient – made available @ the next door convenience store

Can you point out the important features of your business model?

Our Business model is based on these elements

Buying in bulk brings down purchase price (this is as true for financial services as for any other category)

Lower cost channels enable distribution of lower ticket size products

Mass market businesses (large volume and low margin like shampoo sachets) are profitable too

Tell us more about the team behind D20

We come from different back grounds but are bonded by the same dream

Saurabh Goyal (founder and chief executive @ ThinkLink – where D₂O was conceived) is a director

Tarana Singh (Entrepreneur, performer (TV and live shows)) is a cofounder and director

Mamta Mamta (serial entreprenuer, mentor and maven (networker) – a fashion and textile designer by profession) – she leads the affiliate / alternate channel initiative

Gopal Shenoy (sales veteran with 20+ years of experience in FMCG sales at HUL) - he is the programme manager for the convenience store network

Mukut Deepak : Ex BCG, HUL , IIM C – 9+ years of experience in business consulting as well as hands on channel management

Who are your major partners and affiliates?

ICICI Lombard – the largest private sector insurer in India amongst the most trusted insurance organizations is our insurance partner

What does the future hold for D20 in terms of growth?

Thinking around scale up is centered on the four drivers of business differentiationGrow product portfolio – expand portfolio first to other relevant insurance products (low cost health, pension plan etc.) and then to other non insurance financial services products (support account opening, micro loans)

Grow channel reach – grow through convenience stores and in partnerships organizations who are reaching out to target customers in some way. Target presence in all major urban centers (top 100 cities) within a year. 400+ cities and top 1000 villages within two years.

Strengthen transaction platform – online platform where all affiliates can interact and transact seamlessly. Where thousands of affiliates can perform and transact millions of transactions with complete visibility and without any hassles

Strengthen community – Spread financial literacy amongst group members . Invest in building an identity affiliates and customers strongly associate with

Why did you choose to be an entrepreneur? Was it a personal decision or a compulsion?

I saw this as my shot at getting counted in a big way. At creating something which can change the world. At building my own Google. When I thought of people I really admired – they were all entrepreneurs who built meaningful organizations. After a point I felt that I could no longer wait but needed to give myself the chance to make this happen.

What has been the prime test for you so far, and how did you triumph over it?

The biggest challenge has been to maintain self belief in the face of many ups and downs. It has been a tough but rewarding journey. Somewhere in this journey I could acquire the humility to realize that as an individual alone you cannot make a significant change happen. The universe has to conspire for the change to take place. Hence, one must have the ability to surrender- give ones absolute best at all stages of the journey and then surrender the fate/outcome to the collective conscience.

What is the biggest gaffe you made while learning the ropes?

I made two big mistakes in my early days as an entrepreneur- first was trying to grow too fast, not preparing enough for the worst case scenario. Second was trying too many things – not sticking to the one area I was passionate about

What compels you to be an entrepreneur despite all the odds?

The biggest driver is the dream with which the journey started - which is to build that magical organization which will touch millions of lives and work to change the world. The next driver is your team which gets wedded to the dream as much as you

Do you have any guidelines that you think entrepreneurs should follow?

Never let go of passion / the dream that started it all. Never compromise on the team – build a team that loves your dream as much as you do, like every one of your core team members enough so as to be the best friends Build humility and an ability to trust the collective conscience.

Contact Details:

Twitter contact handle – mukutd

· Website – d20.co.in

· Facebook page – wealth for all

Yourstory is sure that the new wave in insurance that Mukut has begun with D20 will sweep overIndia very soon. We thank him on behalf of our befuddled countrymen for the great work that he is doing and wish him much success…