Company lists
The Mumbai edition · 2026

InsurTechcompanies in Mumbai

Comparison, insurance software, BFSI sales, employee benefits, loans & wealth and more: the companies building insurtech in Mumbai, Maharashtra, with their founders, funding, team size and business models.

118 company profiles59 with reported revenue36 with recorded fundingOctober 2026 edition
Mumbai · Photo: Wikimedia Commons (Creative Commons Attribution-ShareAlike 4.0)

Recent insurtech business events in India

Funding, M&A, contract wins and launches involving 711 insurtech companies in India, last 24 months: 26 funding rounds · 21 M&A deals · 13 launches · 1 Contract. Newest first; companies and investors link to their Fliar profiles. Latest event in our news feed: May 2026.

M&AAcquisition · Completed

Raise financial services acquires GreenLife Insurance Broking

Raise Financial Services, the holding company of the stock trading platform Dhan, has recently acquired GreenLife Insurance Broking as part of its formal entry into the insurance…

Insurance
M&AAcquisition · Announced

Raise Financial acquires GreenLife Insurance

Raise Financial, parent of online stock broking platform Dhan, has acquired GreenLife Insurance, its third buyout in just over a year, marking its entry into insurance broking. The…

Insurance broking
LaunchAutonomous Customer Operations Platform

Talisma

Talisma has launched its latest platform, the Autonomous Customer Operations Platform, to ease AI adoption in financial services and education sectors.

LaunchZENOVA

Zopper

Zopper, India’s leading insurtech company, announced the launch of ZENOVA, an agentic layer designed to transform how banks distribute insurance products.

Insurance distribution layer
Funding

Acko General Insurance

ACKO has raised $598 million — the highest among all funded InsurTech companies in India as of January 2026.

InsurTech
Funding

Care.Fi

Care.fi landed $8 million to help hospitals in India run better and faster…

Health
FundingQIP

Pb fintech

PB Fintech Ltd, the parent of Policybazaar, said on Monday that its board will meet on 5 February to consider raising capital through a qualified institutional placement (QIP) to fund…

M&AAcquisition · Announced

Care.Fi acquires Aldun

Care.fi, a healthcare-focussed fintech founded by Vikrant Agrawal and Sidak Singh, announced its acquisition of Aldun, a discharge-automation platform known for enabling near-instant,…

Healthcare Software
FundingSeries D

Arya

With farmers facing greater climate‑related threats to their livelihoods, the company is expanding its services with funding from climate‑focused GEF Capital Partners, a spinout from the…

Agtech
M&AMerger · Announced

Go Digit General Insurance acquires Go Digit Infoworks Services

Go Digit General Insurance’s board has approved the amalgamation of its holding company, Go Digit Infoworks Services, into the listed entity.

IT Consulting
FundingPreferential Issue

Medi Assist Healthcare Services

Shardul Amarchand Mangaldas & Co. (SAM) advised Medi Assist Healthcare Services Limited (“Medi Assist”) on its ~INR 198 crores fundraise through preferential issue of equity shares to…

Investors Massachusetts Institute of Technology, 238 Plan Associates
Healthcare Services
M&AAcquisition · Completed

Info edge acquires Pb fintech

Info Edge acquired an additional 6.47% stake in PB Fintech through an NCLT-approved amalgamation process

Fintech
M&AAcquisition · Announced

Girnar finserv acquires SeedsAI

Girnar Finserv Private Limited (GFPL), an affiliate of InsuranceDekho, today announced the acquisition of SeedsAI, a SaaS platform specializing in LLM orchestration and AI automation.

SaaS platform for LLM orchestration and AI automation
M&AAcquisition · Completed

Federal bank acquires Ageas federal life insurance

Federal Bank has acquired an additional 3,20,00,000 equity shares (4%) of Ageas Federal Life Insurance Company (AFLIC) from Ageas Insurance International NV at a price of Rs. 30.45 per…

Life insurance
LaunchNexus 360

Perfios

Indian B2B Software as a Service (SaaS) firm Perfios has expanded its Nexus 360 credit decisioning platform across South East Asia.

Credit decisioning platform
FundingPreferential Allotment

Medi Assist Healthcare Services

Medi Assist Healthcare Services Ltd has secured ₹198 crore from the Massachusetts Institute of Technology and its affiliate 238 Plan Associates LLC through a preferential allotment, the…

Investors Massachusetts Institute of Technology, 238 Plan Associates
Health Benefits Administration
LaunchSureMatch

Impactsure technologies

Impactsure Technologies, a leading global provider of AI-driven solutions for banking and financial services, today announced the launch of SureMatch, its next-generation Agentic AI…

Agentic AI platform for Global Trade
LaunchReserve Pay

Navi

Navi announced two new UPI features today based on yesterday’s UPI product launches. Reserve Pay and EV Recharge via Banking Connect will now soon be featured on Navi’s app.

UPI Feature
M&ACompleted

Na acquires Medi Assist Healthcare Services

Bessemer India Capital Holdings II Ltd. has sold 1.11 crore equity shares, representing 15.67% of the total share/voting capital, in Medi Assist Healthcare Services Limited.

M&AAcquisition · Announced

Pb fintech acquires Pensionbazaar.com

PB Fintech has acquired Pensionbazaar.com

FundingSecondary Transaction

Acko

The family office of cricketer MS Dhoni has invested in insurtech unicorn Acko, participating in a secondary transaction.

Investors Dhoni Family Office
InsurTech
FundingDebt funding

Navi technologies

Fintech unicorn Navi Technologies has secured ₹170 crore (approximately $20 million) through a debt funding round led by PhillipCapital, with participation from NDX Finserve, Arpee…

Investors Phillipcapital, NDX Finserve, Arpee Group, Ambit finvest
Fintech
Funding

Bharatsure

Bharatsure, one of India’s leading Insurtech companies offering Infrastructure as a Service (IaaS) solutions has raised INR 6 Crores from Inflection Point Ventures (IPV) and other…

Insurtech
FundingGrowth

Credit wise capital

Moving to India, Credit Wise Capital, a consumer lending platform focused on financing two-wheelers and EVs, raised $23.3 million in a growth funding round.

Consumer Lending
LaunchVahana Hub

Decimal technologies

Decimal Technologies announced the strategic revamp of Vahana Hub into a public marketplace of APIs and composable apps.

Public marketplace of APIs and composable apps
Funding

Renewbuy

Insurtech startup Renewbuy has raised $10 million (approx. ₹86 crore) in fresh funding from its existing investors, Apis Partners and 360 One (formerly IIFL Wealth), according to sources…

Insurtech
M&AMerger · Announced

Renewbuy acquires Insurancedekho

The fresh capital will strengthen operations and fuel expansion as the company advances its proposed merger with InsuranceDekho, a deal that could value Renewbuy at $300–350 million.

LaunchLife Insurance

Quickinsure

Quickinsure, a digital-first insurance broker, has announced two key initiatives aimed at expanding insurance access across India: the addition of life insurance to its growing product…

Insurance

InsurTech companies in Mumbai, by revenue

Browse insurtech companies in Mumbai by reported revenue, one-year revenue growth, revenue model, age and stage. The 50 companies below are the largest by their most recent reported revenue among 59 insurtech companies in Mumbai, Maharashtra that have filed a figure in the last four years. Every figure keeps its own reporting period, so compare periods before comparing amounts.

Showing 25 of 50

AI powered product lifecycle management platform

Consumer electronics e-commerce
₹786.91 crFY 2024-25
Not reported
532-5% 12 mo to Jul 2024LinkedIn · Jul 2026
11 yr2015
0none in 3 months

Provider of platform for comparing and purchasing insurance, loans, and funds

Internet first insurance platforms
₹693.21 crFY 2024-25
+482%2024–2025
2,608-16% 12 mo to Aug 2024LinkedIn · Jul 2026
11 yr2015
0none in 3 months

Provider of doorstep repair and maintenance services for electronic devices and home appliances

Internet first insurance platforms
₹677.18 crFY 2024-25
+183%2024–2025
799-3% 12 mo to Sep 2024LinkedIn · Jul 2026
16 yr2010
6postings · last posted Sep 2026

Provider of protection plans and repair services for electronic devices

Consumer electronics e-commerce
₹633.45 crFY 2024-25
+18%2024–2025
719-9% 12 mo to Feb 2024LinkedIn · Jul 2026
15 yr2011
0none in 3 months

Online platform for insurance comparison

Internet first insurance platforms
₹279.96 crFY 2024-25
+28%2024–2025
619-22% 12 mo to Sep 2024LinkedIn · Jul 2026
25 yr2001
7postings · last posted Sep 2026

Platform offering insurance products and services

Internet first insurance platforms
₹137.51 crFY 2024-25
+18%2024–2025
4-76% 12 mo to Sep 2024LinkedIn · Jul 2026
15 yr2011
0none in 3 months

Provider of loans and vehicle-related services via digital platforms

Insurance it
₹127.25 crFY 2024-25
+15%2024–2025
248+8% 12 mo to Sep 2024LinkedIn · Jul 2026
7 yr2019
0none in 3 months

Online comparison and management platform for insurance policies

Internet first insurance platforms
₹109.20 crFY 2024-25
+16%2024–2025
529+4% 12 mo to Sep 2024LinkedIn · Jul 2026
18 yr2008
2postings · last posted Sep 2026

Insurance Repository

Internet first insurance platforms
₹101.71 crFY 2024-25
+8%2024–2025
125-2% 12 mo to Sep 2024recorded Sep 2024
15 yr2011
0none in 3 months

Health insurance platform for individuals

Internet first insurance platforms
₹87.19 crFY 2022-23
+1691%2022–2023
228-75% 12 mo to Apr 2024LinkedIn · Jul 2026
7 yr2019
0none in 3 months

Software suite for the insurance industry

Insurance it
₹82.97 crFY 2024-25
-19%2024–2025
362+5% 12 mo to Jul 2024LinkedIn · Jul 2026
19 yr2007
3postings · last posted Sep 2026

Provider of platform to compare and purchase various insurance policies online

Internet first insurance platforms
₹61.63 crFY 2024-25
+325%2024–2025
499+72% 12 mo to Sep 2024LinkedIn · Jul 2026
13 yr2013
2postings · last posted Aug 2026

Insurtech platform providing no-code, plug-and-play insurance infrastructure solutions

Insurance it
₹56.00 crFY 2024-25
Not reported
54-17% 12 mo to Aug 2024LinkedIn · Jul 2026
16 yr2010
1postings · last posted Sep 2026

Provider of a platform for digital insurance distribution and management

Insurance it
₹45.99 crFY 2024-25
+116%2024–2025
137+20% 12 mo to Sep 2024LinkedIn · Jul 2026
8 yr2018
4postings · last posted Sep 2026

Provider of insurance products across various industries and business types

Insurance it
US$4.44mFY 2022-23
+181%2022–2023
105-4% 12 mo to Jun 2024LinkedIn · Jul 2026
9 yr2017
0none in 3 months · last posted May 2026

Insurance comparison broker

Internet first insurance platforms
₹37.02 crFY 2024-25
-38%2024–2025
32+55% 12 mo to Sep 2024LinkedIn · Jul 2026
9 yr2017
0none in 3 months · last posted Jun 2026

Provider of a B2B platform for financial product distribution

Internet first insurance platforms
₹34.59 crFY 2024-25
+30%2024–2025
91+525% 12 mo to Sep 2024LinkedIn · Jul 2026
5 yr2021
0none in 3 months · last posted Jul 2026

Provider of diversified insurance solutions

Internet first insurance platforms
₹29.24 crFY 2024-25
+591%2024–2025
20LinkedIn · Jul 2026
13 yr2013
0none in 3 months · last posted Jun 2026

Provider of financial services

Internet first insurance platforms
₹22.87 crFY 2024-25
-54%2024–2025
12LinkedIn · Jul 2026
6 yr2020
0none in 3 months

Provider of sales incentive compensation management platform and managed services

Sales force automation
₹20.37 crFY 2022-23
+74%2022–2023
85+38% 12 mo to Sep 2024LinkedIn · Jul 2026
24 yr2002
0none in 3 months

Online insurance comparison platform for individuals

Internet first insurance platforms
₹20.11 crFY 2024-25
+10%2024–2025
63LinkedIn · Jul 2026
18 yr2008
0none in 3 months

Insurance suite solutions

Insurance it
₹19.31 crFY 2024-25
-19%2024–2025
300LinkedIn · Jul 2026
9 yr2017
1postings · last posted Aug 2026

Provider of AI-powered digital solutions for BFSI sales and operations

Insurance it
₹14.24 crFY 2024-25
-18%2024–2025
58-39% 12 mo to Feb 2024LinkedIn · Jul 2026
9 yr2017
0none in 3 months

Online insurance comparison platform

Internet first insurance platforms
₹12.81 crFY 2024-25
+47%2024–2025
105-10% 12 mo to Sep 2024LinkedIn · Jul 2026
9 yr2017
0none in 3 months

Comparison platform for insurance products

Internet first insurance platforms
₹11.15 crFY 2021-22
Not reported
59-31% 12 mo to Sep 2024recorded Sep 2024
12 yr2014
0none in 3 months
50 of 118 companies shown here · the full list is on Radar
Fliar Radar

Explore all 118 insurtech companies in Mumbai on Radar

This page shows the top 50. Radar has the complete, filterable list with contacts and live company signals.

Open insurtech in Mumbai on Radar
  • Every company, not just 50All 118 insurtech companies in Mumbai, filterable by stage, funding, team size, revenue model and age.
  • Founders and decision-makersLeadership teams with roles and verified LinkedIn profiles, ready for outreach.
  • Live signalsFunding rounds, hiring, launches and M&A as they happen, with alerts on the companies you follow.
  • Save and exportBuild lists, compare companies side by side and export them from your Radar account.

Explore insurtech companies in Mumbai by what you are looking for

Browse insurtech companies in Mumbai, from insurance comparison platforms to insurance software providers. You can also find insurtech startups in Mumbai and employee benefits platforms.

8 ways to explore insurtech in Mumbai

Insurance comparison & online insurance platformsInsurance software & policy administrationBFSI sales & banking technologyEmployee benefits & health insurance techLoan comparison & wealth management platformsDevice protection & warranty platforms

Insurance comparison & online insurance platforms

Online platforms to compare, buy and manage insurance policies.

  1. Turtlemint

    Provider of platform for comparing and purchasing insurance, loans, and funds

    Internet first insurance platforms
    See in list
  2. Onsitego

    Provider of doorstep repair and maintenance services for electronic devices and home appliances

    Internet first insurance platforms
    See in list
  3. PolicyBoss

    Online platform for insurance comparison

    Internet first insurance platforms
    See in list
  4. Policyworld

    Platform offering insurance products and services

    Internet first insurance platforms
    See in list
  5. CreditWise Capital

    Provider of loans and vehicle-related services via digital platforms

    Insurance it
    See in list

Insurance software & policy administration

Software suites for insurers, brokers and agents covering policies, claims and CRM.

  1. C2L BIZ

    Software suite for the insurance industry

    Insurance it
    See in list
  2. Coverstack

    Insurtech platform providing no-code, plug-and-play insurance infrastructure solutions

    Insurance it
    See in list
  3. Riskcovry

    Provider of a platform for digital insurance distribution and management

    Insurance it
    See in list
  4. Symbo

    Provider of insurance products across various industries and business types

    Insurance it
    See in list
  5. Herald Logic

    Provider of sales incentive compensation management platform and managed services

    Sales force automation
    See in list

BFSI sales & banking technology

Sales force automation, customer engagement and distribution tools for banks and insurers.

  1. Herald Logic

    Provider of sales incentive compensation management platform and managed services

    Sales force automation
    See in list
  2. IorTa

    Provider of AI-powered digital solutions for BFSI sales and operations

    Insurance it
    See in list
  3. BankSight

    Customer engagement platform for banks

    Insurance it
    Website
  4. Insurance CRM24

    App-based customer relationship management platform for the insurance industry

    Insurance it
    See in list
  5. Pentation Analytics

    Provider of AI-powered distribution management, demand forecasting, and customer loyalty tools

    Big data analytics
    See in list

Employee benefits & health insurance tech

Platforms for employer-provided health insurance and employee benefits administration.

  1. Kenko Health

    Health insurance platform for individuals

    Internet first insurance platforms
    See in list
  2. Bharatsure

    Provider of technology and infrastructure for employee benefits and embedded insurance

    Insurance it
    See in list
  3. IMT Care

    Provider of employee benefits administration platform for enterprises

    Employee health it
    See in list
  4. Volo Health

    Simplifying healthcare access and payments

    Hrtech
    See in list
  5. Eazr

    Eazr is a fintech platform that offers a mobile-based application for seamless credit management, providing instant credit access and facilitating hassle-free financial transactions.

    Employer insurance
    Website

Loan comparison & wealth management platforms

Loan comparison, financial planning and investment platforms alongside insurance.

  1. CreditWise Capital

    Provider of loans and vehicle-related services via digital platforms

    Insurance it
    See in list
  2. Sabkasaathi

    Comparison platform for consumer loans

    Internet first insurance platforms
    Website
  3. 5 nce

    Provider of AI-powered investment and financial advisory services and related products

    Investment tech
    See in list
  4. Volo Health

    Simplifying healthcare access and payments

    Hrtech
    See in list
  5. iKuber

    Provider of financial planning and investment tools

    Internet first insurance platforms
    Website

Device protection & warranty platforms

Extended warranty, device protection and after-sales repair services.

  1. Servify

    AI powered product lifecycle management platform

    Consumer electronics e-commerce
    See in list
  2. Onsitego

    Provider of doorstep repair and maintenance services for electronic devices and home appliances

    Internet first insurance platforms
    See in list
  3. GoWarranty

    Extended warranty platform for consumer electronics

    Consumer electronics e-commerce
    See in list
  4. vahanpolicydeal.com

    Online platform to compare automotive insurance quotes

    Internet first insurance platforms
    Website
  5. DrivSafe

    Provider of a smartphone-based app for auto insurers

    Road transport tech
    Website

Insurtech startups in Mumbai

Newer insurtech startups in Mumbai.

  1. Finhaat

    Provider of a B2B platform for financial product distribution

    Internet first insurance platforms
    See in list
  2. ValuEnable

    CRM and insurance policy management solutions

    Insurance it
    See in list
  3. Bharatsure

    Provider of technology and infrastructure for employee benefits and embedded insurance

    Insurance it
    See in list
  4. IMT Care

    Provider of employee benefits administration platform for enterprises

    Employee health it
    See in list
  5. Nsurecredit

    Provider of risk management framework support and technology for insurance

    Insurance it
    See in list
30 companies in Mumbai

Insurtech companies hiring in Mumbai

Mumbai insurtech companies with open roles.

  1. Onsitego

    Provider of doorstep repair and maintenance services for electronic devices and home appliances

    Internet first insurance platforms
    See in list
  2. PolicyBoss

    Online platform for insurance comparison

    Internet first insurance platforms
    See in list
  3. C2L BIZ

    Software suite for the insurance industry

    Insurance it
    See in list
  4. Coverfox Insurance

    Provider of platform to compare and purchase various insurance policies online

    Internet first insurance platforms
    See in list
  5. Coverstack

    Insurtech platform providing no-code, plug-and-play insurance infrastructure solutions

    Insurance it
    See in list
20 companies in Mumbai
Mobile reach

Top 10 insurtech apps from Mumbai

The most-installed Android apps published by insurtech companies headquartered in Mumbai — 6.8M installs between them. 30 companies on this page publish at least one app; each company (legal entity) appears once, with its most-installed app.

1 of 10
1

TurtlemintPro - Sell Insurance

by Mintpro

Installs5.1M
Rating4.036K ratings
Installs, year on year+19%
Last updatedJun 2026
View on Google Play ↗
TurtlemintPro - Sell Insurance screenshot 1TurtlemintPro - Sell Insurance screenshot 2TurtlemintPro - Sell Insurance screenshot 3TurtlemintPro - Sell Insurance screenshot 4TurtlemintPro - Sell Insurance screenshot 5TurtlemintPro - Sell Insurance screenshot 6
2

CoverSure: Insurance made easy

by CoverSure

Installs497K
Rating—
Last updatedJun 2026
View on Google Play ↗
CoverSure: Insurance made easy screenshot 1CoverSure: Insurance made easy screenshot 2CoverSure: Insurance made easy screenshot 3CoverSure: Insurance made easy screenshot 4CoverSure: Insurance made easy screenshot 5CoverSure: Insurance made easy screenshot 6
6

OneInsure: Your Insurance App

by OneInsure

Installs147K
Rating—
Last updatedOct 2024
View on Google Play ↗
OneInsure: Your Insurance App screenshot 1OneInsure: Your Insurance App screenshot 2OneInsure: Your Insurance App screenshot 3OneInsure: Your Insurance App screenshot 4OneInsure: Your Insurance App screenshot 5OneInsure: Your Insurance App screenshot 6
7

Salespro - Retailer's App

by Onsitego

Installs99K
Rating—
Last updatedFeb 2026
View on Google Play ↗
Salespro - Retailer's App screenshot 1Salespro - Retailer's App screenshot 2Salespro - Retailer's App screenshot 3Salespro - Retailer's App screenshot 4Salespro - Retailer's App screenshot 5Salespro - Retailer's App screenshot 6
8

5nance - Wealth Management

by 5 nce

Installs81K
Rating—
Last updatedMar 2026
View on Google Play ↗
5nance - Wealth Management screenshot 15nance - Wealth Management screenshot 25nance - Wealth Management screenshot 35nance - Wealth Management screenshot 45nance - Wealth Management screenshot 55nance - Wealth Management screenshot 6
9

PolicyBoss Pro

by PolicyBoss

Installs59K
Rating—
Last updatedMay 2026
View on Google Play ↗
PolicyBoss Pro screenshot 1PolicyBoss Pro screenshot 2PolicyBoss Pro screenshot 3PolicyBoss Pro screenshot 4PolicyBoss Pro screenshot 5PolicyBoss Pro screenshot 6
The business behind the activity

InsurTech financials in Mumbai

Revenue, profit and growth from the filed annual accounts of 49 insurtech companies in Mumbai, Maharashtra for FY24-25 — 61 of the 118 companies on this page file accounts with the Ministry of Corporate Affairs. The five largest earn 72% of the revenue, so medians describe the typical company better than totals.

combined revenue, FY24-25₹2,160.83 cr

49 companies filing accounts

combined net profit−₹95.65 cr

-4.4% aggregate margin

are profitable47%

23 of 49 companies

median revenue~₹3.8 cr

the typical company

median revenue growth+16%

into FY24-25

earned by the top five72%

revenue concentration

Six-year view

Combined revenue of filing companies

₹682.19 crFY19-2038 filers
₹782.02 crFY20-2141 filers
₹1,171.30 crFY21-2245 filers
₹2,031.39 crFY22-2351 filers
₹2,109.69 crFY23-2452 filers
₹2,160.83 crFY24-2549 filers

The number of companies filing changes each year; the three-year cohort below compares like with like.

Like-for-like

The same 45 companies over three years

+52%
FY22-23₹1,423.64 cr−₹346.12 cr net
FY23-24₹1,935.13 cr−₹224.06 cr net
FY24-25₹2,158.93 cr−₹92.29 cr net

Companies with accounts for all three years, so growth is not an artefact of who filed.

Scale and profit

Bigger companies are far more often profitable

Under ₹1 cr1050% profitable
₹1–10 cr2133% profitable
₹10–100 cr1173% profitable
₹100–1,000 cr743% profitable
Over ₹1,000 cr0—

Companies by FY24-25 revenue. Bars show how many companies sit in each band.

Momentum

How fast revenue moved into FY24-25

Shrinking17
0–20%10
20–50%5
50–100%5
Doubled+12

49 companies with accounts for both years; median growth +16%.

Profitability

Profit is concentrated at the top

23profitable
26loss-making
-4.4%aggregate margin
-3.8%median margin

The aggregate margin is pulled up by a few large filers; the median shows the typical company.

Growth leaders · ₹10 cr+ revenue

Fastest growing, FY24-25

CompanyGrowthRevenue
BeWealthy Consultants.BEWEALTHY CONSULTANTS PRIVATE LIMITED+591%₹29.24 cr
CoverstackCOVERSTACK TECHNOLOGIES PRIVATE LIMITED+490%₹16.68 cr
Coverfox InsuranceCOVERFOX INSURANCE BROKING PRIVATE LIMITED+325%₹61.63 cr
RiskcovryUMBO IDTECH PRIVATE LIMITED+157%₹43.01 cr
Symbo India Insurance BrokingSYMBO INDIA INSURANCE BROKING PRIVATE LIMITED+47%₹12.81 cr
I3 SystemsINTELLIGENT INDUSTRIAL INTERNET SYSTEMS PRIVATE LIMITED
Profit leaders · ₹10 cr+ revenue

Highest net margins, FY24-25

CompanyMarginRevenue
Symbo India Insurance BrokingSYMBO INDIA INSURANCE BROKING PRIVATE LIMITED37.0%₹12.81 cr
NSDL National Insurance RepositoryNSDL DATABASE MANAGEMENT LIMITED35.0%₹101.71 cr
C2L BIZC2L BIZ SOLUTIONS PRIVATE LIMITED14.7%₹62.02 cr
FynTuneFYN TUNE SOLUTION PRIVATE LIMITED13.0%₹19.31 cr
ShiftRiskSHIFT RISK INSURANCE BROKERS LIMITED6.7%₹20.11 cr
InsureefficientEfficient Insurance Brokers Private Limited4.6%₹37.02 cr
Inside the industry

Sub-sectors compared, FY24-25

Sub-sectorCompaniesRevenueMedian revenueProfitableMargin
Internet first insurance platforms18₹950.61 cr~₹10.2 cr56%-0.5%
Insurance it24₹322.26 cr~₹3.1 cr46%-12.7%
Leaders

Largest insurtech companies by revenue, FY24-25

Company · legal entityRevenueNet resultMarginGrowth
OneAssistONEASSIST CONSUMER SOLUTIONS PRIVATE LIMITED₹517.61 cr₹3.56 cr0.7%+17%
ServifySERVICE LEE TECHNOLOGIES PRIVATE LIMITED₹360.38 cr−₹43.72 cr-12.1%-5%
PolicyBossLANDMARK INSURANCE BROKERS PRIVATE LIMITED₹279.96 cr−₹30.28 cr-10.8%+28%
OnsitegoONSITE ELECTRO SERVICES PRIVATE LIMITED₹278.06 cr−₹10.63 cr-3.8%+16%
CreditWise CapitalCREDIT WISE CAPITAL PRIVATE LIMITED₹114.34 cr₹4.49 cr3.9%+18%
OneInsureROBINHOOD INSURANCE BROKER LIMITED₹109.20 cr−₹3.25 cr-3.0%+16%
NSDL National Insurance RepositoryNSDL DATABASE MANAGEMENT LIMITED₹101.71 cr₹35.57 cr35.0%+8%
C2L BIZC2L BIZ SOLUTIONS PRIVATE LIMITED₹62.02 cr₹9.11 cr14.7%-49%
Coverfox InsuranceCOVERFOX INSURANCE BROKING PRIVATE LIMITED₹61.63 cr₹71.38 lakh1.2%+325%
RiskcovryUMBO IDTECH PRIVATE LIMITED₹43.01 cr−₹18.70 cr-43.5%+157%
Some figures are available to Radar members.Log in to Radar to see every figure

Standalone annual accounts filed with the Ministry of Corporate Affairs. Brands that share one legal entity are shown together and counted once.

Industry landscape report

Insurtech Industry Landscape of India

The financials above are one chapter. The full insurtech landscape of Mumbai maps the whole industry — every segment, the capital behind it, the talent market and where the next opportunities are.

  • Market map of every sub-sector
  • Funding & company formation by year
  • Revenue, profit & financial strength
  • Digital footprint: traffic, apps, releases
  • Hiring, skills & pay
  • Founders & leaders
  • News & sentiment
  • Where demand runs ahead of supply
Read the insurtech landscape of Mumbai
For investors and data teams

Put this intelligence into your own tools

The figures on this page come from Fliar’s company, funding and MCA filings data. Use it through the Investor Intelligence API and MCA financials feeds, or explore every company, filing and investor in Radar.

Capital & corporate activity

InsurTech funding and M&A across India

473 recorded equity rounds have gone to 711 insurtech companies in India — how much, at which stage, into which sub-sectors, from whom, and how Mumbai compares. Debt, IPO and grant rounds are excluded.

equity rounds, last 12 months7

US$57.71m

equity rounds, last 24 months38

US$292.24m

raised over five yearsUS$2.44bn

228 rounds in India

M&A deals, India21

last 24 months

Capital by year

Equity funding into insurtech in India

amount rounds
$167m201829
$368m201936
$753m202046
$818m202169
$578m202248
$564m202345
$218m202431
$238m202531
$26m20264

Bars show US$ raised; the number under each year is equity rounds. 2026 is year to date. The peak year was 2021, with US$817.80m across 69 rounds.

The funding ladder · five years

Rounds and typical cheque by stage

AngelUS$9.45m31 rounds · median US$102k
SeedUS$121.38m108 rounds · median US$587k
Series AUS$494.23m37 rounds · median US$5.00m
Series BUS$253.76m14 rounds · median US$17.70m
Series CUS$539.43m13 rounds · median US$23.98m
Series D+US$1.02bn24 rounds · median US$19.79m
Where the money went · five years

Most-funded sub-sectors

Internet first insurance platformsUS$1.06bn67 rounds · 32 companies
Insurance itUS$432.65m62 rounds · 25 companies
Auto e-commerce & contentUS$400.36m9 rounds · 3 companies
Consumer electronics e-commerceUS$158.72m10 rounds · 2 companies
Insurance distributionUS$117.35m7 rounds · 1 companies
HrtechUS$107.58m12 rounds · 4 companies
Healthcare payer techUS$84.43m9 rounds · 2 companies
Corporate activity · last 24 months

M&A in India

18Acquisition
2Merger
1Completed

Most active acquirers

  1. Perfios5
  2. Federal bank2
  3. Life insurance corporation of india2
  4. Raise financial services1
  5. Raise Financial1

Most acquired or merged

  1. Manipalcigna health insurance3
  2. Ageas federal life insurance2
  3. GreenLife Insurance Broking1
  4. GreenLife Insurance1
  5. Aldun1

Each deal appears in the events strip at the top of the page.

InsurTech funding in Mumbai

36 insurtech companies in Mumbai have recorded equity funding, US$749.01m in total. Totals and round dates describe the historical record; they are not current valuations.

Founders and momentum in Mumbai

Meet the people behind insurtech companies in Mumbai. 86 of 118 companies list founders or leaders; where a public LinkedIn profile matches exactly, the expanded profile shows the photo, headline, location and education.

Explore Mumbai insurtech companies by sub-sector

The most common specialisations among insurtech companies in Mumbai. Open a company to see what it sells, who runs it and how far it has come.

Keep exploring insurtech in India and nearby markets.

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