Digit Insurance has become fastest growing startup insurer in India
The Bangalore based LinkedIn Top Startups of 2018, 2019, non-life organization Digit Insurance has raised an undisclosed measure of subsidizing existing financial specialists. It has now become the latest Indian unicorn for the year 2021. The organization was esteemed at $1.9 billion after its most recent fundraise of Rs 135 crore from existing investors.
Digit Insurance raised assets as development funding to meet solvency edge prerequisites following a 32% growth in the initial nine months as against a 0.1% growth for the business. The startup claims that it grew by 31.9% in 2020. Digit Insurance likewise claims to have recorded benefit on a quarterly basis in FY21.
During the COVID-19 pandemic, the startup presented a few policies, including a Group Insurance that will ensure a person against COVID-19 and 7 Vector-borne infections including intestinal sickness, dengue, filariasis, chikungunya, Japanese encephalitis, kala-azar, and the zika infection. Digit has positioned itself as today's generation's insurer by utilizing innovation to simplify the cycle for clients like smart-phone empowered self-assessment and audio-claims.
"The one thing that has got us this far is Quickness. It is our solid establishment, our central goal of simplifying insurance for individuals on the back of simple documents, process and rethought products with genuine advantages," said Kamesh Goyal, Chairman of Digit Insurance.
The Insurance Startup of the Year 2020 and The GI Company of the Year, Asia - 2019, 2020, Digit Insurance was founded by Kamlesh Goyal in 2016. The five-year-old founder of the startup is an insurance veteran with over 30 years of experience. He is having experience, working in top insurance companies like Allianz Insurance and Bajaj Allianz Life Insurance.
Being the only Indian company, Digit Insurance was also listed in Global Fintech 250 by CB Insights, in 2020. The organization is powered by Canadian billionaire Prem Watsa’ Fairfax Group, which has operations in over 30 countries and takes a long-term value approach towards investments in India.