In a significant milestone for the Indian insurance market, InsuranceDekho, a leading insurtech platform under the CarDekho Group, successfully raised $70 million in a funding round. This round was co-led by Beams Fintech Fund, Mitsubishi UFJ Financial Group (MUFG), and BNP Paribas Cardif’s insurtech fund managed by Eurazeo. Founded in 2017 by Ankit Agrawal, InsuranceDekho has established itself as a formidable player in the industry, currently serving over 10.2 million customers across India. With its commitment to innovation, the company issues 21 new policies every minute, reflecting its robust growth and expansive reach. The platform offers an impressive 720 insurance products covering motor, health, life, and corporate categories, delivered through a vast network of 220,000 partners in collaboration with 49 insurance companies.
Unleashing Potential with New Capital
The freshly secured $70 million will play a crucial role in propelling InsuranceDekho’s future ambitions. These funds are earmarked for bolstering the company’s technological offerings, expanding its reach, and solidifying its position as the leading insurance platform in India. The ongoing investments emphasize the significant growth potential within the underpenetrated Indian insurance market. Data underscores this potential, with life insurance premiums growing by 6.06% in FY24, even as insurance penetration decreased to 3.7% of GDP from 4% in FY23. Such figures indicate an untapped market ripe for innovation and growth. The confidence shown by Beams Fintech Fund, which has invested over Rs 300 crore since 2025 focusing on fintech, financial services, and B2B SaaS companies, in InsuranceDekho reflects the platform’s promising future. Managing an AUM of Rs 900 crore, Beams recognizes the opportunity to shape the insurance distribution landscape in India through tech-driven solutions.
Strategic Endeavors and Future Prospects
InsuranceDekho merges extensive distribution networks with advanced technology to deliver all-inclusive insurance solutions. Their latest investment will bolster the company’s quest to integrate more advanced, tech-driven offerings by utilizing artificial intelligence and data analytics to enhance customer experiences. Through collaboration with 49 insurance companies, they provide a broad range of products tailored to diverse customer needs. As they scale operations, InsuranceDekho aims to penetrate untapped market segments, offering insurance solutions to underserved areas. Their digital-first approach aligns well with India’s expanding digital economy, positioning the company to leverage emerging trends.
Looking forward, InsuranceDekho remains committed to innovative, accessible insurance products. Their expansion plans are fueled by cutting-edge technology to streamline processes and enhance efficiency. Drawing on robust networks and advanced tech, they seek to redefine India’s insurance landscape, establish new standards, and promote growth. The recent successful funding round marks a significant milestone, heralding promising developments for both the company and the Indian insurance industry.
