What Symbo does

Symbo (legal entity: Bayview Digital Solutions Private Limited, incorporated 2016, operating since 2017) is a Mumbai-headquartered embedded insurance infrastructure company that enables digital platforms, fintechs, and consumer brands to distribute contextual insurance products through API-first, white-label integrations. The platform is built around a unified Quote-to-Claim REST API layer with SDKs, webhooks, and white-label flows, complemented by four distribution suites (Embedded, D2C-Crossell, Lending/Group Policy, and Agent) and a Sandbox suite of AI products (Zaya AI, SmartPolicy, SmartOps, OnePolicy, Symbo Data Insights). Symbo holds an IRDAI insurance broker licence via its wholly owned broking arm (Symbo India Broking Pvt. Ltd) and is also a licensed broker in Singapore, with offices in Mumbai, Gurgaon, and Singapore, VAPT/ISNP certifications, and pre-built integrations to 20+ insurers.

The company's revenue model blends brokerage commissions on each policy distributed (7M+ policies serviced monthly) with platform/API fees, usage-based API consumption charges for high-volume partners (e.g., 500+ API calls/minute on mPokket), and emerging licensing opportunities for AI Sandbox products. Named customers include Lenskart, Decathlon Sports India, Shiprocket, MakeMyTrip, mPokket, Noise, Freo, GrayQuest, Playo, and an unnamed North India NBFC, spanning fintech/BFSI, e-commerce/retail, logistics/gig economy, travel/mobility, and mobile/consumer electronics verticals. Go-to-market combines direct enterprise sales, API self-serve integration, embedded/OEM white-label deployment, insurer channel partnerships, and VAS marketplace integrations.

Symbo is venture-backed by Think Investments, Integra Partners, Insignia Ventures Partners, AJ Capital, and CreditEase, with a disclosed 2021 funding round of $9.4 million and an undisclosed 2018 acquisition of ReLeague Enterprises. The company is actively expanding across South Asia, SEA, MENA, and GCC, signed strategic MoUs at the Black Swan Summit India with Bajaj General Insurance and Spice Money in 2026, and partnered with ONDC for sachet insurance targeting India's digital sellers.

Name

Symbo

Legal name

Bayview Digital Solutions Private Limited

Website

https://symbo.co

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

Symbo is a Mumbai-headquartered embedded insurance infrastructure company that enables digital platforms, fintechs, and brands to distribute contextual insurance via API-first white-label integrations. It holds IRDAI and Singapore broker licences and serves 50+ partners across fintech, e-commerce, logistics, travel, and consumer electronics with 7M+ monthly policies.

Ownership category

akta.pro rank

Product category

Embedded Insurance Infrastructure

NAICS

Insurance Agencies and Brokerages (524210), Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411), Insurance Carriers, Nec (6399)

akta.pro primary industry

Digital Distribution & Comparison Platforms (Aggregators/Marketplaces) (FSAGAGAA)

akta.pro secondary industries

Claims Management & Digital FNOL Platforms (FSAGAGAC), Customer Engagement, CRM & Agent/Broker Enablement Platforms (FSAGAGAD), Policy Administration, Underwriting & Rating Platforms (Core Insurance SaaS) (FSAGAGAB)

Keywords

• Embedded insurance platform
• Insurance API infrastructure
• Insurtech distribution platform
• AI insurance claims automation
• Insurance broker technology

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Insurance Brokerage Commissions: As an IRDAI-licensed broker (via Symbo India Broking Pvt. Ltd), Symbo earns commissions on insurance policies sold and serviced through its embedded platform (7M+ monthly policies). Core revenue engine powered by distribution of contextual insurance across partner brands.
2. Platform & API Fees: Revenue from partners utilizing the modular insurance infrastructure, APIs, dashboards, and configuration tools for launching and managing embedded insurance programs. Includes setup, integration, and ongoing platform support.
3. Usage-based API Consumption: Partners consume API calls for policy issuance, claims, and reconciliation (e.g., 500+ API Calls Per Minute on mPokket), implying usage-based metering for high-volume enterprise partners.
4. Sandbox / AI Products (Zaya AI, SmartPolicy, SmartOps): Innovative AI-driven insurance products including Zaya AI (Insurance Assistant), SmartPolicy (Policy Simplification), and SmartOps (AI Ops Engine) — potential monetization via licensing, subscriptions, or per-call.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels9 records

Core offering

Symbo provides an API-first embedded insurance platform that enables digital brands (fintechs, e-commerce, logistics, travel, OEMs, lenders) to integrate contextual insurance products into their customer journeys via white-label flows, SDKs, and pre-built insurer integrations. Operating as an IRDAI-licensed broker, the company distributes insurance across 50+ partner brands and 7+ countries, processing 7M+ policies and 30K claims monthly, augmented by an AI Sandbox suite (Zaya AI, SmartPolicy, SmartOps, OnePolicy) for claims automation, policy simplification, and operations.

Product overview

Symbo is a platform-plus-modules insurtech architecture built on a single Embedded Insurance Platform, with four core distribution suites (Embedded Suite, D2C-Crossell Suite, Lending Suite/Group Policy Suite, and Agent Suite) that combine for launch, scale, and management of insurance programs. The platform is exposed through a unified Symbo API layer (Quote, Proposals, Issuance, Endorsements, Claims, Payments, Third Party VAS) and is complemented by a Sandbox suite of AI-powered modules - Zaya AI (insurance assistant), SmartPolicy (policy simplification), SmartOps (operations engine), the ONDC sachet insurance program, Symbo Data Insights (analytics), and OnePolicy (single policy control). Pre-built insurer and VAS integrations, plus dashboards (PolicyOps, Claims, Engage, Smart Trigger Engine, Reporting & Reconciliation), sit underneath these suites, enabling partners across ecommerce, fintech, logistics, travel, and mobile/consumer electronics to embed insurance in their customer journeys.

Differentiator

Problem solved

Functional benefit

Brands

• Zaya AI: India's first AI-powered insurance assistant that reads, explains, and answers queries from any policy across text, voice, or regional languages.
• SmartPolicy
• SmartOps
• OnePolicy
• Symbo Data Insights

Products and services

• Symbo Embedded Insurance Platform Core insurtech platform from Bayview Digital Solutions Private Limited that helps digital brands embed, launch, and scale contextual insurance and Value-Added Services via modular APIs, white-label journeys, AI-powered claims, and pre-built insurer integrations.
• Embedded Suite Module for embedding insurance at the right moment in the customer journey: provides 30+ out-of-the-box products, SDKs for Web/App/POS/offline flows, single multi-insurer/multi-product integration, and ready APIs for issuance, cancellations, claims, and reconciliation.
• D2C-Crossell Suite Module for launching branded digital-first insurance journeys in days: offers white-labelled Motor, Health and Life flows built around partner ICPs and specifications, with ready SDKs and pre-integrated insurer connections.
• Lending Suite Module that protects every loan digitally: automates group/credit-linked insurance from start to scale with digital dashboards, multi-insurer support across product lines, auto-set rules for business distribution, and real-time reporting and compliance tracking.
• Agent Suite Module for empowering and managing distributed sales teams: includes agent onboarding and training modules, payout and incentive management, hierarchy and role configuration, and engagement tools with gamification.
• Group Policy Suite Module that automates group insurance from start to scale: features digital dashboards for policy and claims management, multi-insurer support across product lines, auto-set rules for business distribution, and real-time reporting and compliance tracking.
• Zaya AI India's first AI-powered insurance assistant that serves as a digital insurance co-pilot: reads, explains, and answers queries from any policy across text, voice, or regional languages. Available in Symbo's Sandbox suite.
• SmartPolicy AI tool that turns complex insurance policies into simple summaries by accepting any uploaded policy document and producing a clear human-readable version within seconds, including claim guides, coverage highlights, and vernacular options.
• SmartOps AI-powered data cleanup and operations engine that automates data clean-up, error detection, and reconciliations, simplifying insurance ops so insurers can reduce TATs and focus on growth.
• OnePolicy Single platform for insurers, partners, and customers that integrates issuance, claims, and communication in one ecosystem: lets users adjust coverage, modify policies in real time (change tenure, add or remove covers), and design insurance around life events.
• Symbo APIs (Quote-to-Claim API Layer) Unified API layer supporting the full Quote-to-Claim lifecycle with Quote, Proposals, Issuance, Endorsements, Claims, Payments, and Third Party VAS endpoints, plus REST APIs, SDKs, webhooks, and white-label flows designed to plug into modern fintech and commerce stacks with 99.9% API uptime.

Quantifiable outcome

• 87.4% customer satisfaction score with upward trend

Named customers10 records

Segments6 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

AI capability14 records

Feature10 records

Partnerships

Ten partnerships are on record, tiered core insurer partner, vas partner, flagship strategic alliance and strategic mou partner.

• Reliance Insurancecore insurer partnerTechnology or IntegrationPre-built insurer integration available on Symbo's platform as part of its modular tech stack. Enables multi-insurer, multi-product setup with a single integration. Listed among "Pre-built Insurer" partners on the Technology page.
• ICICI Lombard General Insurancecore insurer partnerTechnology or IntegrationPre-built insurer integration on Symbo's technology platform. ICICI Lombard is one of the insurers Symbo enables for digital distribution partners. Listed among "Pre-built Insurer" partners.
• Tata AIA Lifecore insurer partnerTechnology or IntegrationPre-built insurer integration on Symbo's technology platform. Tata AIA Life is integrated as one of Symbo's life insurance partners for embedded distribution. Listed among "Pre-built Insurer" partners.
• Universal Scorpio General Insurance Co., Ltd.core insurer partnerTechnology or IntegrationPre-built insurer integration on Symbo's technology platform. Listed among "Pre-built Insurer" partners alongside Reliance, ICICI Lombard, and Tata AIA Life.
• Across Assistvas partnerTechnology or IntegrationValue-Added Services partner integrated into Symbo's VAS Integrations suite on the Technology page. Symbo bundles VAS offerings alongside insurance products.
• Zappyvas partnerTechnology or IntegrationValue-Added Services partner integrated into Symbo's VAS Integrations suite. Zappy is positioned as India's Trusted Health Savings App.
• Atlysvas partnerTechnology or IntegrationValue-Added Services partner integrated into Symbo's VAS Integrations suite for travel and visa-related value-adds.
• OTTplayvas partnerTechnology or IntegrationValue-Added Services partner integrated into Symbo's VAS Integrations suite for entertainment / OTT value-adds bundled with insurance offerings.
• ONDC (Open Network for Digital Commerce)flagship strategic allianceStrategic or Co-development PartnerSymbo × ONDC partnership powering ONDC's first sachet insurance program — protecting India's digital sellers with instant, low-ticket coverage embedded in every transaction. Featured on Symbo's Sandbox page.
• GFTN (Global Finance & Technology Network) / Black Swan Summit Indiastrategic mou partnerStrategic or Co-development PartnerSymbo signed strategic MoU at the Black Swan Summit India in Bhubaneswar alongside Bajaj General Insurance and Spice Money to support startup mentorship and pilot projects in Odisha. GFTN is a Singapore-based non-profit established by the Monetary Authority of Singapore.

Scale indicators20 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Digit Insurance: One of India's largest new-age general insurers offering motor, health, travel, and commercial insurance with a digital-first stack and partner distribution programs. A broad incumbent that competes with Symbo as both a carrier partner and a potential in-house alternative for embedded distribution.
• PolicyBazaar (PB Fintech): India's largest insurance aggregator and comparison platform, now expanding into embedded insurance and own-product distribution. A broad incumbent with overlap to Symbo in consumer insurance distribution, though operating primarily through aggregator/lead-gen rather than API-first embedding.

Emerging players

• Coverfox Insurance Broking: IRDAI-licensed insurance broker offering comparison and distribution across health, motor, life, and travel insurance. Emerging player with comparable broker license and digital distribution model, though primarily direct-to-consumer rather than platform-embedded.
• Turtlemint: Insurance distribution platform using a POSP (Point of Sale Person) network and digital tools to distribute insurance across India. Comparable to Symbo in digitizing insurance distribution, though focused on agent-led rather than platform-embedded distribution.
• Toffee Insurance: Microinsurance and sachet insurance platform targeting emerging markets with low-ticket, contextual insurance products. Comparable to Symbo's ONDC sachet insurance program and SmartPolicy vernacular capabilities in making insurance accessible through digital-first distribution.
• InsuranceDekho (by Onsurity Tech): Indian insurance distribution and broker platform offering multi-carrier comparison and embedded distribution to enterprise and digital partners. Emerging player with overlapping embedded insurance capabilities serving similar BFSI, auto, and SME segments.

Direct peers

• Onsurity: Tech-enabled group health and employee benefits insurance platform serving SMEs, startups, and enterprises in India. Comparable to Symbo in targeting B2B distribution of insurance through technology rails, with overlap in fintech and BFSI embedded distribution.
• Zopper: India-based embedded insurance infrastructure platform enabling insurers and enterprises to co-create, distribute, and service contextual insurance products through APIs. Closest direct competitor to Symbo in the API-first embedded insurance stack serving banks, NBFCs, and digital platforms.
• Plum Insurance: Employee health insurance and benefits platform for Indian SMBs and enterprises. Comparable to Symbo's Group Policy Suite in digitizing and automating group insurance distribution, though narrower focus on employee benefits rather than broad embedded insurance.
• Acko General Insurance: India's leading new-age insurtech, providing digital and embedded insurance products across motor, health, and travel directly to consumers and via partners. Comparable to Symbo in serving embedded/distributed insurance with API-first capabilities, though more vertically integrated as a licensed insurer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/symboinsurance

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors

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

M&A1 record

Investments

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

Frequently asked questions about Symbo