Chhaya

What Chhaya does

Chhaya Technologies Ltd. is a Bangladesh-based licensed insurtech company operating a digital micro-insurance platform that distributes health, motor, travel, and enterprise insurance products to the country's largely uninsured population. Founded in 2020 and headquartered in Dhaka at Mirpur DOHS, the company offers a paperless, digital-first experience with registration completed in under 3 minutes and real-time claims status tracking. The platform is fully licensed by Bangladesh's Insurance Development and Regulatory Authority (IDRA, License No: 53.03.0000.017.16.033.2024) and aggregates four underwriting partners — Pragati Life Insurance, Protective Islami Life Insurance, Green Delta Insurance, and Astha Life Insurance — while maintaining a healthcare partner network of 241+ providers across 35+ districts that delivers discounts of up to 50% on radiology, 40% on pathology, and 20% on hospitalization for subscribers.

The business operates on a recurring monthly micro-premium subscription model targeting mass-market individuals and families, SMEs, and a growing B2B enterprise segment for tailored employee benefits and business coverage. Distribution is hybrid: direct-to-consumer online self-serve for individuals and SMEs, and direct enterprise sales for B2B clients. The company reports 35k+ customers and a 40% decrease in out-of-pocket health spending among users. The platform is backed by institutional investors including Orbit Startups, Iterative, Accelerating Asia, DIVC, Turtle Venture Studio, and Stanford Seed, and has received the GITEX Asia Supernova Challenge 2025 award ($50,000 prize) and the BASIS Insuretech 2024 Excellence in Insurance Technology Innovation award. As of the most recent disclosed activity, Chhaya raised a $180,000 funding round in June 2025 and launched Travel Shield as its newest product line.

Name

Chhaya

Legal name

Chhaya Technologies Ltd.

Website

https://chhaya.life

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Chhaya Technologies Ltd. is a Bangladesh-licensed insurtech operating a digital micro-insurance platform that distributes health, motor, travel, and enterprise coverage to the country's uninsured mass market through paperless, digital-first channels backed by four underwriting partners.

Ownership category

akta.pro rank

Product category

Micro-Insurance Platform

NAICS

Direct Health and Medical Insurance Carriers (524114)

SIC

Fire, Marine & Casualty Insurance (6331), Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Commercial Package / Business Owners Policies (BOP) (FSAJAMAG)

akta.pro secondary industry

Fraud Detection, Risk Scoring & KYC for Travel Protection (THALALAM)

Keywords

• Micro-insurance platform
• Health insurance
• Motor insurance
• Travel insurance
• Enterprise insurance

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Micro-Insurance Premiums: Collection of insurance premiums from affordable micro-insurance plans for health, motor, travel, and enterprise segments

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Chhaya is a digital micro-insurance platform that sells affordable, paperless insurance products — Chhaya Health, Motor Insurance, Travel Shield, and Enterprise Insurance — directly to individual consumers and businesses in Bangladesh. The platform enables under-3-minute online registration, real-time digital claims submission and tracking, and pairs policies from partner insurers with a healthcare partner network offering discounts at hospitals.

Differentiator

Problem solved

Functional benefit

Products and services

• Chhaya Health A digital health insurance product that covers medical expenses and hospitalization costs, offered as an affordable micro-insurance plan for individuals and families in Bangladesh.
• Motor Insurance A digital motor insurance product providing coverage for vehicle accidents, theft, and related risks, targeted at vehicle owners in Bangladesh.
• Travel Shield A digital travel insurance product providing protection against unforeseen travel-related circumstances and risks for travelers in Bangladesh.
• Enterprise Insurance (Business Solution) A B2B insurance offering that delivers customized life, health, and asset protection coverage along with employee benefits to small, medium, and enterprise businesses in Bangladesh.

Quantifiable outcome

• 40% decrease in out-of-pocket health spending
• +4 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Pragati Life Insurance Ltd.coreOthersLeading insurer partnering with Chhaya to provide reliable and customized coverage. One of the underwriters in Chhaya's network.
• Protective Islami Life InsurancecoreOthersLeading insurer partnering with Chhaya to bring reliable and customized coverage. One of the underwriters in Chhaya's network.
• Green Delta InsurancecoreOthersLeading insurer partnering with Chhaya to bring reliable and customized coverage. One of the underwriters in Chhaya's network.
• Astha Life InsurancecoreOthersLeading insurer partnering with Chhaya to bring reliable and customized coverage. One of the underwriters in Chhaya's network.
• ZaynaxminorStrategic or Co-development PartnerHealthcare service partner collaborating with Chhaya to provide enhanced benefits to customers
• DrutoloanminorStrategic or Co-development PartnerService partner collaborating with Chhaya to bring enhanced benefits and convenience
• MonakminorStrategic or Co-development PartnerService partner collaborating with Chhaya to bring enhanced benefits and convenience
• PriyoshopminorStrategic or Co-development PartnerService partner collaborating with Chhaya to bring enhanced benefits and convenience

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• PolicyBazaar: India's largest online insurance marketplace, allowing consumers to compare and purchase insurance from multiple providers. Directly comparable to Chhaya's model of distributing insurance from multiple underwriters via a digital platform in an emerging market.
• Acko General Insurance: Indian digital-first insurance platform offering motor, health, and travel insurance directly to consumers online. Closely comparable to Chhaya as a digital insurance distributor in an emerging South Asian market, though operating at significantly larger scale.
• Coverfox: Indian online insurance brokerage platform that aggregates and distributes products from multiple insurers via a digital interface. Comparable to Chhaya as an insurance distribution platform with a digital-first customer experience in the South Asian market.
• MicroEnsure: Specialist provider of micro-insurance products for emerging markets, bringing affordable coverage to low-income populations across Africa and Asia. Directly comparable to Chhaya's mission of insuring the underserved 99% of Bangladesh's population.
• Digit Insurance: Indian digital-first general insurer offering motor, health, travel and other products with a technology-driven approach. Comparable to Chhaya as a digital-native insurance brand serving the emerging market mass segment.
• BIMA (MicroEnsure / Allianz): Mobile-based micro-insurance provider operating across emerging markets in Africa and Asia, serving low-income populations with affordable insurance products delivered via mobile technology. Closely comparable to Chhaya's micro-insurance model targeting the uninsured mass market.

Broad incumbents

• HDFC ERGO General Insurance: Large Indian general insurer with broad product portfolio including motor, health, and travel insurance and growing digital distribution. Comparable to Chhaya as a motor and health insurance provider in South Asia, though operating as a much larger incumbent.
• Lemonade: US-based AI-driven digital insurance company offering consumer insurance products with a technology-led model. Comparable to Chhaya as a digital-first insurance platform, though operating at far greater scale and in developed markets.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/chhaya.life
• LinkedInlinkedin.com/company/chhaya-life

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

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

M&A

Investments

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

Frequently asked questions about Chhaya