InsuranceDekho raised $100M in funding round


InsuranceDekho is a Insurtech venture planning to gear up by closing a fresh funding round of $100 million.

This company is a Gurugram-based company that is a part of GirnarSoft, an IT solutions and services company that also owns CarDekho.

InsuranceDekho was founded in the year 2019. The motive behind the launch of the platform is to ease the customers to purchase of motor and health insurance. On the initial basis, they tied up with over 20 motor and health insurance issuers and later expanded into life, term, and retirement plans, and other types of insurance.

They owe a larger digital platform that permits the user to compare insurance plans and invest in the best-fitted ones. Recently, InsuranceDekho introduced a feet-on-street programme by the name of 'InsuranceDekho Saathi'. The program made buying insurance easier for those who don't have access to the internet or feel uncomfortable transacting online.

A survey bolstered its foray into offline insurance it conducted that showed that despite the depth of digital penetration in the country, offline agents continued to be the preferred and dominant channel to buy insurance.

Ankit Agrawal, CEO, and Founder of InsuranceDekho, mentioned that the startup had opened its legs into more than 1,000 Indian cities, whereas it started with just 17 cities.

In 2020, the insurtech startup got $20 million in funding from GirnarSoft, which had a motive to branding and strengthen its tech, product, and sales teams.

InsuranceDekho competes with the likes of PolicyBazaar, which went public last year, Bank Bazaar, ACKO Insurance, and Coverfox Insurance, among others.

Tags : InsuranceDekho, StartupsDekho