InsuranceDekho

What InsuranceDekho does

InsuranceDekho is an Indian insurtech aggregator and IRDAI-licensed composite broker (License 588, operating as Girnar Insurance Brokers Private Limited) founded in 2016 within the CarDekho Group ecosystem. The company runs a digital insurance comparison and purchase platform covering motor (car and bike), health, life, term, investment, corporate, and travel insurance, integrated with 49 insurance company partners. The platform serves Indian retail consumers directly via its website and mobile app and through a B2B2C POSP (Point of Sales Person) agent network of more than 220,000 agents covering 99% of India's pin codes, with 86% of agents based in Tier 2/3 cities.

The platform is built on an AI-driven technology stack including a recommendation engine for personalized product matching, automated onboarding that issues eligible policies in approximately 5 minutes, real-time claims management, predictive analytics for underwriting and fraud detection, and generative AI-powered vernacular chatbots. InsuranceDekho has launched Heph, a SaaS platform extending distribution tools to third-party agents and small brokerages, and acquired SeedsAI (December 2025) to integrate LLM orchestration for underwriting, claims, and customer experience automation. The company also acquired Verak (April 2023) to enter the SME insurance segment with a stated target of 1 million insured businesses by 2027.

Revenue is generated primarily through commissions from insurance carriers on policies sold (transaction fees across motor, health, term, and life lines), supplemented by SaaS subscription revenue via Heph and AI integration services developed through the SeedsAI acquisition. The company reported Rs 96.5 crore in FY23 operating revenue and approximately Rs 167 crore in FY25 (73.5% growth), with an FY24 PAT of INR 85.71 crore flipping to an FY25 net loss of INR 47.49 crore amid strategic reinvestment. Total funding raised is approximately $358 million across multiple rounds led by Goldman Sachs, MUFG, BNP Paribas Cardif, Beams Fintech Fund, and TVS Capital. InsuranceDekho is currently merging with RenewBuy (CCI-approved November 2025) into Artivatic Data Labs, creating one of India's largest technology-driven insurance marketplaces with a combined premium book of approximately Rs 6,000 crore, while its parent has initiated plans for a Mumbai IPO of up to $250 million.

Name

InsuranceDekho

Legal name

Girnar Insurance Brokers Private Limited

Website

https://www.insurancedekho.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

InsuranceDekho is an Indian insurtech aggregator operating a digital insurance comparison and purchase platform integrated with 49 insurer partners and a 220,000+ POSP agent network, serving retail consumers and SMEs across India's Tier 2/3 markets.

Ownership category

akta.pro rank

Product category

Insurance Brokerage and Aggregation

NAICS

Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242), Other Insurance Related Activities (52429)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331), Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Insurtech-Enabled Brokerage (Digital Brokers & Aggregators) (FSAEADAN)

akta.pro secondary industries

Data, Analytics & AI for Insurance (Risk, Pricing, Personalization) (FSAGAGAE), Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)

Keywords

• Insurance aggregator
• Insurance comparison
• Motor insurance
• Health insurance
• Life insurance

Headquarters

HQ city

Haryana

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Marketing or Sales, Technology or R&D, Operations, Infrastructure

Revenue model

1. Insurance Commission: InsuranceDekho earns commissions from insurance companies (life, health, motor insurers) for each policy sold through its platform. Commission rates vary by product type (motor, health, term, life insurance). The company is a composite insurance broker licensed by IRDAI, earning commissions on both new policies and renewals.
2. SaaS and Technology Services: Revenue generated through the Heph SaaS platform, which provides insurance distribution technology to third-party agents and partners.
3. AI/Technology Integration Services: Revenue from AI-powered underwriting, claims, and customer experience tools developed through the SeedsAI acquisition, offered to insurance partners.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

InsuranceDekho operates an online insurance aggregation and brokerage platform that enables consumers and businesses to compare, purchase, and renew insurance policies from 49 partner insurers across health, motor (car and bike), life, term, investment, travel, and corporate insurance categories. The platform is delivered through a direct-to-consumer website and mobile app, a 220,000+ POSP agent network, and a SaaS distribution platform (Heph).

Product overview

InsuranceDekho is an insurtech aggregator and composite insurance broker (IRDAI License 588) operating as a platform with multiple product lines. The core offering is a B2C insurance comparison and purchase platform for health, motor (car/bike), life, term, investment, corporate, and travel insurance, integrated with 49+ insurance company partners. The business model extends through a B2B2C POSP (Point of Sales Person) agent network platform enabling over 220,000 agents to sell insurance products, supported by the Heph SaaS platform for distributor management. The company has acquired Verak (SME insurance) and SeedsAI (AI underwriting) to expand capabilities. Recent merger with RenewBuy under Artivatic Data Labs creates one of India's largest technology-driven insurance marketplaces with combined premium book of approximately Rs 6,000 crore.

Differentiator

Problem solved

Functional benefit

Brands

• Heph: SaaS platform for insurance distribution launched in 2024
• GAIN

Products and services

• InsuranceDekho Online Insurance Comparison Platform Core online aggregator platform enabling customers to compare, buy, and renew insurance policies from 49 insurer partners across motor, health, life, term, investment, travel, and corporate insurance; operates through both direct-to-consumer website/app and B2B2C POSP agent network.
• Health Insurance Health insurance comparison and purchase service for individual, family floater, senior citizen, critical illness, and government health schemes, sourced from 20+ partner insurers including HDFC ERGO, Niva Bupa, Care Health, Star Health, and others.
• Car Insurance Four-wheeler motor insurance comparison service offering third-party, standalone own-damage, and comprehensive coverage options from 20+ partner insurers including ICICI Lombard, HDFC ERGO, and ACKO.
• Bike Insurance Two-wheeler insurance comparison and purchase service providing third-party, standalone own-damage, and comprehensive bike insurance options from partnered insurers.
• Life Insurance Life insurance aggregation service offering term plans, endowment policies, ULIPs, child plans, retirement plans, and money-back policies from providers including LIC, HDFC Life, Tata AIA, and ICICI Prudential.
• Term Insurance Pure protection term life insurance comparison service offering level term plans, return of premium, increasing term, decreasing term, and convertible term plans with coverage options from Rs 50 lakh to Rs 5 crore.
• Investment Plans Life insurance investment products including ULIPs, child plans, money-back policies, retirement plans, and endowment policies with tax benefits under Section 80D.
• Travel Insurance Travel insurance comparison service covering international and domestic travel with options for trip cancellation, medical coverage, and baggage loss protection.
• Corporate Insurance Business insurance solutions for SMEs including group health, liability, property, and commercial vehicle coverage distributed through B2B sales channels.
• POSP Insurance Partner Platform IRDAI-authorized digital platform enabling individuals to become licensed POSP insurance agents, sell motor, health, and life insurance products, and earn commissions; includes training materials, IRDAI exam preparation, and onboarding support.
• Heph SaaS Platform Cloud-based SaaS platform for insurance distributors and small brokerages to manage sales pipelines, customer relationships, policy renewals, and commission tracking across motor, health, and life insurance.

Quantifiable outcome

• 5-minute policy issuance for eligible customers
• +5 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability8 records

Feature6 records

Partnerships

Four partnerships are on record, tiered core.

• SeedsAI (Acquired)coreStrategic or Co-development Partner · 8 December 2025InsuranceDekho acquired AI SaaS startup SeedsAI through its affiliate Girnar Finserv Private Limited (GFPL). SeedsAI builds LLM orchestration tools for enterprise automation, enhancing underwriting accuracy, claims handling, fraud detection, and customer experiences.
• RenewBuy (Merging)coreStrategic or Co-development Partner · 28 October 2024InsuranceDekho is merging with RenewBuy through a share swap deal valued at approximately ₹8,000 crore (InsuranceDekho at ₹5,400 crore, RenewBuy at ₹1,800 crore). The CCI approved the merger in November 2025. Post-merger, the combined entity under Artivatic Data Labs will be one of India's largest tech-led insurance marketplaces, with combined premium book of ₹6,000 crore.
• Artivatic Data LabscoreStrategic or Co-development Partner · 28 October 2024The merged entity of InsuranceDekho and RenewBuy is being consolidated into Artivatic Data Labs, an AI-focused insurtech startup. This merger creates one of India's largest technology-driven insurance marketplaces, with industry estimates valuing the merged operation at approximately $1 billion.
• Verak (Acquired)coreStrategic or Co-development Partner · 5 April 2023InsuranceDekho acquired Verak, a Mumbai-based SME insurance distribution firm backed by Sequoia and LightSpeed, to strengthen its SME insurance division and expand into micro-business insurance. The acquisition aimed to reach 1 million (10 lakh) insured businesses by 2027.

Scale indicators9 records

Recent moves8 records

Expansion highlights7 records

Others

• HDFC ERGO General Insurance:

Direct peers

• Policybazaar: India's largest online insurance aggregator and PB Fintech subsidiary, offering comparison and purchase of motor, health, and life insurance across multiple insurers. Directly competes with InsuranceDekho's core B2C aggregator proposition and has a much larger customer base and brand recognition.
• RenewBuy: Indian insurance broker and aggregator operating a strong POSP-led offline distribution model with comparable product breadth across motor, health, and life. Currently merging with InsuranceDekho into Artivatic Data Labs, but pre-merger was the most direct offline-led competitive analog.
• Acko General Insurance: New-age Indian digital insurer selling motor, health, and travel insurance direct-to-consumer via app and website, bypassing traditional brokers. Competes for the same end customers and increasingly disintermediates aggregator channels like InsuranceDekho.
• Coverfox Insurance: Indian online insurance aggregator (now part of PB Fintech group historically) offering comparison across motor, health, and life insurance. Overlaps with InsuranceDekho on aggregator-led distribution and digital customer experience, though smaller scale.
• Digit Insurance: New-age Indian digital insurer offering motor, health, travel, and other personal lines directly via its own digital channels. Competes with InsuranceDekho at the carrier level rather than as a broker, but targets the same Tier 1 digital consumer with comparable product breadth.

Emerging players

• Turtlemint: Mumbai-based insurtech operating a POSP and advisor-led distribution platform for motor, health, and life insurance. Highly comparable to InsuranceDekho's agent-network-led model, though smaller in scale and focused on urban and semi-urban advisors.
• Toffee Insurance: Indian insurtech focused on bite-sized, sachet-style insurance products distributed via digital and partner channels. Competes with InsuranceDekho in democratizing insurance access for mass-market consumers but with a different product packaging approach.
• Onsurity: Indian employee-health and group-insurance platform serving SMEs and startups. Adjacent to InsuranceDekho's Verak-acquired SME insurance business, with comparable target customer base and digital-first distribution.

Broad incumbents

• ICICI Lombard General Insurance: One of India's largest private general insurers offering motor, health, and commercial lines via own direct, agent, and broker channels. A key insurer partner on InsuranceDekho's platform, but also a broad incumbent that distributes independently of aggregators.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/insurance_dekho
• YouTubeyoutube.com/channel/UCbgggXkm7oIpqS9ushr4jKw
• Facebookfacebook.com/InsuranceDekho-362265937686333
• LinkedInlinkedin.com/company/insurancedekho
• Instagraminstagram.com/insurancedekhoofficial

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds7 records

Investors14 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about InsuranceDekho