INSURTECH STARTUPS

The Indian healthcare sector is booming, becoming an economic backbone with opportunities in healthtech and insurtech. High-end technology has opened doors for new careers, emphasizing the importance of specific skills for success in the evolving in...

Welcome to a brand new edition of ETtech Unwrapped – our weekend newsletter. The week was packed with important stories broken by our reporters. Here’s a recap if you missed them.

The company's shares were up nearly 10% in the early trade on Wednesday, the stock closed at Rs 341,75, up 1% from the previous day. In the last quarter of FY24, Go Digit reported Rs 2,336 crore worth of gross premium collected, up 19.4% from Rs 1,9...

Finsall, a Bengaluru-based insurtech startup, raised Rs 15 crore in bridge funding led by Unicorn India Ventures and Seafund. The funds will be used to establish a non-banking finance company for scaling lending operations and enhancing partnerships...

Insurtech startup Kenko Health is facing closure due to a shareholder battle and funding issues. The company, backed by Peak XV Partners and Orios Venture Partners, struggled to raise capital from the Hero Group, leading to a stalemate. With no imme...

Mygate app, in partnership with Acko General Insurance, received an aggregator licence from IRDAI to distribute insurance policies, offering exclusive pricing and expanding product range.

Insurtech startup Coversure raised $4 million in pre-series A funding led by Enam Holdings. They plan to build a consumer-centric insurance engagement platform using data intelligence and machine learning capabilities.

The Bengaluru based insurtech startup saw the retail portion subscribed 4.3 times, non institutional investors subscribed 7.2 times while qualified institutional buyers subscribed to the IPO 12.5 times. The Fairfax backed startup is looking to go pu...

This is Pratik Bhakta in Bengaluru. Insurance startup Digit, by valuing itself at a discount of 25% to its last known private market valuation, seems to have stuck its neck out. And it’s a move that’s certainly got everyone talking.

Multiple people in the know have told me that the insurance regulator is not comfortable with the typical corporate structures of startups, and may not be in favour of granting them an insurance manufacturing licence. The regulator wants these firms...

Backing of a large local investor, considerable net worth of promoter and founder are among key requirements laid down by the sector regulator.

Funding for the insurtech sector dropped to $4.5 billion in 2023, down 44% from 2022 and 72% from its 2021 peak. Poor performance by Lemonade and frothy valuations have curtailed the appeal of the sector. However, reinsurers made investments in a re...

Acko is eyeing profitability on the back of its general and health insurance segment turning earnings positive, founder and CEO Varun Dua said in an interview with investment bank UBS Global. Recently, Acko floated its life insurance company focussi...

Insurtech firms such as Bengaluru-based Onsurity and Pune-based Loop Health help employers offer group health policies to their employees and run a platform to offer employee wellness services, too. They want to capitalise on the Insurance Regulator...

From banks that want to cross-sell insurance products to ecommerce companies offering to insure large-ticket purchases to travel aggregators offering insurance against flight delays, companies are roping in insurance technology startups such as Zopp...

Insurtech startups such as Acko and Digit have switched gears to health insurance which is a more long-term product despite starting with motor insurance, which is mandatory for vehicle owners in India, as their principal product.

Insurtech startup Bharatsure, the parent of Healthysure, has raised $1 million in a funding round led by early-stage venture capital fund Capital-A.

Riskcovry plans to use these funds to push towards profitability and eventually close its series B round of funding.

BimaKavach sells corporate insurance products, mainly targeting small and medium enterprises. It currently has a portfolio of 18 insurance products, broadly categorised into liability, asset, engineering, marine, and group health insurance.