Riskcovry
Riskcovry (UMBO IDTech Private Limited) is a B2B SaaS insurtech infrastructure platform founded in 2018 in Mumbai, providing API-driven distribution across 40+ insurers and 150+ products for banks, NBFCs, brokers, fintechs, and digital platforms in India and MENA.
- Company typePrivate
- Founded2018
- HeadquartersJuhu, India
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Riskcovry does
Riskcovry (legal entity UMBO IDTech Private Limited) is a B2B SaaS insurtech infrastructure platform founded in 2018 and headquartered in Mumbai, India. The company provides API-driven insurance distribution infrastructure that connects insurers with lenders, brokers, fintechs, and digital platforms, integrating with 40+ insurers and offering 150+ insurance products. It serves enterprise customers across banking (IndusInd Bank, HDFC, HDB Financial Services), housing finance (Grihum Housing Finance, Home First Finance), broking (AnandRathi, Motilal Oswal, Angel One), NBFC (UGRO Capital), digital commerce (Razorpay), and telecom (Airtel) verticals.
The platform is organized into four product modules — LendPro for credit-linked insurance automation tied to lender LOS systems, EmbedPro for embedding insurance into digital consumer and partner journeys, RetailPro for retail distribution including POSP networks, and Console for analytics and reporting — overlaid by an AI Workflows layer built on a proprietary MCP (Model Context Protocol) Server launched in September 2025. Riskcovry holds ISO 27001 certification, indicating compliance-grade information security posture appropriate for regulated financial-services buyers.
The business model is enterprise SaaS monetized through API-based transaction fees, platform subscriptions, and white-label distribution arrangements with financial institutions, brokers, and insurers, with a stated expansion plan covering both India and the MENA region. The company has cumulatively raised approximately $6.8M across seed and bridge rounds, carries a reported valuation of ₹365 crore (~$43.6M), employs 101–250 people, and is signaling Series B readiness.
Riskcovry firmographics
Firmographics- Name
- Riskcovry
- Legal name
- UMBO IDTech Private Limited
- Website
- https://riskcovry.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Riskcovry (UMBO IDTech Private Limited) is a B2B SaaS insurtech infrastructure platform founded in 2018 in Mumbai, providing API-driven distribution across 40+ insurers and 150+ products for banks, NBFCs, brokers, fintechs, and digital platforms in India and MENA.
- Ownership category
- akta.pro rank
Riskcovry industry classification
Industry- Product category
- Insurtech Infrastructure / Insurance Distribution Platform
- NAICS
- Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Carriers and Related Activities (524), Insurance Agencies and Brokerages (52421)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Embedded Insurance Distribution & Premium Financing (FSAGALAF)
- akta.pro secondary industries
- Data, Analytics & AI for Insurance (Risk, Pricing, Personalization) (FSAGAGAE), Pricing, Risk-Based Offer & Limit Management (FSAGAHAE)
Keywords
Where Riskcovry is headquartered
LocationHeadquarters
- HQ city
- Juhu
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Riskcovry business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations
Revenue model
- Platform/Subscription Fees: Riskcovry operates as a B2B insurtech infrastructure platform providing technology solutions to enterprise customers (banks, lenders, insurance brokers, fintechs). Revenue likely derives from platform access fees, API usage fees, and potentially transaction-based fees on insurance premiums processed through the platform. The 'insurance-in-a-box' model suggests a SaaS-like recurring revenue structure with enterprise contracts.
Go-to-market motion3 records
Distribution channels4 records
Marketing channels4 records
Riskcovry product offering
Product offeringCore offering
Riskcovry operates an AI-driven, insurance-in-a-box B2B SaaS infrastructure platform that enables banks, NBFCs, HFCs, fintechs, insurance brokers and insurers to distribute insurance digitally via unified APIs and pre-built products. Its platform LendPro, EmbedPro, RetailPro, and Console cover credit-linked, embedded, retail and broker-led insurance journeys with 40+ insurers and 150+ products integrated.
Product overview
Riskcovry is a full-stack insurance distribution platform operating on an 'insurance-in-a-box' model, providing a platform-plus-modules architecture. The core platform offers AI-driven orchestration, intelligent workflows, and enterprise-grade infrastructure with pre-integrated access to 150+ insurance products from 40+ insurers across life, health, motor, credit-linked and sachet insurances. The four main product modules are LendPro (for credit-linked insurance automation with lenders and HFCs), EmbedPro (for embedded insurance in digital journeys), RetailPro (for retail insurance distribution via brokers), and Console (for analytics and reporting). Additional API products provide modular access to specific capabilities including Retail Health Insurance APIs, Retail Motor Insurance APIs, and dedicated APIs for each product module. The platform serves Banks, Lenders, Insurance Brokers, Insurance Companies, Embedded Insurance providers, and Fintechs.
Differentiator
Problem solved
Functional benefit
Brands
- LendPro: Automates all processes involved in insurance attachment with loans, including integration with multiple LOS, automatic premium calculator, and remittance dashboard.
- EmbedPro
- RetailPro
- Console
Products and services
- LendPro
- EmbedPro
- RetailPro
- Console
- Retail Health Insurance APIs
- Retail Motor Insurance APIs
- LendPro APIs
- EmbedPro APIs
- Console APIs
Quantifiable outcome
- 60% improvement in operational efficiency for insurance brokers
- +6 more outcomes
Companies that use Riskcovry
Customer profileNamed customers14 records
Segments6 records
Ideal customer profiles5 records
Riskcovry technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability5 records
Feature7 records
Riskcovry partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- 40+ Insurance CompaniescorePre-integrated with 40+ insurance companies offering 150+ insurance products across life, health, motor, credit-linked, and sachet insurances. Enables enterprise customers to access multiple insurers through single API integration.
- Ideal Insurance BrokerscoreStrategic partnership announced November 2024 to launch a digital insurance platform. Ideal Insurance Brokers leverages Riskcovry's platform to digitize their insurance distribution capabilities.
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
Riskcovry competitors and assessment
Company assessmentDirect peers
- Turtlemint: Turtlemint is an Indian insurtech platform that empowers insurance advisors and partners with digital tools to distribute life, health, and motor insurance across multiple carriers. It is highly comparable to Riskcovry's RetailPro and POSP-network capabilities, operating a similar multi-carrier, advisor-led distribution model in India.
- Coverfox: Coverfox is one of India's leading online insurance distributors and aggregators, partnering with multiple insurers to sell policies digitally to consumers and via partners. It is directly comparable to Riskcovry in serving the Indian insurance distribution market, although it focuses more on consumer-facing aggregation than on B2B infrastructure.
- Onsurity: Onsurity is an Indian employee-benefits and insurance-technology platform that provides group health and term-life insurance to SMBs via a tech-enabled distribution model. It overlaps with Riskcovry's B2B distribution infrastructure play and the LendPro-style credit-linked insurance workflows.
Regional players
- Zego: Zego is a UK-based insurtech providing usage-based and embedded motor and gig-economy insurance via APIs and partner platforms. It is comparable to Riskcovry as a regional insurtech infrastructure player focused on embedded insurance via APIs, though operating in Europe rather than India/MENA.
Emerging players
- InsuranceDekho (by Onsurity): InsuranceDekho is an Indian insurance aggregator and POSP-led distribution platform offering motor, health, and life insurance across multiple carriers. It is comparable to Riskcovry's broker and POSP-network distribution approach, especially within the RetailPro use case.
- Pazcare: Pazcare is an Indian employee-benefits and group insurance distribution platform for SMBs and enterprises, with API-first insurance distribution capabilities. It is comparable to Riskcovry's B2B fintech/lender distribution motion, particularly around health and life insurance embedded into employee-benefit flows.
- Plum (by Plum Benefits): Plum is an Indian employee-health and group-insurance distribution platform for SMBs and startups, offering API-based insurance enrollment and claims. It is comparable to Riskcovry's fintech-embedded distribution model targeting digital lenders, NBFCs, and platform-based distributors.
- Toffee Insurance: Toffee Insurance is an Indian embedded-insurance platform focused on context-driven insurance products (e.g., smartphone protection, travel, EMI cover) for digital platforms and SMBs. It overlaps directly with Riskcovry's EmbedPro module and embedded-insurance go-to-market for fintechs and digital platforms.
Broad incumbents
- Acko General Insurance: Acko is a digital-first Indian insurance carrier selling motor, health, and embedded insurance products via partnerships with large platforms. It is comparable to Riskcovry as a competitor in the embedded/online insurance distribution space, although Acko is also an underwriter, making it both a potential partner and a vertical competitor.
- Policybazaar (PB Fintech): Policybazaar is India's largest insurance aggregator and the dominant consumer-facing insurance marketplace, also offering B2B distribution through its Paisabazaar credit platform. It is a broad incumbent comparable to Riskcovry in the Indian insurance distribution value chain, with much greater scale but a more retail/aggregator-centric model.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Riskcovry social profiles
Digital presenceRiskcovry compliance and trust
Trust signalCompliance2 records
Riskcovry financial estimates
Financial estimateRevenue estimate
Valuation estimate
Riskcovry leadership team
Management profileNumber of profiles
Profiles4 records
Riskcovry funding detail
Funding detailFunding overview
Funding rounds4 records
Investors14 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Riskcovry 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 Riskcovry
What does Riskcovry do?
Riskcovry operates an AI-driven, insurance-in-a-box B2B SaaS infrastructure platform that enables banks, NBFCs, HFCs, fintechs, insurance brokers and insurers to distribute insurance digitally via unified APIs and pre-built products. Its platform LendPro, EmbedPro, RetailPro, and Console cover credit-linked, embedded, retail and broker-led insurance journeys with 40+ insurers and 150+ products integrated.
Is Riskcovry a public or private company?
Riskcovry is a private company. It is classified as venture growth investor backed and is currently operating.
When was Riskcovry founded?
Riskcovry was founded in 2018. It employs 101 to 250 people.
Where is Riskcovry based?
Riskcovry is headquartered in Juhu, India, in the Asia region.
How does Riskcovry make money?
One revenue line is on record: platform/Subscription Fees.
Who are Riskcovry's main competitors?
Direct peers on record are Turtlemint, Coverfox and Onsurity. Zego is listed as a regional player. Emerging players are InsuranceDekho (by Onsurity), Pazcare, Plum (by Plum Benefits) and Toffee Insurance. Broad incumbents are Acko General Insurance and Policybazaar (PB Fintech).
Does Riskcovry have an API?
Yes. Riskcovry offers an Advanced API Stack with multiple API categories: Retail Health Insurance APIs (enable seamless health insurance purchases through assisted and self-serve journeys, real-time quotes from multiple providers), Retail Motor Insurance APIs (digital experience for motor insurance purchases), LendPro APIs (embed insurance within loan workflows, automate insurance offers for borrowers), EmbedPro APIs (embed insurance offerings into any digital journey, from e-commerce to ride-hailing apps), and Console APIs (full control of insurance distribution with real-time data, analytics, and reporting). The APIs provide unified access to 150+ insurance products from 40+ insurers across life, health, motor, credit-linked and sachet insurances. Developer documentation is at www.riskcovry.com/api.
What industry is Riskcovry in?
Riskcovry's product category is Insurtech Infrastructure / Insurance Distribution Platform. Its primary akta.pro industry code is FSAGALAF, Embedded Insurance Distribution & Premium Financing, with a secondary code of FSAGAGAE, Data, Analytics & AI for Insurance (Risk, Pricing, Personalization). Its NAICS code is 5242 and its SIC code is 6411.