Best Insurance Distribution Companies in India
The 351 best Insurance Distribution companies in India in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Religare.
$1.8 billion in combined revenue across 338 filers. That's the real number behind Insurance Distribution in India, and it's the figure you should keep in mind as you scan this directory of 351 tracked companies, ranked by disclosed equity funding and recent momentum.
The sector's median revenue sits at $502,141 with 17% YoY growth, but the outsized earners tell a different story. Maruti Suzuki Insurance Broking pulled $240M last year, up 41%. Mahindra Insurance Brokers hit $127M, up a staggering 168%. Ace Insurance Brokers booked $36M in net income alone, 914 times the sector median of $39,564. So when people talk about insurance distribution as a cottage industry, these filings say otherwise. On the funding side, Religare leads at $336M disclosed, with RenewBuy at $141M, and the broader global market is forecast to grow from roughly $210.4B to $337.3B by 2029 at an 8.24% CAGR. Meanwhile, Turtlemint's updated DRHP filing with SEBI and Dhan's acquisition of Greenlife Broking signal that consolidation is actively reshaping who controls distribution in this market. I'd watch those two moves closely.
Our analysis of 50 Insurance Distribution companies
$16.7b in tracked funding; 79% of the stack-profiled cohort runs cloud-native; funding activity peaked in 2024.
Ranked: Best Insurance Distribution companies in India
| # | Company | Revenue | Disclosed funding | Revenue YoY | Employees | Founded | Founder | Market signals (1y) | Recent signals |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Edelweiss Provider of investment management, SME loans, and insurance services | $1.1B FY2025 | — | +9231% | 13 | 1995 | Rashesh Shah Co-Founder | 5 signals ▼29% Funding · Acquisition · M&A | — |
| 2 | Religare Provider of online trading platform for stocks, commodities, and investment products | $606M FY2023 | $336M | +44% | 1,368 | 1984 | Gurpreet Sidana CEO | 12 signals ▼88% Leadership · Regulatory · Earnings | — |
| 3 | Mahindra Insurance Brokers Provider of diversified insurance brokerage services | $132M FY2024 | $15M | +157% | 683 683 → 937 (+37%) | 2004 | Anand Mahindra Founder | — | 1 launch |
| 4 | RenewBuy Retailer of insurance products, including health, life, motor, and OPD | $52M FY2025 | $141M | — | 4,647 | 2015 | Devesh Joshi Co-Founder & Marketing Head | — | — |
| 5 | Probus Insurance Provider of online platform for comparing and purchasing various insurance plans | $47M FY2025 | $7M | +45% | 199 | 2002 | Rakesh Goyal Founder & Director | — | — |
| 6 | Ace Insurance Brokers Provider of risk mitigation and insurance solutions for businesses | $43M FY2025 | — | +41% | 282 282 → 367 (+30%) | 2001 | Anil Arora Co-Founder & Director | — | — |
| 7 | Anviti Insurance Brokers Provider of health and P&C insurance brokerage services | $39M FY2024 | — | +37% | 510 | 2016 | Rakesh Malik CEO | — | — |
| 8 | Alliance Provider of insurance brokerage services | $22M FY2025 | $11M | +12% | 449 449 → 622 (+39%) | 2003 | Aatur Thakkar Co-Founder | 4 signals Leadership | 1 award |
| 9 | Edelweiss P&C insurance broker | $11M FY2025 | — | +112% | 481 | 2005 | Rashesh Shah Co-Founder & Co-CEO | 4 signals ▼64% Earnings · Announcements · M&A | — |
| 10 | Beacon Provider of insurance broking services for direct and reinsurance business | $11M FY2025 | $26K | +16% | 707 | 2005 | Sanjeet Rustagi Managing Director | — | — |
| 11 | Ideal Insurance Brokers Provider of insurance portfolio management services and brokerage solutions for clients across both life and… | $9M FY2025 | $2M | +10% | 196 196 → 387 (+97%) | 2005 | Sandeep Modi Co-Founder & Director | — | 1 award |
| 12 | AB Insurance Brokers Provider of life and general health insurance services | $7M FY2025 | — | +14% | 1,330 | 2011 | — | — | — |
| 13 | Optima Insurance Brokers Manufacturer of custom precision optical lenses and assemblies | $5M FY2025 | $254K | +21% | — | 2001 | — | — | — |
| 14 | Raghnall Provider of personal and commercial insurance brokerage services | $4M FY2025 | — | +25% | 66 66 → 144 (+118%) | 2014 | Yagnesh Dosshi Founder and Director | — | 1 partnership |
| 15 | Xperitus Provider of insurance brokering and risk managment services | $3M FY2025 | $774K | +5% | 99 | 2003 | Girish Anand Founder & CEO | — | — |
| 16 | Adroit Auto Provider of comprehensive automobile inspection, valuation, certification, and other services to clients | $3M FY2025 | — | +18% | 231 231 → 165 (-29%) | 2005 | Nitesh Chinoy CEO | — | — |
| 17 | Infinity Assurance Solutions Warranty Management Service provider | $2M FY2025 | $603K | +11% | 16 16 → 36 (+125%) | 2013 | Rajesh Goel Co-Founder & CEO | — | 1 job opening |
| 18 | Anar Insurance Provider of general & life insurance services | $1M FY2025 | — | +10% | 5 | 2015 | Rajiv Vastupal Founder | — | — |
| 19 | 3 Dimensional Insurance Brokers Association focused on providing insurance broking services | $1M FY2025 | — | +290% | — | 2016 | K S Nair Co-CEO | — | — |
| 20 | Arion Insurance Brokers Provider of property, marine, motor, travel & liability insurance services | $1M FY2025 | — | +224% | — | 2015 | Safrula Ahmad Founder Director | — | — |
| 21 | Advance Life Insurance Brokers Provider of life, health, home, car & travel insurance services | $1M FY2025 | — | -60% | 14 | 2015 | Joydeep Majumdar Co Founder and Director | — | — |
| 22 | Amicus Insurance Diversified insurance brokerage firm | $841K FY2021 | — | +28% | 2 | 2008 | — | — | — |
| 23 | AAIRB Provider of insurance & reinsurance brokerage services | $799K FY2025 | — | -8% | — | 2004 | Jay Thakker Managing Director | — | — |
| 24 | Aparys Insurance Broking Provider of health, life & motor insurance services | $625K FY2025 | — | +120% | — | 2017 | Ajay Sharma Managing Director | — | — |
| 25 | Apex Insurance Broking Services Provider of life & general insurance services | $619K FY2025 | — | +45% | — | 2015 | Pratap Mohan CEO | — | — |
| 26 | Apna Insurance Provider of car, bike, travel & health insurance services | $484K FY2025 | — | +4% | — | 2015 | — | — | 1 partnership · 1 award |
| 27 | Arunaya Insurance Brokers Provider of motor, health, travel, personal & life insurance services | $460K FY2025 | — | +25% | — | 2014 | Rakesh Kedia Owner | — | — |
| 28 | Amaze Insurance Brokers Diversified insurance distributor | $363K FY2025 | — | -25% | — | 2016 | muralidhara reddy CEO & MD | — | — |
| 29 | Apis Nandi Provider of insurance and risk management services | $261K FY2025 | — | -5% | — | 2008 | Sanjiv Dobhal Founder | — | — |
Top 12 Insurance Distribution companies in India
#1
Series D · Gurugram, Haryana · founded 2015 · 4647 employees$140.7Mraised▾
Retailer of insurance products, including health, life, motor, and OPD. The company offers a platform for comparing and purchasing various insurance policies. It provides resources related to claims, renewals, and general insurance information. The platform also facilitates access to auto loans and advisor services.
- Jun 2025Series D$10M
- Jun 2023Series D$40M
- Nov 2022Venture Debt—
- Nov 2022Series D$8.3M
#2
Public · Noida, Uttar Pradesh · founded 1984 · 1368 employees$336.3Mraised▾
Provider of online trading platform for stocks, commodities, and investment products.. With a focus on online trading of stocks and commodities, Religare offers valuable market insights and support services to investors.
- Jan 2024Post IPO$37.1M
- Jun 2021Post IPO$78.3M
- Feb 2020Post IPO$28M
- Feb 2018Post IPO$141.9M
#3
Seed · Kolkata, West Bengal · founded 2005 · 196 employees$2Mraised▾
Provider of insurance portfolio management services and brokerage solutions for clients across both life and general insurance categories. Insurance solutions to mitigate risks and protect assets and liabilities for businesses. It provides a range of insurance solutions, including life, health, and general insurance products, for individuals and businesses across various regions. It focuses on risk management solutions for assets and liabilities.
- Mar 2024Seed$963.8K
- Sep 2020Seed—
- Apr 2018Seed$1M
- Jul 2017Seed—
#4
Funding Raised · Bengaluru, Karnataka · founded 2022$59.7Kraised▾
Provider of life insurance solutions for workers
- Jul 2024Grant (prize money)$59.7K
#5
Series A · Mumbai, Maharashtra · founded 2002 · 199 employees$6.7Mraised▾
Provider of online platform for comparing and purchasing various insurance plans. The platform offers options for life, health, motor, travel, property, and rural insurance. It also provides investment plans, including pension plans, ULIPs, endowment policies, and guaranteed return plans. The platform facilitates policy renewals and claim filing.
- Dec 2021Series A$6.7M
#6
Series A · Mumbai, Maharashtra · founded 2004 · 683 employees$14.9Mraised▾
Provider of diversified insurance brokerage services. It provides a comprehensive suite of insurance products, including personal lines, commercial lines, and reinsurance. The broker works with various insurance companies to offer customized solutions tailored to individual and corporate clients' needs. It services extend from risk assessment and policy selection to claims administration, ensuring clients receive support throughout the insurance lifecycle. The firm also facilitates partnerships with other businesses to expand insurance access and create employment opportunities. They offer both online and in-person services.
- Sep 2012Series A$14.8M
#7
Series A · Mumbai, Maharashtra · founded 2003 · 449 employees$10.8Mraised▾
Provider of insurance brokerage services. Its other services include aviation and aerospace, infrastructure, energy, media, entertainment, sports, audit, risk assessment and claims management. And also offers commercial motor insurance services.
- Mar 2016Series A$8.2M
- Oct 2015Series A$2.6M
#8
Seed · Mumbai, Maharashtra · founded 2003 · 99 employees$773.9Kraised▾
Provider of insurance brokering and risk managment services
- Jun 2020Angel$569.7K
- Mar 2015Angel$204.2K
#9
Seed · Delhi, Delhi · founded 2013 · 16 employees$603.3Kraised▾
Warranty Management Service provider
- May 2015Seed$603.3K
#10
Seed · Delhi, Delhi · founded 2001$254Kraised▾
Manufacturer of custom precision optical lenses and assemblies. It designs and manufactures a variety of optical components, including aspherical, cylindrical, spherical, and plano lenses. The company also offers design engineering services and assembly capabilities, including work in cleanroom environments. Its services extend to prototyping and production volumes, providing flexible design and delivery options to meet diverse customer needs across various markets such as medical, life sciences, and aerospace. In-house coating capabilities complete the optical component product line. A rapid prototyping program allows for quick turnaround times on custom designs.
- May 2014Angel$254K
#11
Seed · Vadodara, Gujarat · founded 2005 · 707 employees$26.3Kraised▾
Provider of insurance broking services for direct and reinsurance business. It facilitates transactions in both direct and reinsurance sectors. The firm offers services encompassing life insurance, general insurance, and reinsurance, providing risk management, tailored insurance solutions, and responsive claims services. It maintains affiliations to expand global reach and access to international markets. The firm prioritizes client needs and aims to build lasting partnerships.
- Aug 2022Angel$26.3K
#12
Seed · Kolkata, West Bengal · founded 2015 · 27 employees$13Kraised▾
Provider of wealth management and financial planning services. It offers services encompassing mutual fund investments, portfolio management, life and health insurance planning, and tax optimization strategies. The firm assists clients in wealth creation through diversified investment portfolios and risk management techniques. Additionally, it provides support for legacy planning and facilitates processes like KYC registration and CAN creation. The services aim to help individuals build and manage their finances effectively.
- Jul 2018Angel$13K
Funding & investor landscape
Notable founders
Market landscape — 10 sub-themes by coverage
Share of Insurance Distribution coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
How research on Insurtech is moving in India
A read on the academic research around Insurtech — which themes are gaining ground, the institutions and researchers driving them, and how the tone is shifting. Based on 25 India-affiliated papers.
- Maharshi Dayanand University2
- Amity University2
- Vellore Institute of Technology University2
- Lovely Professional University2
- Graphic Era University2
- Interpretability1
- Wearable computer1
- Advanced driver assistance systems1
- Global Positioning System1
- Automobile insurance1
- Context (archaeology)2
- Telematics1
- Novelty1
- Exploratory research1
- Moral hazard1
- Momentum (technical analysis)1
- Key (lock)1
- Development economics1
- Computer security1
- Digital transformation1
Common questions
Riya reads income statements for fun. She covers the real money in a sector — revenue, growth, who actually earns — and never met a vague claim she didn't want a number for.