Bharatsure
Bharatsure is a Mumbai-based insurtech infrastructure provider founded in 2021, offering API-first embedded insurance platforms, white-label group benefits technology, and claims infrastructure for brokers, fintechs, banks, HR techs, gig platforms, and enterprises across India.
- Company typePrivate
- Founded2021
- HeadquartersMumbai, India
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Bharatsure does
Bharatsure is a Mumbai-based insurtech startup founded in 2021 that provides full-stack insurance infrastructure to enable insurance distribution across India. The company operates four interconnected platforms: an Employee Benefits Platform for group insurance distribution, an Affinity Platform/Embedded Insurance offering with API-first architecture for embedding insurance into digital journeys, AffinityOS as a white-labeled multi-tenant infrastructure for affinity distributors and MGAs, a Retail Insurance Shelf for banks and agents, and a Claims Infrastructure layer with 15+ TPA integrations serving all distribution lines. The platform integrates with 30+ insurers, 15+ TPAs, and 10+ wellness providers, and is ISO/IEC 27001:2022 certified.
Bharatsure operates a B2B2X model that enables brokers, agents, banks, fintechs, HR techs, healthtechs, gig platforms, EV/mobility networks, and e-commerce platforms to distribute insurance without obtaining their own broking or insurance license. The revenue model combines transaction fees on premium processed, subscription-based platform access, and usage-based API fees. The embedded insurance product portfolio spans nine categories: income protection, asset insurance, group health, cyber insurance, pet insurance, term insurance, personal accident, travel, and trade credit. Pricing starts at highly accessible sachet levels (₹5/month term, ₹4/month personal accident) for low-income and gig segments, scaling up to corporate group health with sum insured up to ₹1 Cr including super top-up.
The company reports ₹191 Cr+ in cumulative premium processed, 4 lakh+ lives covered annually, 15,000+ claims processed, and 60+ institutional partners. Bharatsure has raised approximately $3.9M in cumulative funding across multiple rounds between 2021 and 2025, with investors including Capital-A, Inflection Point Ventures, Grip Invest, HEM Angels, and Dexter Ventures. The company was recognized as BusinessWorld Insurtech of the Year in 2024 and featured by Inc42 in its Startups To Watch list.
Bharatsure firmographics
Firmographics- Name
- Bharatsure
- Legal name
- Bharatsure
- Website
- https://bharatsure.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Bharatsure is a Mumbai-based insurtech infrastructure provider founded in 2021, offering API-first embedded insurance platforms, white-label group benefits technology, and claims infrastructure for brokers, fintechs, banks, HR techs, gig platforms, and enterprises across India.
- Ownership category
- akta.pro rank
Bharatsure industry classification
Industry- Product category
- Insurtech Infrastructure
- NAICS
- Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210), Claims Adjusting (524291), Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)
- akta.pro secondary industry
- Claims Management & Digital FNOL Platforms (FSAGAGAC)
Keywords
Where Bharatsure is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Bharatsure business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Insurance Premium Distribution: Bharatsure acts as insurance infrastructure provider, distributing group insurance and embedded insurance products through partner platforms. Revenue generated from premium processing fees and commissions from insurance distribution.
- Technology and Servicing Platform: Provides full-stack tech, servicing, and product infrastructure to insurance distributors. Partners pay for access to platform capabilities including policy management, claims handling, and white-label deployment.
- Embedded Insurance API Services: API-first platform enabling partners to embed insurance products into their digital journeys. Revenue from per-transaction or subscription-based API access fees.
- Claims Servicing Support: Year-round claims assistance, endorsements, renewals, and wellness signups through dedicated servicing team. Included as part of platform subscription.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Group Health Insurance starting at ₹100/month |
| Subscription | Monthly | Personal Accident Insurance starting at ₹4/month |
| Subscription | Annual | Pet Insurance starting at ₹1,000/annum |
| Subscription | Monthly | Cyber Insurance starting at ₹25/month |
| Usage-based | Pay-as-you-go | Solar Panel Asset Insurance at 0.15%-0.35% of sum insured |
| Unit Pricing | Pay-as-you-go | Hospital Daily Cash ₹100-₹10,000 per day |
| Subscription | Monthly | Sachet Term Insurance starting at ₹5/month |
| Subscription | Monthly | Gig Worker Health + PA bundle |
Go-to-market motion4 records
Distribution channels6 records
Marketing channels5 records
Bharatsure product offering
Product offeringCore offering
Bharatsure provides full-stack insurance infrastructure-as-a-service for India's distribution chain, comprising an Employee Benefits Platform, an API-first Affinity Platform for embedded insurance, a white-labelled Retail Insurance Shelf, and a Claims Infrastructure layer with 15+ TPA integrations. Partners including insurance brokers, agents, banks, fintechs, HR techs, healthtechs, gig platforms, e-commerce and EV/mobility platforms use Bharatsure to distribute and service group, sachet and embedded insurance products across 30+ insurers without holding their own insurance licence. The offering includes a unified dashboard, claims-first servicing, and access to 10+ wellness providers alongside 50+ product SKUs.
Product overview
Bharatsure is an insurtech company providing full-stack insurance infrastructure-as-a-service for India's distribution chain. The company operates a platform-plus-modules architecture comprising four interconnected platforms: Employee Benefits Platform (for group insurance distribution), Affinity Platform/Embedded Insurance (API-first platform for embedding insurance into digital journeys), AffinityOS (white-labelled infrastructure for affinity distributors), and Retail Insurance Shelf (white-labelled insurance for banks/agents). The product portfolio includes nine embedded insurance products: Income Protection (hospital daily cash, parametric income, job loss), Asset Insurance (large assets, small assets), Health Insurance (GHI, OPD, maternity), Cyber Insurance, Pet Insurance, Term Insurance (sachet term, loan protection), Personal Accident, Travel Insurance, and Trade Credit Insurance. All platforms share common Claims Infrastructure with 15+ TPA integrations, a white-labelled dashboard, and published SLAs. The company integrates with 30+ insurers, 15+ TPAs, and 10+ wellness providers, and serves 60+ institutional partners covering 4 lakh+ lives annually.
Differentiator
Problem solved
Functional benefit
Brands
- AffinityOS: White-labelled platform for affinity insurance distributors to design, distribute and service affinity insurance programs from policy issuance to claims.
Products and services
- Employee Benefits Platform
Quantifiable outcome
- 4.0 Lakh+ lives covered annually through the platform
- +6 more outcomes
Companies that use Bharatsure
Customer profileNamed customers6 records
Segments12 records
Ideal customer profiles7 records
Bharatsure technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration34 records
Feature5 records
Bharatsure partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered flagship, core and supporting.
- Battery SmartflagshipNew partnership announced with Battery Smart (EV battery-swap network) to offer natural calamity insurance for EV station partners. Strategic product development collaboration for EV mobility coverage.
- 30+ Insurance CompaniescoreIntegrated with 30+ insurers including Acko, Aditya Birla Capital, Aviva, Axis Max, Bajaj Allianz, HDFC Ergo, ICICI Lombard, and others for group insurance distribution.
- 15+ TPAs (Third Party Administrators)coreIntegrated with 15+ TPAs for claims processing including Erickson, FHPL, Good Health, Health India, MDIndia, Paramount, and others.
- 10+ Wellness ProviderssupportingConnected with wellness providers including Connect and Heal, Cult, Even, Healthians, Medibuddy, Medulance, Mindpeers, and others for health and wellness program integration.
Scale indicators15 records
Recent moves6 records
Expansion highlights6 records
Bharatsure competitors and assessment
Company assessmentDirect peers
- Turtlefin: Turtlefin is an Indian embedded insurance infrastructure company that exposes insurance products via APIs to lending, fintech, and consumer platforms. It overlaps directly with Bharatsure's AffinityOS and Affinity Platform for credit-linked life, health, and personal accident products.
- Cover Genius: Cover Genius is a global embedded insurance API platform serving digital partners with white-labeled protection products. It is comparable to Bharatsure's AffinityOS for cross-border insurtech distribution models, multi-carrier quoting, and claims infrastructure-as-a-service.
- Plum (Plum Benefits): Plum provides group health, term life, and accident insurance for Indian employers and employees through an API-driven benefits platform. It is a direct competitor to Bharatsure's Employee Benefits solution for SMEs and startups, with comparable product breadth and partner integrations.
- Onsurity: Onsurity is a Bengaluru-based employee health benefits and group insurance platform serving Indian SMEs and enterprises. It overlaps with Bharatsure's Employee Benefits Platform in technology-enabled group health distribution, policy admin, and claims support for corporates.
- Riskcovry: Riskcovry is an Indian insurance-tech infrastructure platform that enables digital distribution of insurance products via APIs for embedded use cases. It mirrors Bharatsure's API-first, B2B2X model and targets similar lender, fintech, and e-commerce platforms for credit-life and consumer protection products.
- Pazcare: Pazcare offers an employee benefits and group health insurance platform for Indian startups, SMEs, and enterprises with HR-facing dashboards. It directly competes with Bharatsure's Employee Benefits Platform by combining tech, products, and claims servicing in a single B2B proposition.
- Loop Health: Loop Health is a Pune-based group health insurance and employee benefits provider in India, combining insurance administration with telehealth and wellness. It is comparable to Bharatsure on the employer/employee benefits side, including claims servicing and white-label offerings.
Broad incumbents
- Digit Insurance: Digit is a leading India digital-first insurer operating across motor, health, and commercial lines. While it is also a Bharatsure integration partner, it shares the same end customers and could pursue direct embedding, representing a competitive dynamic against Bharatsure's stack.
- InsuranceDekho: InsuranceDekho is one of India's largest digital insurance aggregators/brokers distributing retail and group products across multiple insurers. It competes with Bharatsure's broker-enablement stack by offering comparable multi-carrier access via digital channels.
Emerging players
- Zopper: Zopper provides an insurance-as-a-service and embedded insurance platform for Indian retail and distribution partners, including POSP-led channels. It overlaps with Bharatsure's Retail Insurance Shelf and Affinity Platform for white-labelled distribution.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Bharatsure compliance and trust
Trust signalCompliance2 records
Bharatsure financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bharatsure leadership team
Management profileNumber of profiles
Bharatsure funding detail
Funding detailFunding overview
Funding rounds5 records
Investors9 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bharatsure M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bharatsure
What does Bharatsure do?
Bharatsure provides full-stack insurance infrastructure-as-a-service for India's distribution chain, comprising an Employee Benefits Platform, an API-first Affinity Platform for embedded insurance, a white-labelled Retail Insurance Shelf, and a Claims Infrastructure layer with 15+ TPA integrations. Partners including insurance brokers, agents, banks, fintechs, HR techs, healthtechs, gig platforms, e-commerce and EV/mobility platforms use Bharatsure to distribute and service group, sachet and embedded insurance products across 30+ insurers without holding their own insurance licence. The offering includes a unified dashboard, claims-first servicing, and access to 10+ wellness providers alongside 50+ product SKUs.
Is Bharatsure a public or private company?
Bharatsure is a private company. It is classified as venture growth investor backed and is currently operating.
When was Bharatsure founded?
Bharatsure was founded in 2021. It employs 51 to 100 people.
Where is Bharatsure based?
Bharatsure is headquartered in Mumbai, India, in the Asia region.
How does Bharatsure make money?
Four revenue lines are on record. Insurance Premium Distribution is the primary driver. The others are technology and Servicing Platform, embedded Insurance API Services and claims Servicing Support.
Who are Bharatsure's main competitors?
Direct peers on record are Turtlefin, Cover Genius, Plum (Plum Benefits), Onsurity, Riskcovry, Pazcare and Loop Health. Broad incumbents are Digit Insurance and InsuranceDekho. Zopper is listed as an emerging player.
Does Bharatsure have an API?
Yes. Bharatsure offers an API-first embedded insurance platform through AffinityOS. The API provides end-to-end capabilities including quote generation, policy binding, endorsements, claims processing, and reconciliation. Developers can fetch member data templates, add members, check member status, and manage policy lifecycle programmatically. The platform exposes quote, bind, endorse, claim, and reconcile workflows as callable endpoints. Sandbox access is available with Postman collections provided. Most pilots go live within 15 days of term sheet, with sandbox typically set up within 48 hours.
What industry is Bharatsure in?
Bharatsure's product category is Insurtech Infrastructure. Its primary akta.pro industry code is FSAGAGAL, Embedded Insurance & Affinity Distribution Platforms, with a secondary code of FSAGAGAC, Claims Management & Digital FNOL Platforms. Its NAICS code is 5242 and its SIC code is 6411.