About InsurTech sector in India
The InsurTech sector in India comprises 738 companies, including 199 funded companies having collectively raised $4.44B in venture capital money and private equity. Out of these, 71 are Series A+ funded, and 5 have achieved unicorn status.
InsurTech sector in India has seen 23 acquisitions and 4 IPOs.
This sector includes companies offering tech-enabled insurance services and IT infrastructure and software solutions for offering and managing insurance services.
InsurTech sector is also known as Insurance Tech, InsureTech or Insurance IT.
Companies offering tech solutions for customers to purchase and manage their insurance and also software products and data solutions primarily for the insurance industry are included in this sector. Companies offering traditional insurance services like Traditional Insurers, Insurance BPOs, Insurance Distributors, etc are excluded.
Top InsurTech Companies in India
There are 738 InsurTech startups in India which include ACKO, Digit Insurance, OneAssist, Policybazaar, Servify. Out of these, 199 startups are funded, with 71 having secured Series A+ funding, and 5 achieving unicorn status.
2026 has seen the creation of 1 InsurTech startup in India. Over the past 10 years, an average of 39 new companies have been launched annually. Notably, several of these startups have been founded by alumni of IIM Calcutta, IIT Bombay and IIT Delhi.
Here is the list of top InsurTech startups in India
1. ACKO
Provider of car, bike, health, life, and travel insurance policies. It offers various insurance options, including motor, health, life, and travel coverage. The company provides services such as policy renewals, claims filing, and tracking. Additional offerings include car services, used car sales, and facilitating ABHA card creation.
Key facts about ACKO
- Founded Year: 2016
- Location: Bengaluru (India)
- Stage: Series E
- Total Funding till date: $598M
- Investors: Multiples Alternate Asset Management, Ventureast and 48 Others
- Latest Funding Round: Series E, Jul 30, 2025, $*****
- Tracxn Score: 85/100 What is this?
- Competitors Rank: 1 of 98 Competitors
Provider of general and life insurance products across various categories. It offers car, bike, health, property, travel, and business insurance, alongside term life, savings, retirement, and group life insurance plans. The company facilitates claims processing, policy renewals, and provides resources such as calculators, guides, and transparency reports. It also offers opportunities to become an agent for its insurance products.
Key facts about Digit Insurance
- Founded Year: 2016
- Location: Bengaluru (India)
- Stage: Public
- Total Funding till date: $462M
- Investors: Faering Capital, A91 Partners and 35 Others
- Latest Funding Round: Series D, May 04, 2022, $*****
- Tracxn Score: 85/100 What is this?
- Competitors Rank: 2 of 70 Competitors
3. OneAssist
Provider of protection plans and repair services for gadgets and appliances. It offers protection against accidental and liquid damage, extended warranties, and card fraud protection. Its appliance repair services include air conditioning, television, washing machine, refrigerator, water purifier, and geyser repairs. The company also provides wallet protection and emergency travel assistance.
Key facts about OneAssist
- Founded Year: 2011
- Location: Mumbai (India)
- Stage: Series E
- Total Funding till date: $75.9M
- Investors: Peak XV Partners, Lightspeed Venture Partners and 8 Others
- Latest Funding Round: Series E, Sep 10, 2025, $*****
- Tracxn Score: 78/100 What is this?
- Competitors Rank: 1 of 20 Competitors
4. Policybazaar
Online platform for insurance buyers, offering a wide range of life insurance and general insurance plans. It is an online insurance platform that provides users with a marketplace to compare and purchase various types of insurance products including life, health, travel, and car insurance. The platform offers a range of features such as policy comparison, online quotes, and policy renewal, aiming to provide users with a seamless and user-friendly experience.
Key facts about Policybazaar
- Founded Year: 2008
- Location: Gurugram (India)
- Stage: Late Stage
- Investors: Burman Family, 108 Capital and 8 Others
- Latest Funding Round: Post IPO, Oct 14, 2017, $*****
- Tracxn Score: 77/100 What is this?
- Competitors Rank: 1 of 159 Competitors
5. Servify
Servify is a global product lifecycle management company that focuses on designing as well as administering custom product protection programs and exchange/upgrade programs for OEMs, telcos and retailers. Brands overwhelmingly select Servify as partner for their speed, flexibility, innovative product development, technology, compliance and underwriting expertise, and its ability to drive revenue and retention through a relentless customer focus.
Key facts about Servify
- Founded Year: 2015
- Location: Mumbai (India)
- Stage: Series D
- Total Funding till date: $173M
- Investors: Iron Pillar, Beenext and 59 Others
- Latest Funding Round: Series D, Dec 11, 2025, $*****
- Tracxn Score: 74/100 What is this?
- Competitors Rank: 2 of 23 Competitors
Companies founded year-on-year in the InsurTech sector in India
1 new startup has been founded so far in 2026 in the InsurTech sector in India. 63 InsurTech startups in India were founded in 2020 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | 1 |
2025 | 20 |
2024 | 32 |
2023 | 34 |
2022 | 40 |
2021 | 49 |
2020 | 63 |
2019 | 63 |
2018 | 40 |
2017 | 51 |
Stage-wise distribution of InsurTech sector companies in India
Out of the total 738 InsurTech companies in India, 199 have secured funding. Among them, 71 have reached Series A or higher, and 49 to Series B or beyond.
Founded - 738
Funded - 199
Series A+ - 71
Series B+ - 49
Series C+ - 38
Company Stage | No. of companies |
|---|---|
Founded | 738 |
Funded | 199 |
Series A+ | 71 |
Series B+ | 49 |
Series C+ | 38 |
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Funding Trends in the InsurTech sector in India
Total funding year-on-year in the InsurTech sector in India
The InsurTech sector in India saw a total funding of more than $4.09B in the last 10 years. The most amount of funding was in 2021 at more than $831M. There has been a total funding of $28.5M in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $28.5M |
2025 | $258M |
2024 | $246M |
2023 | $604M |
2022 | $610M |
2021 | $831M |
2020 | $757M |
2019 | $368M |
2018 | $167M |
2017 | $220M |
Recent Funding Rounds in InsurTech in India
In the year 2026, till March 2026, InsurTech companies in India have raised $25.5M in equity funding across 3 rounds.
In the same period last year (i.e. till March 2025), InsurTech companies in India had raised $154M across 11 rounds.
So, 2026 has seen a 83.39% drop in funding in InsurTech companies in India as compared to 2025.
Here are some recent, important funding rounds in InsurTech companies in India:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series B | 3601 | Mar 16, 2026 | ||
Series A | 2631 | Feb 11, 2026 | and 3 more | |
PE | 3527 | Jan 09, 2026 | ||
Series D | 8269 | Dec 11, 2025 | and 1 more | |
Series C | 2109 | Dec 04, 2025 |
Top Investors in InsurTech in India
Bessemer Venture Partners is the top investor in InsurTech companies in India based on number of companies invested.
Here are some top investors in InsurTech companies in India:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Redwood City (United States) | ||
Cambridge (United States) | ||
Palo Alto (United States) | ||
Menlo Park (United States) | ||
Bengaluru (India) |
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M&A activity in InsurTech sector in India
In the year 2025, till April 2025, 2 acquisitions happened in InsurTech sector in India. Last year, in 2024, a total of 2 acquisitions happened in InsurTech sector in India.
Here are some recent, important acquisitions in InsurTech sector in India:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Apr 22, 2025 | ||
Business Acquisition | Feb 04, 2025 | ||
Business Acquisition | Jul 10, 2024 | ||
Business Acquisition | Apr 19, 2024 | ||
Business Acquisition | Apr 05, 2023 |
Acquisition trends in InsurTech sector in India
Here are the acquisition trends in InsurTech sector in India:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | 2 |
2024 | 2 |
2023 | 3 |
2022 | 2 |
2021 | 3 |
2020 | 3 |
2019 | 3 |
2018 | 3 |
2017 | 1 |
IPOs in InsurTech in India
In the year 2024, till May 2024, 2 IPOs happened in InsurTech sector in India.
Here are some recent, important IPOs in InsurTech sector in India:
Company | IPO Date | Exchange Symbol |
|---|---|---|
May 23, 2024 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) | |
Jan 23, 2024 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) | |
Nov 15, 2021 | Bombay Stock Exchange (BSE), National Stock Exchange (NSE) | |
Dec 14, 2007 | National Stock Exchange (NSE) |
Colleges which produce the most InsurTech companies in India
Companies founded by alumni from top colleges in the InsurTech in India
Most number of InsurTech startups in India have been founded by alumni from IIM Calcutta, IIT Bombay and IIT Delhi.
College | No. of companies |
|---|---|
IIM Calcutta | 22 |
IIT Bombay | 17 |
IIT Delhi | 12 |
IIM Bangalore | 10 |
Indian School of Business | 10 |
IIM Ahmedabad | 9 |
BITS Pilani | 7 |
IIT Kanpur | 7 |
IIT Roorkee | 7 |
Harvard Business School | 5 |
Total funding in InsurTech companies founded by alumni from top colleges in India
In the last 10 years, IIT Delhi graduates' InsurTech companies in India have raised the most funding among top colleges. IIM Calcutta alumni are second, and IIM Ahmedabad alumni are third.
College | Total Funding |
|---|---|
IIT Delhi | $1.04B |
IIM Calcutta | $915M |
IIM Ahmedabad | $590M |
Faculty of Management Studies | $464M |
BIT Mesra | $451M |
BITS Mesra | $451M |
INSEAD | $451M |
IIT Kanpur | $386M |
IIT Bombay | $314M |
IIT Kharagpur | $274M |
Top News in InsurTech in India
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Navi UPI Becomes Official Payments Partner of Royal Challengers BengaluruBusiness News This Week•Mar 26, 2026•RCB, Navi
•
Business Zopper Launches ZENOVA, India’s First Agentic Bancassurance Operating LayerOnline Media Cafe•Mar 26, 2026•Zopper
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Ageas Federal Life Insurance Unveils its New Brand IdentityMedia Bulletins•Dec 10, 2025•Ageas Federal
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ManipalCigna introduces “Sarvah”- a comprehensive & affordable health insurance solution, strengthening its commitment to RajasthanManipalCigna Health Insurance•Oct 08, 2025•ManipalCigna Health Insurance
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Zopper launches two-year iPhone 17 care plan with damage protectionTech Observer Magazine•Sep 17, 2025•Zopper
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Tesla may take China route for car insurance plan due to India's data rulesMoneycontrol•Jul 23, 2025•Tesla, ACKO, Zurich Kotak, Liberty Mutual
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LC Nueva-backed BimaPay plans fresh fundraise, aims to nearly triple AUMVCCircle•Jul 22, 2025•BimaPay
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Khosla Ventures-backed Even Healthcare Targets Fresh FundingVCCircle•Jul 03, 2025•Even, Khosla Ventures
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