Top 10 Insurtech Startups in India

In recent years, India has witnessed a surge in innovative startups disrupting the insurance sector with technology, collectively known as Insurtech. These startups are leveraging artificial intelligence, machine learning, blockchain, and big data analytics to revolutionize insurance processes, enhance customer experience, and improve efficiency. Here’s a detailed look at the top 10 Insurtech startups currently making waves in India:

1. Policybazaar

Description: Policybazaar is India’s largest online insurance aggregator, offering a platform for users to compare and purchase insurance policies across various categories like health, life, car, and travel insurance. The company uses advanced analytics to provide personalized policy recommendations.

Website: Policybazaar

2008Gurugram, HaryanaYashish Dahiya, Alok Bansal, and Avaneesh Nirjar$600+ million
Policybazaar-Top 10 Insurtech Startups in India

Summary: Policybazaar has played a pivotal role in transforming how insurance is bought and sold in India, focusing on transparency and customer empowerment through technology.

2. Digit Insurance

Description: Digit Insurance is known for its fully digital insurance offerings, including health, motor, travel, and home insurance. The startup emphasizes simplicity and quick claims processing through its digital-first approach.

Website: Digit Insurance

2017Bengaluru, KarnatakaKamesh Goyal$200+ million
Digit Insurance-Top 10 Insurtech Startups in India

Summary: Digit Insurance has gained popularity for its customer-centric policies and seamless digital experience, making insurance accessible to a wider audience.

3. Acko General Insurance

Description: Acko General Insurance is a digital insurance provider offering innovative products like micro-insurance and contextual insurance policies. The company focuses on leveraging technology to streamline the insurance process.

Website: Acko General Insurance

2016Mumbai, MaharashtraVarun Dua$200+ million
Acko General Insurance-Top 10 Insurtech Startups in India

Summary: Acko General Insurance is disrupting the traditional insurance market with its tech-driven approach, aiming to simplify insurance for consumers and businesses alike.

4. Go Digit

Description: Go Digit is a technology-driven insurance company that offers a range of general insurance products, including health, travel, and motor insurance. The startup is known for its customer-friendly policies and quick claim settlement process.

Website: Go Digit

2016Bengaluru, KarnatakaKamesh Goyal$100+ million
Go Digit-Top 10 Insurtech Startups in India

Summary: Go Digit has rapidly grown in the Insurtech space by focusing on digital innovation and customer satisfaction, making insurance more accessible through technology.

5. Coverfox Insurance Broking

Description: Coverfox is an online insurance broker that simplifies the insurance buying process by offering comparisons and purchase options for various insurance products, including health, life, and vehicle insurance.

Website: Coverfox

2013Mumbai, MaharashtraVarun Dua and Devendra Rane$50+ million
Coverfox-Top 10 Insurtech Startups in India

Summary: Coverfox has carved a niche in the Insurtech sector by providing a user-friendly platform for comparing and purchasing insurance policies online.

6. RenewBuy

Description: RenewBuy is an online insurance aggregator that offers a wide range of insurance products, including motor, health, and travel insurance. The startup emphasizes transparency and customer-centric services.

Website: RenewBuy

2015Gurugram, HaryanaBalachander Sekhar$50+ million
RenewBuy-Top 10 Insurtech Startups in India

Summary: RenewBuy has gained traction by focusing on enhancing customer experience through technology and simplifying the insurance buying process.

7. Turtlemint

Description: Turtlemint is a digital insurance platform that helps users compare and purchase insurance policies online. The startup provides a seamless experience for buying health, life, and motor insurance.

Website: Turtlemint

2015Mumbai, MaharashtraDhirendra Mahyavanshi, Anand Prabhudesai, and Kunal Shah$50+ million
Turtlemint-Top 10 Insurtech Startups in India

Summary: Turtlemint stands out in the Insurtech space for its customer-focused approach and user-friendly platform, aiming to simplify insurance buying for consumers.

8. InsureFirst

Description: InsureFirst is an Insurtech startup that specializes in providing insurance solutions for businesses, including group health insurance, employee benefits, and corporate insurance policies.

Website: InsureFirst

2018Bengaluru, KarnatakaSrinivasan Venkita PadmanabhanUndisclosed
InsurFirst-Top 10 Insurtech Startups in India

Summary: InsureFirst caters to the corporate sector by offering customized insurance solutions and leveraging technology to optimize insurance management processes.

9. EasyPolicy

Description: EasyPolicy is an online insurance comparison platform that helps users compare and choose from a variety of insurance policies, including health, life, and vehicle insurance, based on their needs.

Website: EasyPolicy

2011Gurugram, HaryanaAlok Bhatnagar$15+ million
EasyPolicy-Top 10 Insurtech Startups in India

Summary: EasyPolicy simplifies the insurance buying process through its user-friendly platform and extensive policy comparison options, enhancing consumer choice.

10. GoCover

Description: GoCover is a digital insurance platform that offers customizable insurance solutions for individuals and businesses. The startup focuses on providing transparent and affordable insurance options.

Website: GoCover

2020Mumbai, MaharashtraPravin JadhavUndisclosed
GoCover-Top 10 Insurtech Startups in India

Summary: GoCover has quickly established itself in the Insurtech sector by leveraging technology to offer personalized insurance products and enhance customer experience.

Frequently asked questions (FAQs) about Insurtech startups in India

1. What is Insurtech?

Answer: Insurtech refers to the use of technology innovations designed to squeeze out savings and efficiency from the current insurance industry model. Insurtech startups use technologies such as artificial intelligence, machine learning, blockchain, and big data analytics to innovate and improve the insurance sector.

2. How are Insurtech startups different from traditional insurance companies?

Answer: Insurtech startups typically operate with a digital-first approach, offering streamlined processes, quicker claims processing, personalized customer experiences, and often more competitive pricing compared to traditional insurance companies. They leverage technology to enhance efficiency and customer satisfaction.

3. What are the advantages of using Insurtech startups for insurance policies?

Answer: Advantages of using Insurtech startups include:

  • Convenience: Policies can be purchased and managed online, anytime and anywhere.
  • Transparency: Clear and upfront information about policies and pricing.
  • Personalization: Tailored insurance solutions based on individual needs.
  • Quick Claims Processing: Automation and digital processes lead to faster claim settlements.

4. How secure are online insurance transactions with Insurtech startups?

Answer: Insurtech startups use advanced encryption and security measures to protect customer data and financial transactions. They comply with regulatory requirements and standards to ensure the security and confidentiality of user information.

5. What types of insurance products do Insurtech startups offer?

Answer: Insurtech startups in India offer a wide range of insurance products including:

  • Health insurance
  • Life insurance
  • Motor insurance
  • Travel insurance
  • Home insurance
  • Corporate insurance solutions
  • Micro-insurance

6. How can I compare insurance policies offered by different Insurtech startups?

Answer: Most Insurtech startups provide online platforms where users can compare various insurance policies based on factors like coverage, premium rates, benefits, and exclusions. These platforms often feature tools for personalized recommendations based on user inputs.

7. Are Insurtech startups regulated by government authorities?

Answer: Yes, Insurtech startups in India are regulated by the Insurance Regulatory and Development Authority of India (IRDAI). They must comply with regulatory guidelines regarding licensing, operations, customer protection, and financial stability.

8. Can I purchase insurance policies directly from Insurtech startups online?

Answer: Yes, Insurtech startups enable users to browse, compare, and purchase insurance policies directly through their online platforms or mobile apps. The entire process, from obtaining quotes to policy issuance, can often be completed online.

9. How do Insurtech startups use technology to improve customer experience?

Answer: Insurtech startups leverage technology to offer:

  • Seamless digital interfaces for policy purchase and management.
  • AI-driven chatbots for customer support and queries.
  • Predictive analytics for personalized policy recommendations.
  • Faster claims processing through automation and digital documentation.

10. What is the future outlook for Insurtech startups in India?

Answer: The future looks promising for Insurtech startups in India as they continue to innovate and expand their offerings. With increasing digital adoption and tech-savvy consumers, these startups are expected to play a significant role in shaping the future of the insurance industry, driving efficiency, transparency, and customer-centric solutions.


These top 10 Insurtech startups in India are at the forefront of transforming the insurance industry through innovation and technology. From online aggregators to digital-first insurers, each startup brings unique solutions to enhance customer experience, improve efficiency, and expand access to insurance products across the country. As they continue to grow and innovate, their impact on the insurance sector in India is expected to be profound, shaping the future of insurance services in the digital age.

Leave a Reply

Your email address will not be published. Required fields are marked *