1.PolicyBazaar:
Founded in 2008, PolicyBazaar is one of India’s leading online insurance aggregators, providing a platform for users to compare and purchase various insurance policies, including health, life, motor, and travel insurance.
Key Innovations:
- Comprehensive Comparison: Users can compare policies from multiple insurers based on premiums, coverage, and benefits.
- AI-Driven Recommendations: Utilizes AI to recommend policies that best fit the user’s profile and needs.
- Customer Support: Offers extensive customer support for policy purchase and claims assistance.
Target Market: Individuals and families looking to buy or compare insurance policies, as well as insurance agents.
| Aspect | Details |
|---|---|
| Company Name | PolicyBazaar |
| Founded | 2008 |
| Founders | Yashish Dahiya, Alok Bansal, Avaneesh Nirjar |
| Headquarters | Gurgaon, Haryana, India |
| Industry | Insurance, Financial Technology |
| Products | Insurance policies (health, life, auto, travel, etc.), financial products |
| Business Model | Online insurance aggregator, comparison of insurance products |
| Parent Company | PB Fintech Ltd. |
| IPO | October 2021 |
| Market Capitalization | Varies, check current financial news for updates |
| Revenue | ₹3,686 crore (FY 2022-23) |
| Number of Employees | Over 7,000 (as of 2023) |
| Key Services | Insurance policy comparison, insurance advisory, financial product comparison |
| Key Competitors | Coverfox, PolicyX, BankBazaar |
| Website | policybazaar.com |
Founded in 2008, PolicyBazaar is one of the most prominent online insurance aggregators in India, offering a wide range of insurance policies. The platform focuses on transparency and customer education, helping users compare and buy insurance policies easily.
Also Read:top 10 healthtech startups in India
2.Acko General Insurance:
Founded in 2016, Acko is a digital-first insurance company offering a range of insurance products, including motor, health, and travel insurance. It operates entirely online, providing a hassle-free experience for users.
Key Innovations:
- Digital Claims Processing: Streamlined claims process through a fully digital platform, reducing the time and effort required.
- Customized Policies: Offers personalized insurance products tailored to the needs of customers.
- Integration with E-commerce: Partners with e-commerce platforms to provide insurance for gadgets and other products.
Target Market: Tech-savvy individuals looking for convenient and customized insurance solutions.
| Category | Details |
|---|---|
| Company Name | Acko General Insurance Limited |
| Founded | 2016 |
| Headquarters | Mumbai, Maharashtra, India |
| Founder | Varun Dua |
| CEO | Varun Dua |
| Type | Private |
| Industry | Insurance |
| Products | Car Insurance, Bike Insurance, Health Insurance, Travel Insurance, Mobile Insurance, Employee Health Insurance |
| Key Features | |
| Digital Platform | Completely online, user-friendly mobile app, and website |
| Claims Process | Simplified, online claims process, cashless claim settlement |
| Customer Support | 24/7 customer support, multiple communication channels (email, chat, phone) |
| Policy Customization | Customizable policies to suit individual needs |
| Awards and Recognition | Multiple awards for innovation and customer service |
| Financial Strength | Backed by prominent investors like Amazon, Accel Partners, and Catamaran Ventures |
| Contact Information | |
| Customer Support Email | hello@acko.com |
| Customer Support Phone | 1860 266 2256 |
| Website | www.acko.com |
| Social Media | |
| facebook.com/ackoinsurance | |
| twitter.com/AckoInsurance | |
| linkedin.com/company/acko-general-insurance-limited | |
| instagram.com/ackoinsurance |
Acko is a digital insurance provider known for its data-driven underwriting and innovative products, including partnerships with companies like Ola and Amazon. They offer quick claim settlements and customized policies for auto, health, and travel insurance.
Also Read:top 10 fintech startups in india
3.Digit Insurance:
| Aspect | Description |
|---|---|
| Definition | Digital insurance refers to insurance services that are delivered or managed through digital channels such as websites, mobile apps, and online platforms. |
| Accessibility | Provides easy access to insurance products and services anytime, anywhere through internet-enabled devices. |
| Convenience | Allows customers to compare, purchase, manage policies, and make claims digitally, reducing paperwork and saving time. |
| Personalization | Utilizes data analytics to offer personalized insurance solutions based on individual needs, behaviors, and preferences. |
| Customer Engagement | Enhances engagement through interactive interfaces, chatbots, and tailored communications, improving customer experience and satisfaction. |
| Cost Efficiency | Reduces operational costs for insurance providers by automating processes, optimizing distribution, and minimizing overhead expenses. |
| Innovation | Promotes innovation in product development, distribution methods, and customer service, leveraging technology advancements. |
| Data Security | Ensures robust cybersecurity measures to protect sensitive customer information and maintain regulatory compliance. |
| Integration with Insurtech | Integrates with insurtech solutions such as AI, machine learning, IoT, and blockchain to enhance risk assessment, claims processing, and customer insights. |
Launched in 2017, Digit Insurance aims to simplify the insurance process through technology. They offer various insurance products, including motor, travel, property, and health insurance.
Key Innovations:
- Simplified Documentation: Minimal documentation required for policy issuance and claims.
- Smartphone-Based Claims: Users can file claims via their smartphones using the Digit app.
- Flexible Plans: Offers customizable insurance plans to meet specific needs.
Target Market: Individuals and businesses seeking straightforward, technology-driven insurance solutions.
Established with the aim of simplifying insurance, Digit Insurance provides a range of products including motor, health, travel, and property insurance. Their technology-driven approach offers features like ‘One-Click’ claims settlement and a ‘Pay as you Drive’ policy.
Also Read:top 10 agritech startups in india
4.Coverfox:
Founded in 2013, Coverfox is an online insurance broker that provides a platform for comparing and purchasing insurance policies across different categories, including health, life, motor, and travel insurance.
Key Innovations:
- Instant Policy Issuance: Quick and easy policy issuance through the online platform.
- End-to-End Support: Comprehensive support from policy purchase to claims processing.
- Expert Advice: Provides expert advice and recommendations to help users choose the best policies.
Target Market: Individuals looking to compare and buy insurance policies online.
| Feature | Details |
|---|---|
| Company Name | Coverfox |
| Type | Online Insurance Broking Platform |
| Founded | 2013 |
| Founders | Devendra Rane, Varun Dua |
| Headquarters | Mumbai, India |
| Services | Car Insurance, Bike Insurance, Health Insurance, Term Insurance, Travel Insurance, Investment Plans |
| Website | coverfox.com |
| Key Features | Instant Quotes, Easy Comparisons, Paperless Policy Issuance, Customer Support |
| Funding | Series A, Series B, Series C rounds from various investors including SAIF Partners, Accel, Catamaran Ventures |
| Mobile App | Available on iOS and Android |
| Claim Assistance | 24/7 claim support and assistance |
| Partners | ICICI Lombard, HDFC Ergo, Bajaj Allianz, Reliance General, and more |
| Awards | “InsurTech of the Year” by Fintech Awards 2019 |
| User Reviews | Generally positive, with praise for ease of use and customer service |
Coverfox is an online insurance broking firm that allows customers to compare and purchase insurance policies from multiple insurers. Their user-friendly platform and AI-driven recommendation engine enhance the insurance buying experience.
Also Read:top 10 cleantech startups in india
5.Turtlemint:
Established in 2015, Turtlemint is an online insurance platform that helps users compare and purchase insurance policies. It also empowers insurance agents with digital tools to sell policies.
Key Innovations:
- Agent Empowerment: Provides digital tools and training for insurance agents to enhance their sales capabilities.
- User-Friendly Platform: Easy-to-use platform for comparing and purchasing insurance policies.
- Personalized Recommendations: Offers personalized policy recommendations based on user profiles.
Target Market: Consumers looking for insurance and insurance agents seeking digital solutions to enhance their business.
| Aspect | Description |
|---|---|
| Name | Turtlemint |
| Type | Insurtech startup |
| Founded | 2015 |
| Headquarters | Mumbai, India |
| Founders | Dhirendra Mahyavanshi, Anand Prabhudesai |
| Industry | Insurance |
| Services | Insurance comparison, brokerage services |
| Key Products | – Insurance policies for various categories (health, motor, travel, etc.) – Online insurance comparison platform – Personalized insurance recommendations |
| Technology | Utilizes AI and data analytics for personalized recommendations and streamlined processes |
| Funding | Raised over $50 million in funding rounds |
| Investors | Sequoia Capital, Nexus Venture Partners, Blume Ventures, others |
| Website | Turtlemint |
Turtlemint aims to simplify the insurance buying and servicing process through its online platform. It offers a wide array of insurance products and leverages AI and data analytics for personalized policy recommendations.
Also Read:top 10 insurtech startups in India
6.Toffe insurance:
Founded in 2017, Toffee Insurance offers micro-insurance products tailored for millennials, providing affordable and bite-sized insurance coverage for specific needs such as bicycle insurance, fitness insurance, and dengue insurance.
Key Innovations:
- Micro-Insurance Products: Offers niche insurance products that are affordable and easy to understand.
- Digital Onboarding: Entire process from policy purchase to claims is handled digitally.
- Millennial Focus: Tailors products to suit the lifestyle and needs of younger customers.
Target Market: Millennials and young adults looking for affordable, specific insurance solutions.
| Aspect | Details |
|---|---|
| Founded | 2017 |
| Headquarters | Gurugram, Haryana, India |
| Core Service | Digital-first insurance platform offering innovative and customized insurance solutions |
| Key Innovations | Micro-insurance products, personalized coverage, hassle-free digital claims process |
| Target Market | Millennials, Gen Z, and digital-native consumers seeking affordable and tailored insurance |
Catering primarily to millennials, Toffee Insurance offers affordable, bite-sized insurance products tailored to specific needs. They focus on simplicity and fast services, using AI and machine learning to improve customer experience.
Also Read:top 10 legaltech startups in India
7.Go Digit General Insurance:
Launched in 2017, Go Digit General Insurance aims to make insurance simple through a digital-first approach. They offer a wide range of insurance products, including motor, travel, health, and property insurance.
Key Innovations:
- Efficient Claims: Quick and hassle-free claims process with minimal paperwork.
- Technology Integration: Uses technology to simplify policy issuance and claims.
- Customer-Centric Products: Offers products designed with the customer’s needs in mind.
Target Market: Individuals and businesses looking for simple and effective insurance solutions
| Aspect | Details |
|---|---|
| Founded | 2016 |
| Headquarters | Bengaluru, India |
| Core Service | Digital insurance solutions for health, motor, travel, property, and commercial insurance |
| Key Innovations | Simplified policy management, quick claim processing, AI-driven risk assessment |
| Target Market | Individual customers, small and medium enterprises (SMEs), businesses |
Go Digit has gained popularity for its simple, user-friendly insurance products and a strong digital presence. They focus on making insurance accessible and hassle-free, with quick and efficient claims processing.
Also Read:top 10 govtech stratups in India
8.OneAssist:
Founded in 2011, OneAssist provides assistance and protection plans for electronic devices, wallets, and important documents. They offer services such as mobile protection, wallet protection, and extended warranty.
Key Innovations:
- Comprehensive Protection: Covers loss, theft, and damage of electronic devices and wallets.
- 24/7 Assistance: Provides round-the-clock assistance for emergencies like lost wallets or damaged phones.
- Extended Warranty: Offers extended warranty services for electronic appliances.
Target Market: Individuals seeking protection and assistance for their electronic devices and important documents.
| Aspect | Details |
|---|---|
| Founded | 2011 |
| Headquarters | Mumbai, India |
| Core Service | Comprehensive assistance services for various needs, including home appliances, electronics, and personal devices |
| Key Innovations | On-demand repair services, protection plans, instant customer support, digital device management |
| Target Market | Homeowners, consumers of electronics and personal devices, businesses |
OneAssist provides protection solutions for electronics, credit cards, and data security. They partner with major firms like Amazon and Yes Bank to offer comprehensive support and protection services.
Also Read:top 10 retailtech stratups in India
9.SecureNow:
Established in 2011, SecureNow is an online insurance broker that provides commercial insurance solutions to small and medium enterprises (SMEs) and individuals. They offer a range of products, including liability, property, health, and marine insurance.
Key Innovations:
- Commercial Focus: Specializes in providing insurance solutions tailored for businesses.
- Risk Management: Offers risk management services to help businesses minimize risks.
- Digital Platform: Provides a digital platform for easy policy purchase and management.
Target Market: Small and medium enterprises, as well as individuals looking for commercial insurance solutions.
| Aspect | Details |
|---|---|
| Founded | 2011 |
| Headquarters | New Delhi, India |
| Core Service | B2B insurance broking platform, offering corporate insurance solutions |
| Key Innovations | Technology-driven policy management, claims support, and risk mitigation services |
| Target Market | Small and medium-sized enterprises (SMEs), large corporations, and individual professionals |
Specializing in commercial insurance for small and medium-sized businesses, SecureNow offers a range of products including liability, marine, and group medical insurance. Their end-to-end InsurTech system streamlines policy management and claims processes.
Also Read:top 10 proptech startups in India
10.RenewBuy:
Founded in 2015, RenewBuy is an online platform that allows users to compare and purchase insurance policies. They focus on simplifying the insurance buying process and offer a range of products, including health, motor, and life insurance.
Key Innovations:
- Easy Comparison: Users can compare policies from multiple insurers to find the best option.
- AI Recommendations: Uses AI to provide personalized policy recommendations.
- Agent Network: Supports a network of insurance agents with digital tools to sell policies.
Target Market: Individuals looking to buy insurance policies online and insurance agents seeking digital support to enhance their sales.
| Aspect | Details |
|---|---|
| Founded | 2015 |
| Headquarters | Gurugram, India |
| Core Service | Online platform for comparing and purchasing insurance policies |
| Key Innovations | Easy policy comparison, AI-driven recommendations, seamless digital transactions |
| Target Market | Individuals looking to buy insurance, insurance agents, and financial advisors |
RenewBuy is an online insurance broker that enables customers to compare and renew insurance policies. Their technology platform ensures a seamless renewal process and provides personalized policy recommendations.
Also Read:top 10 foodtech stratups in India
FAQs and answers for each of the mentioned insurance-related startups
PolicyBazaar
1. What services does PolicyBazaar offer?
PolicyBazaar provides a platform for comparing and purchasing various insurance policies, including health, life, motor, and travel insurance.
2. How can I compare insurance policies on PolicyBazaar?
You can compare policies by entering your details and preferences on the website or app, and PolicyBazaar will show you a list of policies from different insurers for comparison.
3. Is it safe to buy insurance through PolicyBazaar?
Yes, PolicyBazaar ensures secure transactions and collaborates with reputable insurance companies to offer reliable products.
4. Does PolicyBazaar offer customer support?
Yes, PolicyBazaar provides extensive customer support to assist with policy purchase, queries, and claims processing.
5. Can I get personalized recommendations on PolicyBazaar?
Yes, PolicyBazaar uses AI to provide personalized policy recommendations based on your profile and needs.
Acko General Insurance
1. What is Acko General Insurance known for?
Acko is known for being a digital-first insurance company that offers a range of insurance products, including motor, health, and travel insurance.
2. How do I file a claim with Acko?
You can file a claim through Acko’s website or mobile app, where you can upload necessary documents and track your claim status.
3. Are Acko’s policies customizable?
Yes, Acko offers personalized insurance products that can be tailored to meet specific customer needs.
4. How does Acko ensure quick claims processing?
Acko uses a fully digital platform to streamline the claims process, making it faster and more efficient.
5. Can I purchase gadget insurance from Acko?
Yes, Acko partners with e-commerce platforms to offer insurance for gadgets and other products.
Digit Insurance
1. What types of insurance does Digit Insurance offer?
Digit Insurance offers motor, travel, property, and health insurance policies.
2. How do I purchase an insurance policy from Digit?
You can purchase policies directly from the Digit website or app with minimal documentation and a straightforward process.
3. How does Digit simplify the claims process?
Digit allows users to file claims via their smartphones using the Digit app, making the process quick and convenient.
4. Are Digit’s insurance plans flexible?
Yes, Digit provides customizable insurance plans that can be tailored to individual needs.
5. Is Digit Insurance reliable?
Yes, Digit Insurance is known for its customer-centric approach and efficient service, ensuring reliability and trustworthiness.
Coverfox
1. What insurance products does Coverfox offer?
Coverfox offers health, life, motor, and travel insurance policies.
2. How can I buy insurance through Coverfox?
You can compare and purchase policies on the Coverfox website or app, which provides instant policy issuance.
3. Does Coverfox provide customer support?
Yes, Coverfox offers comprehensive support from policy purchase to claims processing, including expert advice.
4. How does Coverfox help with policy comparison?
Coverfox allows you to compare policies from multiple insurers based on premiums, coverage, and benefits to find the best option.
5. Can I get expert advice on Coverfox?
Yes, Coverfox provides expert recommendations to help users choose the most suitable policies.
Turtlemint
1. What is Turtlemint’s primary service?
Turtlemint helps users compare and purchase insurance policies and empowers insurance agents with digital tools.
2. How does Turtlemint support insurance agents?
Turtlemint provides digital tools and training for insurance agents to enhance their sales capabilities.
3. Can I get personalized policy recommendations from Turtlemint?
Yes, Turtlemint offers personalized recommendations based on user profiles and needs.
4. What types of insurance does Turtlemint offer?
Turtlemint offers a range of insurance products, including health, life, motor, and travel insurance.
5. How user-friendly is Turtlemint’s platform?
Turtlemint’s platform is designed to be easy-to-use, making it simple for users to compare and purchase policies.
Toffee Insurance
1. What is unique about Toffee Insurance?
Toffee Insurance specializes in micro-insurance products that are affordable and tailored for specific needs, such as bicycle, fitness, and dengue insurance.
2. How do I buy a policy from Toffee Insurance?
You can purchase policies directly from Toffee Insurance’s website or app with a fully digital onboarding process.
3. Who is Toffee Insurance aimed at?
Toffee Insurance primarily targets millennials and young adults seeking affordable and specific insurance solutions.
4. What are micro-insurance products?
Micro-insurance products are affordable insurance plans that provide coverage for specific needs or events, making them accessible and easy to understand.
5. Is the claims process digital with Toffee Insurance?
Yes, the entire process from policy purchase to claims is handled digitally, ensuring convenience and efficiency.
Go Digit General Insurance
1. What types of insurance does Go Digit offer?
Go Digit General Insurance offers motor, travel, health, and property insurance.
2. How can I file a claim with Go Digit?
Claims can be filed through Go Digit’s website or mobile app, with a simple and hassle-free process.
3. What makes Go Digit’s products customer-centric?
Go Digit designs its products with the customer’s needs in mind, offering straightforward and effective insurance solutions.
4. How does Go Digit ensure efficient claims processing?
Go Digit uses technology to streamline the claims process, making it quick and reducing the need for extensive paperwork.
5. Can I customize my insurance plan with Go Digit?
Yes, Go Digit offers customizable insurance plans to meet specific individual or business needs.
OneAssist
1. What services does OneAssist provide?
OneAssist provides assistance and protection plans for electronic devices, wallets, and important documents.
2. How does OneAssist’s mobile protection work?
OneAssist offers coverage for loss, theft, and damage of mobile phones, along with 24/7 assistance.
3. What is wallet protection from OneAssist?
Wallet protection covers loss or theft of wallets and provides emergency assistance for lost cards and important documents.
4. Does OneAssist offer extended warranty services?
Yes, OneAssist provides extended warranty services for electronic appliances, extending the manufacturer’s warranty.
5. How can I avail OneAssist’s services?
You can subscribe to OneAssist’s services through their website or app, where you can also manage your subscriptions and claims.
SecureNow
1. What is SecureNow’s primary focus?
SecureNow specializes in providing commercial insurance solutions to small and medium enterprises (SMEs) and individuals.
2. What types of insurance does SecureNow offer?
SecureNow offers a range of products, including liability, property, health, and marine insurance.
3. How does SecureNow help businesses with risk management?
SecureNow offers risk management services to help businesses identify and minimize potential risks.
4. Can I buy insurance online from SecureNow?
Yes, SecureNow provides a digital platform for easy policy purchase and management.
5. Who is SecureNow’s target market?
SecureNow primarily targets SMEs and individuals looking for commercial insurance solutions.
RenewBuy
1. What does RenewBuy offer?
RenewBuy is an online platform for comparing and purchasing insurance policies, including health, motor, and life insurance.
2. How can I compare policies on RenewBuy?
You can compare policies by entering your details and preferences on the RenewBuy website or app, which shows policies from multiple insurers.
3. Does RenewBuy use AI for recommendations?
Yes, RenewBuy uses AI to provide personalized policy recommendations based on your profile and needs.
4. How does RenewBuy support insurance agents?
RenewBuy supports a network of insurance agents with digital tools to help them sell policies more effectively.
5. Is it safe to purchase insurance through RenewBuy?
Yes, RenewBuy ensures secure transactions and partners with reputable insurance companies to offer reliable products.
These FAQs and answers provide a comprehensive overview of the key aspects of each startup, addressing common questions and concerns.
Also Read:
top 10 healthtech startups in India
top 10 fintech startups in inida
top 10 agritech startups in india
top 10 cleantech startups in india
top 10 insurtech startups in India
top 10 legaltech startups in India
top 10 govtech stratups in India
top 10 retailtech stratups in India
