Veritas
Veritas is an IRDA-licensed Indian insurance broker (Clarion Insurance Broking Services Pvt. Ltd.) distributing motor, health, life, and SME insurance via 25+ insurer partners and a 2 Lac+ PoSP agent network across India, supported by a proprietary Android app.
- Company typePrivate
- Founded2020
- HeadquartersAhmedabad, India
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Veritas does
Veritas is the consumer brand of Clarion Insurance Broking Services Pvt. Ltd., an IRDA-licensed Indian insurance broker (license IRDA/DB748/18, valid 08-06-2020 to 07-06-2026) headquartered in Ahmedabad, Gujarat. The company distributes motor, health, life, and SME insurance products as well as a bundled retail product called Sampoorna Suraksha, drawing on partnerships with 25+ insurance carriers including Bajaj Allianz, ICICI Lombard, HDFC Ergo, TATA AIG, SBI General, New India Assurance, Star Health, and Niva Bupa. Its primary customer segments are individual consumers, SMEs, and the PoSP (Point of Sales Person) agents themselves.
The technology platform consists of a consumer-facing website (veritasins.com) for self-service quotes and policy retrieval, a PoSP recruitment and management portal (pos.veritasins.com), and a proprietary Android application (com.coronation.veritas) used by 5,000+ insurance advisors to generate quotes, issue policies, track renewals, and process claims. A separate ERP system (erp.veritasins.com) supports B2B operations. The company combines direct-to-consumer digital channels with a hybrid channel partner model, leveraging a pan-India PoSP network of 2 Lac+ recruited IRDAI-certified agents for doorstep service.
Veritas monetizes through brokerage commissions earned from insurance carriers on policies sold across its distribution network. Pricing is quote-based and varies by product, insurer, and customer profile; the Sampoorna Suraksha bundled plan is offered at ₹350 encompassing a health checkup package. With 11-50 employees and no disclosed external funding, the company operates as a bootstrapped insurance distribution franchise targeting India's under-penetrated insurance market, with reported customer traction of 50K+ policyholders.
Veritas firmographics
Firmographics- Name
- Veritas
- Legal name
- Clarion Insurance Broking Services Pvt. Ltd.
- Website
- https://veritasins.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Veritas is an IRDA-licensed Indian insurance broker (Clarion Insurance Broking Services Pvt. Ltd.) distributing motor, health, life, and SME insurance via 25+ insurer partners and a 2 Lac+ PoSP agent network across India, supported by a proprietary Android app.
- Ownership category
- akta.pro rank
Veritas industry classification
Industry- Product category
- Insurance Brokerage
- NAICS
- Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210), Insurance Agencies and Brokerages (52421)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Individual Health Insurance Brokerage & Distribution (FSAIAEAL)
Keywords
Where Veritas is headquartered
LocationHeadquarters
- HQ city
- Ahmedabad
- HQ country
- India
- HQ region
- Asia
Offices3 records
Markets served
Veritas business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Marketing or Sales, Operations, Technology or R&D, Infrastructure
Revenue model
- Insurance Brokerage Commission: Veritas earns commission from multiple insurance companies for policies sold through its network of PoSP agents and direct channels. As a licensed insurance broker, they represent clients and earn commissions from insurers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | One time/ perpetual license | Sampoorna Suraksha bundled plan with health checkup, accident cover, and daily support |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels3 records
Veritas product offering
Product offeringCore offering
Veritas is a licensed insurance broker (IRDA Regn No:712, Regn Code:IRDA/DB748/18) that distributes motor, health, life, and SME insurance products sourced from 25+ insurance company partners to individual consumers and small businesses. It serves customers through a direct website, an Android mobile application, and a pan-India network of Point of Sales Persons (PoSPs) earning commissions from insurer partners.
Product overview
Veritas operates as a multi-product insurance brokerage platform (registered as Clarion Insurance Broking Services Pvt Ltd, IRDA Regn No:712) offering Motor, Health, Life, and SME insurance products from 25+ insurance company partners. The platform consists of a consumer-facing website for purchasing insurance, a PoSP agent platform for recruiting and managing insurance advisors, and an Android mobile application for policy management. Key products include Motor Insurance, Health Insurance, Life Insurance, SME Insurance, and Sampoorna Suraksha (a bundled product combining health cover, personal accident protection, and value-added services). The technology infrastructure includes policy issuance, claims processing, and renewal management capabilities accessible via web and mobile.
Differentiator
Problem solved
Functional benefit
Products and services
- Motor Insurance Motor insurance distribution covering two-wheelers, private cars, and commercial vehicles, sourced from 25+ insurance company partners; customers can obtain comparative quotes, purchase policies, and manage renewals through Veritas's website, app, and PoSP advisors.
Companies that use Veritas
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
Veritas technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Veritas partnerships and signals
Strategic signalPartnerships
28 partnerships are on record, tiered core.
- Bajaj Allianz General InsurancecoreInsurance company partner providing motor, health, and general insurance products distributed through Veritas broker network.
- GoDigit (Godigit)coreInsurance company partner whose products are available through Veritas platform.
- National Insurance CompanycorePublic sector general insurance company partner available through Veritas broker network.
- SBI General InsurancecoreSBI Group general insurance company partner available through Veritas.
- Star Health and Allied InsurancecoreHealth insurance specialist partner available through Veritas platform.
- United India InsurancecorePublic sector insurance company partner providing general insurance products through Veritas.
- Chola MS General InsurancecoreInsurance company partner available through Veritas broker network.
- HDFC Ergo General InsurancecoreInsurance company partner (post-merger with HDFC General Insurance) available through Veritas.
- ICICI Lombard General InsurancecoreMajor private sector general insurance company partner available through Veritas.
- IFFCO Tokio General InsurancecoreCooperative sector insurance company partner available through Veritas.
- Liberty General InsurancecorePrivate general insurance company partner available through Veritas.
- Niva Bupa Health Insurance (formerly Max Bupa)coreHealth insurance specialist partner (rebranded from Max Bupa) available through Veritas.
- Magma HDI General InsurancecoreInsurance company partner available through Veritas broker network.
- Oriental Insurance CompanycorePublic sector insurance company partner available through Veritas.
- Reliance General InsurancecoreReliance Group general insurance company partner available through Veritas.
- Shriram General InsurancecoreInsurance company partner specializing in commercial and personal vehicle insurance available through Veritas.
- TATA AIG General InsurancecoreTata Group general insurance company partner available through Veritas.
- Universal Sompo General InsurancecoreInsurance company partner available through Veritas broker network.
- Future Generali India InsurancecoreInsurance company partner (part of Future Group) available through Veritas.
- Aditya Birla General InsurancecoreAditya Birla Group general insurance company partner available through Veritas.
- Care Health InsurancecoreHealth insurance specialist partner available through Veritas platform.
- Kotak General InsurancecoreKotak Mahindra Group general insurance company partner available through Veritas.
- ManipalCigna Health InsurancecoreHealth insurance partner (ManipalCigna joint venture) available through Veritas.
- The New India AssurancecorePublic sector general insurance company partner available through Veritas.
- Raheja QBE General InsurancecoreInsurance company partner available through Veritas broker network.
- Royal Sundaram General InsurancecoreInsurance company partner (part of Sundaram Group) available through Veritas.
- ECGC LimitedcoreExport Credit Guarantee Corporation partner providing trade credit insurance through Veritas.
- Edelweiss Tokio Life InsurancecoreLife insurance partner (Edelweiss-Tokio joint venture) available through Veritas.
Scale indicators8 records
Recent moves6 records
Expansion highlights4 records
Veritas competitors and assessment
Company assessmentBroad incumbents
- Digit Insurance: One of India's leading private general insurers, partnering with Veritas and offering motor, health, and other lines through digital and partner channels. Comparable as a counterparty in the broker-insurer relationship and as a tech-enabled distribution player.
- Acko General Insurance: Direct-to-consumer digital general insurer in India also operating insurance distribution / broking channels across motor, health, and SME lines. A broader incumbent offering overlapping products but as an underwriter-distributor rather than a pure broker.
Direct peers
- PolicyBazaar (PB Fintech): India's largest online insurance aggregator and broker, offering comparison and purchase of motor, health, life, and SME insurance from multiple insurers. Most directly comparable to Veritas as a multi-line insurance brokerage platform, though at vastly greater scale and capital intensity.
- Turtlemint: Insurance advisory platform in India empowering a large network of PoSP / insurance advisors to sell motor, health, and life insurance from multiple insurers via an app. Closely comparable in product, advisor-led distribution, and technology-enabled brokerage model.
- Coverfox Insurance Broking: IRDA-licensed online insurance broker selling motor, health, and life insurance from multiple insurers via a digital platform. Comparable to Veritas as an IRDA-licensed multi-line insurance broker operating an online + assisted buying model in India.
- RenewBuy (Renewbuy Insurance Broking): Online insurance brokerage platform in India offering motor, health, and life insurance from multiple insurers with a PoSP-style assisted network. Comparable in broker model, multi-line offering, and pan-India digital distribution focus.
- InsuranceDekho (by Orowealth/GirnarSoft): IRDA-licensed insurance broker in India offering motor, health, life, and SME insurance through a digital plus assisted agent (PoSP) channel. Direct peer given shared multi-line brokerage, IRDA licensing, and hybrid online-offline distribution model.
Emerging players
- Onsurity: Tech-first employee health and group insurance platform serving Indian SMEs and startups. Partial overlap with Veritas' SME insurance segment, though Onsurity focuses more on subscription-style group health benefits than full multi-line brokerage.
- Plum (by Plum Benefits): Insurtech offering group health, term life, and accident insurance as employee benefits, targeting Indian SMBs and startups. Overlaps with Veritas' SME insurance segment but specializes in employee benefits rather than full multi-line commercial coverage.
Regional players
- Riskbirbal Insurance Brokers: IRDA-licensed Indian insurance broker offering commercial lines (SME, marine, liability) and personal lines through advisory channels. Comparable broker model, with a somewhat stronger commercial/SME tilt than Veritas but similar multi-line, multi-insurer approach.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Veritas social profiles
Digital presenceVeritas compliance and trust
Trust signalCompliance1 record
Veritas financial estimates
Financial estimateRevenue estimate
Valuation estimate
Veritas leadership team
Management profileNumber of profiles
Profiles2 records
Veritas funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Veritas 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 Veritas
What does Veritas do?
Veritas is a licensed insurance broker (IRDA Regn No:712, Regn Code:IRDA/DB748/18) that distributes motor, health, life, and SME insurance products sourced from 25+ insurance company partners to individual consumers and small businesses. It serves customers through a direct website, an Android mobile application, and a pan-India network of Point of Sales Persons (PoSPs) earning commissions from insurer partners.
Is Veritas a public or private company?
Veritas is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Veritas founded?
Veritas was founded in 2020. It employs 11 to 50 people.
Where is Veritas based?
Veritas is headquartered in Ahmedabad, India, in the Asia region.
How does Veritas make money?
One revenue line is on record: insurance Brokerage Commission.
Who are Veritas's main competitors?
Broad incumbents on record are Digit Insurance and Acko General Insurance. Direct peers are PolicyBazaar (PB Fintech), Turtlemint, Coverfox Insurance Broking, RenewBuy (Renewbuy Insurance Broking) and InsuranceDekho (by Orowealth/GirnarSoft). Emerging players are Onsurity and Plum (by Plum Benefits). Riskbirbal Insurance Brokers is listed as a regional player.
Does Veritas have an API?
No public API is recorded for Veritas.
What industry is Veritas in?
Veritas's product category is Insurance Brokerage. Its primary akta.pro industry code is FSAIAEAL, Individual Health Insurance Brokerage & Distribution. Its NAICS code is 5242 and its SIC code is 6411.