Insurtech Startups InsuranceDekho and RenewBuy Merge to Form India's Largest AI-Powered Insurance Platform
In a major consolidation within India's financial technology and startup ecosystem, leading insurtech platforms InsuranceDekho and RenewBuy have announced a strategic merger to build the country’s largest artificial intelligence-enabled insurance distribution network. The combined entity boasts a total premium book exceeding ₹6,600 crore, supported by a digital network of over 600,000 point-of-sale agents (PoSPs) and coverage across 98.57% of India's postal pin codes. Since inception, both companies together have facilitated the issuance of more than 20 million insurance policies.
Under the terms of the agreement, the integrated business will operate under the InsuranceDekho brand. Ankit Agrawal, founder and Chief Executive Officer of InsuranceDekho, will lead the unified organization, while founding members from both enterprises will remain in key executive positions to ensure strategic continuity. The consolidation brings together InsuranceDekho’s strong presence in Northern and Western India with RenewBuy’s extensive footprint in Southern markets, creating a seamless pan-India distribution infrastructure.
The merged platform will leverage an AI-first technological framework to deliver real-time product recommendations, automated agent onboarding, and streamlined digital policy issuance. Offering over 750 insurance products from 52 partner insurers across motor, health, life, and commercial categories, the company aims to bridge the urban-rural insurance gap by expanding access to underserved tier-2, tier-3, and rural regions. For the public and insurance agents alike, this consolidation establishes a robust digital ecosystem that enhances financial inclusion, lowers distribution costs, and simplifies insurance access across India.
