India’s insurance ecosystem stands at a critical inflection point. With just 3.7% overall insurance penetration, compared to the global average of 7.4%, the world's most populous nation faces a mortality protection gap of $40.4 billion (in premium equivalent terms) as of 2021, according to Swiss Re Institute estimates.
Digital infrastructure is finally catching up with over a billion smartphone users and more than half the population with internet access. Combined with IRDAI’s push for digital KYC and innovation sandboxes, this is setting the stage for scalable, tech-first insurance models.
Leading the way are insurtech companies in India, bringing smarter, faster, and more inclusive solutions to the forefront through digital experiences.
What Are Insurtech Companies?
Insurtechs blend insurance with technology to address long-standing industry challenges like limited insurance penetration, lack of intuitiveness, legacy products and delayed claims cycles. They deploy AI, machine learning and data analytics to transform traditionally paper-heavy, human-dependent processes into streamlined digital insurance experiences.
Leading Insurtech Companies Transforming India's Insurance Landscape
The following ten best insurtech companies in India represent the vanguard of insurance technology innovation, each addressing unique challenges within the insurance ecosystem:
Zopper
With over 14 years in the industry, Zopper (Solvy Tech Solutions Pvt. Ltd.) has emerged as a leading insurtech provider, enabling businesses to embed insurance seamlessly within their existing user journeys. Its API-first platforms are built to serve banks, NBFCs, MFIs, OEMs, retailers, and digital-first brands, helping them offer contextual insurance products to customers, exactly where and when they need them.
Today, Zopper works with over 2,500 partners, including brands like Hitachi, Xiaomi, Croma, and Godrej for the assurance business. Their tech-led solutions have helped reduce policy issuance time by 75%, driven a 2.5x increase in cross-sell conversions, and improved customer lifetime value for partners. With modular, sachet-style products spanning categories like travel, consumer tech, and fintech, Zopper is not only boosting insurance uptake but also reshaping how insurance is distributed in India.
SecureNow
Since 2011, SecureNow has quietly built a reputation for making commercial insurance more accessible to small and mid-sized businesses. With a strong tech backbone and a focus on pure-risk products, they’ve helped bridge a key gap in the market, offering not just fair coverage but also reliable claims support when it matters most.
Riskcovry
Since 2018, Riskcovry has built a digital platform that enables banks, financial institutions, and startups to embed insurance into their existing offerings. With a focus on simplifying distribution through what they call an “insurance-in-a-box” model, they’ve partnered with over 40 enterprises across 10+ sectors and enabled sale of over 100,000 insurance policies, reflecting the growing demand for embedded insurance solutions in the Indian market.
Heph by InsuranceDekho
Heph is a recent offering by the renowned online insurance aggregator, InsuranceDekho, that focuses on digitising insurance distribution through a unified tech layer. With access to over 600 plans, it enables partners to integrate insurance products seamlessly into their existing workflows. The platform also includes tools for onboarding, comparison, and policy issuance, offering scalable insurance technology solutions for banks, NBFCs, and consumer internet companies operating across the country.
PolicyBazaar
Since 2008, PolicyBazaar has grown into one of India’s most trusted insurance marketplaces. Their digital-first platform empowers users to compare life, health, motor, and other insurance products with ease, helping them make confident, well-informed decisions. Over time, they have extended their presence to include offline advisory and renewal services in tier 2 and tier 3 markets, making it one of the few players blending digital scale with human support for mass adoption.
Acko General Insurance
Among the earlier digital players in the insurtech market in India, Acko follows a direct-to-customer model without relying on traditional agents or branch infrastructure. It offers products across auto, health, and travel insurance, emphasising minimal paperwork and quick claims processing. Their digital-only distribution reflects ongoing shifts in how insurance technology solutions are being delivered at scale.
BimaKavach
BimaKavach focuses on emerging business risk categories, including cyber insurance, D&O liability, and intellectual property protection. By demystifying complex coverage options and offering concierge-like onboarding, BimaKavach acts as a trusted advisor for founders navigating business risks. It’s a niche player, but one filling a critical gap in India’s startup infrastructure.
Coverfox
Coverfox is an online insurance marketplace offering health, automobile, and travel insurance products. The platform enables users to compare policies from multiple insurers based on coverage and pricing, focusing on simplifying choices through transparent information. It represents how digital insurance platforms are evolving to make policy discovery more accessible.
Plum Insurance
Plum focuses on making group health insurance more accessible for startups and tech-driven businesses. Known for their fast onboarding and Slack-based support, it positions employee health benefits in a way that mirrors SaaS-like convenience. With coverage extended to over 3,000 companies, Plum’s presence highlights how insurtech companies in India are catering to modern workforce expectations.
Turtlemint
Founded in 2015, Turtlemint is a digital insurance aggregator platform that provides digital tools to enhance the buying experience for both advisors and customers. Their partnership with 40+ insurers and 3 lakh+ advisors ensures a seamless experience across car, bike, health and life insurance.
Where We're Headed
As India’s insurance landscape continues to evolve, embedded insurance platforms like Zopper are poised to define the next growth phase. By offering low-friction, context-aware insurance exactly where consumers are already transacting, these platforms solve the hardest distribution problem in Indian insurance: access.
At Zopper, we see technology as the central force in insurance innovation and distribution. We’re focused on building tools that empower the insurance ecosystem with tangible, future-proof solutions. From full digital API stacks and campaign management to business reporting and claims management, we’re rewriting what’s possible in insurance.
Frequently Asked Questions
Q1. What services do insurtech companies in India offer?
Answer: Insurtech companies in India provide a diverse array of services, such as online insurance comparisons, simplified claims processing, and tailored insurance solutions, all driven by technologies including AI, data analytics, and blockchain. These firms may offer some or all of these services collectively.
Q2. How do insurtech companies in India improve their customer experience?
Answer: Leading insurtech firms in India have dramatically transformed the customer journey by eliminating traditional pain points. They offer intuitive interfaces that simplify complex policies, provide instant quotes from multiple insurers, enable paperless policy issuance in minutes, and allow seamless digital claims submission.
Q3. Can I purchase an insurance policy online from insurtech companies?
Answer: Not all insurtech companies in India sell insurance policies online. Full-stack players like Acko sell policies directly. Brokers and aggregators like PolicyBazaar help you compare and buy from traditional insurers. Others like Zopper work behind the scenes, enabling insurance through partner apps or platforms.
Q4. Do insurtech companies cater to rural India?
Answer: Yes, rather than trying to force urban models onto rural markets, leading insurtech firms in India are creating rural-ready solutions with affordable sachet plans, vernacular UX, and assisted agent models tailored to local contexts.
Q5. How secure is my data when using insurtech platforms?
Answer: Legitimate insurtech companies in India implement bank-grade security measures that often exceed traditional insurers:
End-to-end encryption and multi-factor authentication to prevent unauthorised access
Tokenisation of payment information to prevent storage of actual card details
Compliance with both IRDAI regulations and data protection laws
