India’s insurance market is worth $108 billion, with a 3:1 split between life and non life products. Unlike life insurance, non-life insurance sector is dominated by multiple private players who rely heavily on institutional partners such as corporate agents, brokers and direct sales to distribute insurance – usually through a non-digital, manual manner or through individual digital platforms and with long go-live times. Riskcovry’s API based approach to insurance distribution enables these private insurance manufacturers to connect with a network of distributors seamlessly.

With a highly contextual team that brings decades of experience from working in the insurance industry and building tech products at scale, the Riskcovry team has demonstrated strong traction, with overall GWP through its API infra pipes growing significantly since our investment. The company also has ambitions of serving markets across GCC, SEA, and North America.