InsuranceDekho Acquires Network Of Insurance Freelancers IRSS The new team is aligned with the vision of InsuranceDekho to democratize insurance buying and selling across India and insure every Indian
By Teena Jose
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InsuranceDekho, the insurance arm of used-car platform CarDekho, has made its second acquisition in less than two weeks. InsuranceDekho operated by Girnar Insurance Brokers Pvt Ltd, has acquired IRSS, a firm with a network of insurance freelancers, just after it had acquired Mumbai-based small and medium enterprise (SME) insurance distribution firm Verak earlier this month. According to an official statement by the company, the new team is aligned with the vision of InsuranceDekho to democratize insurance buying and selling across India and insure every Indian. InsuranceDekho aims to reach every corner of India and is on target to have 2 lakh partners covering every pin-code in India by the end of 2023.
The acquisition comes in over two months after New Delhi-based InsuranceDekho raised $150 million from New York-based Goldman Sachs Asset Management and homegrown mid-market private-equity firm TVS Capital Funds in Series A fundraising rounds by an insurtech startup in India.
"With the IRSS acquisition, we have two capabilities. One is geographical capability and another is product capability. They are very strong on the health, life (insurance) side. Lastly, from a geography perspective, they are very strong in western part of the country. We are excited to welcome Kuldeep Trivedi and his team to the InsuranceDekho family. The team shares our vision of democratizing access to insurance and insuring every Indian. Kuldeep, his team and their partner network will supercharge InsuranceDekho's reach and greatly strengthen our proposition in Western India," said Ankit Agrawal, co-founder and chief executive officer at InsuranceDekho.
Recently, InsuranceDekho has onboarded IRSS founder Kuldeep Trivedi and his team to democratize insurance buying and selling across India and insure every Indian. Enabled by its robust technology platform, InsuranceDekho claimed in a statement that it is present in more than1350 towns covering 98% of pin codes in India. InsuranceDekho has insured 55 lakh Indians so far and is today successfully insuring 10¹ Indians every minute.
"InsuranceDekho has always been an inspiration for us and we are elated to finally be a part of the esteemed family. Over the past few years, we have worked relentlessly to offer the best insurance products to the people of Gujarat. With InsuranceDekho's strong technology infrastructure, insurer relations and product portfolio, we aim to further increase our penetration in Western India and provide better value and convenience to our customers," said Kuldeep Trivedi, founder of IRSS, in the statement.
