Insurance Samadhan Raises INR 8.5 Cr to Strengthen Tech, Expand Offerings
The fresh capital will be deployed to bolster the startup's technology infrastructure and enhance product offerings, including its flagship "Know Your Policy" feature aimed at addressing common pain points like misselling and claim rejection.
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Noida-based insurance grievance redressal platform Insurance Samadhan has raised INR 8.5 crore in a strategic funding round led by a consortium of strategic family offices. Innovito Ventures acted as the financial advisor for the round.
The fresh capital will be deployed to bolster the startup's technology infrastructure and enhance product offerings, including its flagship "Know Your Policy" feature aimed at addressing common pain points like misselling and claim rejection.
Founded in 2018 by Deepak Bhuvneshwari Uniyal, Shailesh Kumar, Sanjay H Aggarwal, Shilpa Arora, and Ravi Mathur, Insurance Samadhan provides a digital-first, integrated platform to simplify and streamline traditionally paper-heavy insurance processes. The company supports policyholders, insurance advisors, hospitals, and insurers, aiming to improve transparency and efficiency in the insurance sector.
"Our goal is to make insurance more transparent, efficient, and accessible," said co-founder Deepak Uniyal. "By leveraging digital tools, we aim to empower consumers and stakeholders across the value chain."
To date, the platform has raised over USD 4.58 million through multiple rounds backed by Equanimity Investments, 100 Unicorns, Venture Catalysts, and IIFL Finance.
Insurance Samadhan claims to have resolved over 18,000 complaints, helping policyholders recover claims worth INR 160 crore. Its flagship app, Polifyx, has reduced insurance grievance turnaround time by 55%, down from 60 days.
With this strategic funding, Insurance Samadhan aims to further scale its offerings, improve insurance literacy, and contribute to deeper penetration of insurance products across India.
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