Online insurance comparison platform InsuranceDekho has received a $20m investment from its parent company GirnarSoft to increasing branding.
The capital injection will also be used to strengthen the InsurTech’s tech, product and sales teams, as well as grow its online presence, according to a number of reports in the media.
India-based InsuranceDekho helps consumers to easily compare several insurance policies to find the policy that best matched their needs. Users can compare, car, two wheel and health insurance policies.
It works by a customer filling in their details with InsuranceDekho and then picking the right policy from a selection of offers. The consumer can then pay online and view their new policy, with the whole process taking around five minutes, it claims.
India has one of the largest InsurTech sectors in the world, FinTech Global data shows. The country was responsible for 4.7% of the total 258 InsurTech investments that happened in 2019, with only China, the UK and the US having a larger percentage.
During the first half of 2020 the country has increased its place in the market, representing 7.9% of the 128 InsurTech transactions.
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