Indias InsuranceDekho raises $150 million despite market slump

News Summary

  • Investcorp, Avataar Ventures and LeapFrog Investments also participated in the round.InsuranceDekho works most insurance providers in the country and has direct integration with nearly four-dozen firms through which it offers nearly 400 insurance products.
  • InsuranceDekho is aiming to disburse total premiums worth over $240 million by March, he said.“We need to go beyond the urban regions when it comes to insurance penetration in the country.
  • Even as InsuranceDekho is not a household name in urban Indian cities, Agrawal said the startup is selling more than 80% of all its coverage in smaller Indian cities.
  • In an interview with TechCrunch, InsuranceDekho executives declined to comment on the startup’s valuation, but said they were in the “soonicorn” club.
  • Agrawal defended that the larger India is currently not ready to download an app and buy an insurance product.
  • They need awareness of its benefits and someone to whom they can ask questions, he said.
The Indian insurance platform InsuranceDekho has raised $150 million in a Series A funding round as the more than a decade old firm eyes merger and acquisition opportunities at a time when the market [+4025 chars]