Insurtech Startups News Today

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

From two startups protecting against hackers to a small business insurer using AI to process applications quickly, six insurtech businesses made our Fintech 50.

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 Regulatory and Development Authority of India (IRDAI) move of opening the heavily regulated sector to new participants.

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 Zopper, Riskcovry, and OneAssure to power such sales.

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.

Under new chairman Debasish Panda, the regulator is engaging with the industry more than ever and looking to get the sector charged up.

We sit down with Pankaj Vashishtha, Co-Founder & CEO, Policy Ensure to talk about how they are leveraging technology and insurance adoption., Technology & Science News, Times Now

Kickstart supports partners in identifying key topics and opportunities for open innovation.

Kickstart supports partners in identifying key topics and opportunities for open innovation.

The Policybazaar SMS ad, circulated in March 2020, was deemed by IRDAI as “having potential to cause avoidable panic among customers”.