Regardless of who you are and where you live, protecting your assets, home, and loved ones is a primary concern. We live in an uncertain world and we all want to safeguard ourselves and our families from untoward incidents. Enrolling in health, auto, life or other insurance types gives peace of mind. But anyone who has tried buying them knows that it is not easy to navigate through the complicated features and coverage options and understand the fine print. Thankfully, there are Insuretech companies that are made in India to help with insurance products. These are homegrown tech companies with a great knowledge of the insurance domain and the needs of the locals. They leverage technology to tailor plans based on customer needs and provide a . Read below to know the top 10 best fintech insurance/InsureTech companies in India.
List Of Top 10 Best Fintech Insurance/InsureTech Companies In India
Indian Insuretech companies are revolutionizing the way the insurance industry works. Using AI, data analytics, blockchain and other advanced technologies, these companies are providing insurance solutions that change the way customers and carriers get coverage. They have created customer-friendly, efficient and affordable solutions with a focus on streamlining the journey from enquiry to enrolment. Take a look at the top fintech companies in India offering insurance products that are making all insurance types more accessible.
- Digit Insurance
It is an Insurtech company that makes insurance simple. It is one of the top fintech insurance companies in India that can manage premium payments, buy or renew a policy and make claims instantly using various channels. Plus there is no paperwork needed. It offers value for money by providing affordable premiums and follows a customer-centric approach. Digit Insurance uses advanced technology and tech-enabled processes that are quick to offer a range of services. It provides instant quotes, check premium and access policy documents anytime. They offer seamless customer support and superfast claims through their app, website and call centres.
Founder And History
Sriram Shankar, Kamlesh Goyal, Vijay Kumar and Philip Varghese are the founders of Digit Insurance. The company was founded in 2016 with the intention of making the experience of buying insurance more pleasant. Before its inception, understanding and buying insurance was complicated and cumbersome, Digit believed that it could change this and make it and make Insurance Simple. With that mission, they reimagined the products and redesigned the processes going back to the basics.
Headquarters
Bengaluru, Karnataka
Website
Services
- Buy or Renew Insurance
- Pay Premiums
- Make Claims
- Become an Agent
Types of Insurance
- Health
- Car
- Commercial
- Bike
- Travel
App Link
- App Store: https://apps.apple.com/in/app/digit/id1453841964
- Play Store: https://play.google.com/store/apps/details?id=com.godigit.digit&hl=en
Online Presence
Youtube Link
- Acko General Insurance
It is one of the best fintech insurance products by Indian companies that is completely digital and offers a wide range of services and products. The company is popular for following a customer-centric approach and most of the operations can be done online reducing paperwork. It uses the latest technology to understand the needs of the customers and caters to them accordingly. It has partnered with many reputed firms and is a great choice for those looking for value-for-money services and products. They intend to use the latest tech and data to improve their insurance tech.
Founder And History
The company was founded by Varun Dua in 2016. Started in 2016, it is now one of the fastest-growing insurtech companies in India. In a span of a few years, using insurance technology, most of the paperwork associated with it is gone and everything went online. The company started with a team of 6 and has increased steadily to more than 400 employees.
Headquarters
Mumbai, Maharashtra
Website
Services
- Buy or Renew Insurance of all types
- Pay Premiums
- Make and Track Claims
- Available on many popular apps
Types of Insurance
- Health
- Car
- Bike
- Travel
- Corporate Coverage
- Electronics
App Link
- App Store: https://apps.apple.com/IN/app/id1621244359?mt=8
- Play Store: https://play.google.com/store/apps/details?id=com.acko.android&referrer=af_tranid%3Dyv6Vd0ZOjt6eAMKu2kNfvw%26c%3DWebsite%20Footer%20Google%26pid%3DWebsite%20Footer
Online Presence
- https://www.facebook.com/ackoindia/
- https://www.instagram.com/ackoindia/
Youtube Link
- Probus Insurance
It is one of the top financial technology companies in India with insurance policies online. It offers a digital insurance exchange platform with the best insurance plans at affordable prices. It allows you to compare and buy insurance policies from leading brands and is one of the most trusted online insurance hubs with more than 1200 insurance plans. The company uses top-notch processes and the latest technologies to customise systems for analysis and auditing. The company has a team of proficient underwriters and risk engineers who use their expertise to understand the business and its risks. They have an excellent after-sales team to answer queries.
Founder And History
Rakesh Goyal is the founder of Probus Insurance which started operations in 2011. The company was started in a small rented place with Rs 50 lakh as an investment. The founder then raised capital by offering majority stakes to Bonanza Portfolio which was an early investor. From a team of 12 employees, the company sold policies on commission and then in 2016, it started selling online. Since then the company registered incremental growth and the company now has a pan-India presence with 10 offices across the country.
Headquarters
Gurgaon, Haryana
Website
Services
- Buy or Renew Insurance of all types
- Claim Assistance
- Compare Plans
- Pay Premiums
- Make and Track Claims
- Premium Calculator
- Expert Advice
- Become a POSp (point of sales person)
- Insurance Endorsement
Types Of Insurance
- Family and Individual Health
- Vehicle
- Travel
- Corporate Coverage
- Investment plans
- Property Insurance
- Liability insurance
- Rural Insurance
- Miscellaneous insurance
App Link
- App Store: NA
- Play Store: https://play.google.com/store/apps/details?id=in.probusinsurance.app&hl=en_IN
Online Presence
- https://www.facebook.com/probusinsurance/
- https://www.linkedin.com/company/probusinsurance/
Youtube Link
NA
- PolicyBazaar
PolicyBazzar is one of the fastest-growing fintech companies in India in the insurance field. It is an online aggregator which helps users with many financial services including insurance. It partners with insurance brokers and gets insurance information from the insurers. It helps to compare policies based on benefits, price and quality across products like motor, medical, life, and term insurance. Apart from offering quotes for insurance products, it also provides policy renewal and claims processing. The USP of this fintech is the simple buying experience which enables users to make informed choices. The solution offers many policies and plans based on the user requirements.
Founder And History
The company was founded by Yashish Dahiya in 2008. The company was started with the objective of creating transparency and also reimagining insurance. They started by simplifying information and also ending the misselling of policies. It started by listing out details of insurance policies and later started price comparison. It expanded to become a digital marketplace for insurance policies. It soon launched an app for iOS and Android users and is now one of the biggest insurance aggregators and one of the top Insurtech companies of Indian origin.
Headquarters
Gurgaon, Haryana
Website
Services
- Comparison of policies
- Various insurance products
- Low Price ULIPs
- Pay Premiums and Renewals
- Analyze various products
Types Of Insurance
- Term Insurance
- Motor Insurance
- Health Insurance
- Business Insurance
- General Insurance
- Travel Insurance
App Link
- App Store: https://play.google.com/store/apps/details?id=com.policybazaar&hl=en-GB&pli=1&shortlink=websitemain&c=mainwebsite&pid=pb_website_main&source_caller=ui
- Play Store: https://play.google.com/store/apps/details?id=com.policybazaar&hl=en-GB&pli=1&shortlink=websitemain&c=mainwebsite&pid=pb_website_main&source_caller=ui
Online Presence
- https://www.facebook.com/Policybazaar
- https://www.linkedin.com/company/policybazaar/
Youtube Link
NA
- Coverfox
It is one of the top-ranked insurance technology companies in India that sells various products including automobiles, travel, medical and others. Some of the main features of this platform are instant quotations, smooth post-purchase and easy renewal. It also provides digitized policy updates and a quick claims process. At a time when security and data privacy are valued, Coverfox offers safe transactions along with data security that ensures customers purchase and renew plans securely and conveniently. easily and understandably for all insurance-related things with a reliable algorithm that provides policy documents easily.
Founder And History
The founders of Coverfox are Varun Dua and Devendra Rana The company started operations in 2013 and offered various insurance products to users across many categories. Subsequently, it started using fintech solutions to create its insurance platform based on algorithms which allow customers to compare and choose plans. They also worked on integrating policy issues, endorsements, clams and inspections to make pre and post-sales easy. They also offer digital assistance to their insurance agents using a solution called Coverdrive.
Headquarters
Mumbai, Maharashtra
Website
Services
- Comparison of policies
- Buying Insurance
- Managing Insurance
- Claim Settlements
Types of Insurance
- Car
- Bike
- Health
- Term
App Link
- App Store: NA
- Play Store: https://play.google.com/store/search?q=coverfox&c=apps
Online Presence
- https://www.facebook.com/Coverfox.Insurance/
- https://www.linkedin.com/company/coverfox-insurance/
Youtube Link
- TurtleMint
Tutrlemint is one of the best Indian fintechs dealing in insurance coverage that acts as a digital insurance aggregator. It makes the purchase of insurance easy by demystifying it and explaining the jargon in an easy and understandable way. It provides smart tools to compare and make the right decisions. From instant quotes to purchasing the best insurance coverage, the entire process can be done online with minimal paperwork. The company also has insurance advisors to help customers with claims and purchases. Apart from giving tailored recommendations, it also provides agents with digitized solutions for licencing, verification and training processes.
Founder And History
It started operations in 2015 as an Insurtech platform and was founded by Dhirendra Mahyavanshi and Anand Prabhudesai. The company was started with a mission to create complete transparency in buying insurance. The main focus of the company was and is to make insurance buying simple. To do that they used digital tools to tackle challenges and efficiently scale their operations. Using a simple app they provide many products and recommendations to make it one of the biggest Insurtech companies in India, offering a wide range of essential insurance products that are fully digital and future-ready.
Headquarters
Mumbai, Maharashtra
Website
Services
- Comparison of policies
- Digitized recommendations
- Claim Settlements
- Become a POSp.
Types Of Insurance
- Car
- Bike
- Health
- Life
App Link
- App Store: NA
- Play Store: https://play.google.com/store/search?q=turtlemint&c=apps
Online Presence
- https://www.facebook.com/Coverfox.Insurance/
- https://www.instagram.com/turtlemint.insurance/
Youtube Link
- InsuranceDekho
It is one of India’s top fintech companies in the insurance sector which uses the latest technology and digital platforms to compare and buy insurance products across many categories like health, car, life, etc. It is an online insurance marketplace where it aggregates and presents various insurance products in one place. It streamlines the process of buying, as well as claiming the policies thereby making it more convenient and effective for users. It uses the latest algorithms and data analytics to assess risks and thus provides personalized offerings at affordable prices based on customer needs.
Founder And History
It was founded by Ankit Agarwal and Naveen Bardia in 2017. The company was created with the focus of designing a digital platform that simplifies buying insurance policies in India. In the early years, they built a platform that was user-friendly and allowed comparison of various insurance policies. They later expanded and integrated advanced technology into their platform to create personalized policy recommendations and improved customer support through chatbots. They aim to stay ahead of the curve and plan to adapt to changing trends.
Headquarters
Gurgaon, Haryana
Website
Services
- Comparison of policies
- Digitized recommendations
- Buy or renew policies
- Track policies
- Claim Settlements
- Become a POSp agent
- Insurance Advisors
Types Of Insurance
- Car
- Bike
- Health
- Life
- Term
- Investment
- Business
- Pet
- Travel
App Link
- App Store: NA
- Play Store: NA
Online Presence
- https://www.facebook.com/insurancedekhoofficial
- https://www.instagram.com/insurancedekhoofficial/
Youtube Link
- RenewBuy
RenewBuy is one of the best fintech insurance companies in india that provides a range of insurance products including life, home, car, claims management and more. It is one of the fastest and the best ways to compare and buy insurance products. The online digital platform provides all the information needed on the products in an accessible and simplified manner making life easy for the customers. It also offers expert advice that is based on personalized requirements. They also have a separate proprietary technology portal for the POS partners to provide effective advice to their customers. It acts like a digital agent and provides instant quotes at low prices.
Founder And History
RenewBuy was founded by Balachander Sekar and Indraneel Chatterjee in 2015. It was created to provide an online aggregator platform for insurance to offer a smooth, transparent and simple process to buy or renew insurance policies. A proproetary technology was created to search hundred of policy types and price ranges from many top companies to help users pick the best that is currently in the market.
Headquarters
Gurgaon, Haryana
Website
Services
- Claims Assistance
- Get Instant Quotes
- Expert Advice
- Buy Insurance products
- One-click Renewal
- Become a POSp agent
Types Of Insurance
- Health
- Life
- Motor
App Link
- App Store: https://apps.apple.com/in/app/renewbuy-partners/id1087315070
- Play Store: https://play.google.com/store/apps/details?id=com.renewbuy.partners
Online Presence
- https://www.facebook.com/RenewBuy/
- https://www.instagram.com/renewbuyofficial/
Youtube Link
- SecureNow
It is a tech-focused insurance broking firm that sells individual and commercial insurance and is one of the best Indian top ten insurance fintech companies. You also get access to cutting-edge technology, access to high-quality advice and dedicated claims support for individuals. The digital platform also provides comparison features, buy policies, raise claims, etc. It is an insurance broking company that provides commercial insurance to small and medium-sized companies by bridging the gap by providing insurance that would otherwise not be accessible.
Founder And History
Kapil Mehta is the founder of SecureNow and it started operations in 2011. It is a company that was started to provide fair options to its customers and also provide good claims support. In recognition of its services, it was awarded the top three Asian brokers in 2015, 2016, and 2020. It has won many awards and recognition for its tech innovations making it one of the most sought-after insurtech companies in India.
Headquarters
Delhi, India
Website
Services
- Single Servicing Contact
- Multiple Quotes
- Dedicated claims helpline
- Claims Advisory
- Buy Insurance products
- Claims complete documentation
Types Of Insurance
- Group Insurance
- Commercial Insurance
- Individual Insurance
- Profession Insurance
App Link
- App Store: NA
- Play Store: https://play.google.com/store/apps/details?id=app.securenow.twa&hl=en_US
Online Presence
- https://www.linkedin.com/company/securenow-insurance-broker
- https://twitter.com/i/flow/login?redirect_after_login=%2FSecureNowIndia
Youtube Link
- Toffee Insurance
It is one of the top 10 fintech startups of India, in the insurance sector that offers a wide range of services and products to its customers. It is one of the biggest micro-insurance companies that offers coverage for new world products like EVs, cycles, Pet insurance, etc. The company is a trailblazer and offers innovative products with lightning-fast service, transparency and easy availability. Toffee Insurance uses AI, machine learning and other advanced tools to collect data and use them to empower customers. The company USP is developing insurance covers for modern lifestyle requirements like damages or losses to bicycles, injuries at the gym or daily commute, etc.
Founder And History
The company was founded in 2017 by Nishant Jain and Rohan Kumar. It was started when the founders realised the need for curated insurance policies based on the needs of the customers. The main focus was millennials who needed insurance policies that cover their lifestyle requirements. For this, they used advanced technologies to gather and analyse data to provide services.
Headquarters
Gurgaon, Haryana
Website
Services
- Buying Insurance
- Making claims
Types Of Insurance
- Group Health and Life Insurance
- Mobile Insurance
- Pet-DogInsurance
- 2 & 4 Wheeler Insurance
- Travel Insurance
- Eyewear Insurance
App Link
- App Store: NA
- Play Store: https://play.google.com/store/apps/details?id=com.toffeeinsurance.agent
Online Presence
- https://www.facebook.com/toffeeinsurance/
- https://www.instagram.com/toffeeinsurance/
Youtube Link
Conclusion
The above is the list of top fintech companies in India in the Insurtech sector that are leading innovations. They offer numerous benefits to the customers as well as insurance companies. For starters, they provide automatic claims processing and customer support to reduce operational costs while enhancing customer satisfaction. Plus it also reduces insurance fraud, increases retention rates and enables better business decisions.