What Mitra does

Mitra is an IRDAI-registered personal insurance intermediary operating under Safetynet Insurance Service Private Limited (Reg. No. CA0785) and marketed under the Healthysure brand of the Bharatsure group. The company positions itself as a personal insurance platform that distributes health, life, home, and cyber policies from 30+ Indian insurers through a single interface. Its distribution is centered on a "named claim expert" model in which each policyholder is assigned a dedicated human point-of-contact, supported by the MITRA mobile app for live claim tracking and policy management, plus online Health and Term cover calculators that serve as lead-generation tools.

The technology stack is consumer-facing rather than underwriting-centric: a mobile app, web calculators, and channel-specific flows for POSP agents, referral partners, Corporate Agents, IMFs, and embedded partners. Mitra does not underwrite risk itself; it earns commission from insurers on policies placed and serviced through its intermediary license, with no disclosed fee charged to the customer. Scale indicators disclosed include 80,000+ families protected, 25,000+ claims settled with a stated 98% resolution rate, 4,00,000+ lives covered, and a 5-star Google rating from more than 1,000 reviews.

Go-to-market is multi-modal, combining direct-to-consumer acquisition (web and app), a growing partner/agent channel, and corporate group health distribution. The company is headquartered in Mumbai, has 51-100 employees, and was founded by Anuj Parekh, Sanil Basutkar, Amit Tak, and Umang Jain. It has received India Fintech Awards 2023 from NASSCOM, Inc42 Top 30 Startup recognition in 2022 and 2024, and Top 50 Insurtech APAC recognition, though no funding rounds or financial metrics have been disclosed publicly.

Name

Mitra

Legal name

Safetynet Insurance Service Private Limited

Website

https://mitrainsure.com

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Short description

Mitra is an IRDAI-registered personal insurance intermediary that distributes health, life, home, and cyber policies from 30+ insurers to Indian consumers and families, supported by a named claim expert service model and the MITRA mobile app.

Ownership category

akta.pro rank

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Commission: MITRA earns the standard regulated commission from insurers when an eligible policy is issued or renewed. The customer does not pay an added advisory or claim-support fee. Premiums are identical across distribution routes.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Mitra is an IRDAI-registered insurance intermediary that distributes health, life, home, and cyber insurance policies from 30+ insurers across India, and pairs every eligible policy with a dedicated human claim expert who manages paperwork, hospital/TPA coordination, and settlement end-to-end. Advisory consultations, portability reviews, and claims support are provided free of charge to customers, with revenue generated from standard regulated commissions paid by insurers. The MITRA mobile app extends the service with live claim tracking, centralized policy storage, and member benefits including wellness offers and gift cards across 400+ brands.

Product overview

MITRA is an insurance advisory platform offering health, life, home, and cyber insurance products through a curated shortlist from 30+ IRDAI-registered insurers. The core offering combines insurance product distribution with ongoing claims support services, where every eligible policy comes with a dedicated human claim expert who handles documentation, hospital/insurer coordination, and settlement follow-up from intimation through final resolution. The product portfolio includes Health Insurance (family floater, individual, and super top-up), Life Insurance (term insurance, riders, and endowment plans), Home Insurance (structure and contents), and Cyber Insurance (personal coverage via Universal Sompo). Additional tools include health and term cover calculators for sizing appropriate coverage, and a mobile app for real-time claim tracking and policy management. MITRA is the retail insurance brand of Healthysure, part of the Bharatsure group, registered with IRDAI under CA0785.

Differentiator

Problem solved

Functional benefit

Products and services

• Health Insurance Health insurance advisory and distribution covering family floater, individual, and super top-up structures from 30+ IRDAI-registered insurers in India, paired with end-to-end claim support.
• Life Insurance Life insurance advisory and distribution covering term insurance, term riders, and endowment & savings plans from 30+ IRDAI-registered insurers, designed to protect dependents' income.
• Home Insurance Home insurance covering structure (building and permanent fixtures) and contents (furniture, appliances, personal belongings) against fire, natural calamities, and burglary, distributed with advisory and claims support.
• Cyber Insurance Personal cyber insurance underwritten by Universal Sompo General Insurance, covering theft of funds, identity theft, cyber extortion, and online shopping fraud, available in five sum insured tiers from ₹25,000 to ₹10 lakh on a 12-month term.
• Claims Support Service Dedicated named-claim-expert service that handles paperwork, hospital/TPA/insurer coordination, document verification, and settlement explanations from intimation to final settlement, included free with eligible policies.

Quantifiable outcome

• Claims settled within 48 hours (as per customer testimonials)
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Universal Sompo General InsurancecoreTechnology or IntegrationUniversal Sompo General Insurance underwrites and issues the personal cyber insurance policy arranged through the Bharatsure partner network. MITRA supports policy explanation and claim coordination for customers. The policy covers theft of funds, identity theft, cyber extortion and online shopping fraud with sum insured options from ₹25,000 to ₹10 lakh.
• 30+ IRDAI-Registered InsurerscoreChannel Partner/ Reseller/ DistributorMITRA works with 30+ leading IRDAI-registered insurers across health, life, home and cyber insurance. As an independent intermediary not owned by any insurer, MITRA can provide neutral advisory and shortlist recommendations based on customer fit rather than product targets.
• Insurance Advisors, Firms and PlatformscoreChannel Partner/ Reseller/ DistributorPartnership program for insurance advisors, POSPs, firms and digital platforms to offer MITRA-backed insurance products with dedicated claims support. Routes include POSP certification, referral, Corporate Agent, IMF and embedded models. Partners can keep customer relationships while MITRA handles insurance operations and claims.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• PolicyBazaar (PB Fintech): India's largest online insurance aggregator offering comparison and direct purchase across health, life, motor and other lines. Directly competes with MITRA for the same individual and family insurance-buying customer, but with a self-service rather than advisory-led model.
• Turtlemint: Insurance advisor platform in India using a POSP and partner-firm model to distribute multi-line insurance products. Closely comparable to MITRA's advisor-network distribution approach, though Turtlemint focuses more on advisor enablement than end-customer claims support.
• Coverfox: Insurance comparison and advisory platform (now part of PhonePe) distributing health, life, motor and other policies online. Direct competitor in multi-line online insurance advisory for Indian consumers.
• InsuranceDekho: Insurance distribution platform offering multi-line insurance products from multiple Indian insurers. Competes with MITRA for the same independent intermediary channel and individual buyer segment.
• RenewBuy: Insurance aggregator and distribution platform offering health, life, motor and other insurance products in India. Direct competitor in multi-line online insurance distribution.

Emerging players

• Acko: New-age digital-first Indian insurer selling its own health, motor and travel products with embedded distribution. Overlaps with MITRA in digital-first multi-line insurance but as a carrier rather than an independent intermediary.
• Digit Insurance: Digital-first multi-line Indian insurer using direct-to-consumer and partner distribution. Overlaps with MITRA in the same customer segments but operates as a carrier rather than an independent broker.

Broad incumbents

• HDFC Life Insurance: One of India's largest life insurers with proprietary bancassurance and agent distribution. Many of its life products are distributed through independent intermediaries like MITRA, making it a relevant incumbent partner-competitor.
• Life Insurance Corporation of India (LIC): India's largest life insurer operating a massive captive agent network. Represents the dominant incumbent distribution model that MITRA's advisor-and-tech hybrid is positioned against in the life segment.

Others

• Onsurity: Employee health benefits and group insurance platform in India. Adjacent rather than directly competitive: serves SMEs and employers for group cover, whereas MITRA targets retail individuals and families, but both operate in the Indian health insurance ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

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 Mitra