Latest news with #IndiaInsurtechSummit2025
Time of India
17-07-2025
- Business
- Time of India
Insurtech funding set to top $1 billion in 12 months
Private funding in the insurance technology or Insurtech sector is forecast to exceed $1 billion in the next 12 months after past few years of moderation, said a report released at India Insurtech Summit 2025 on Thursday. The funding for 2024 stood moderated to $239 million from $497 million a year ago. Explore courses from Top Institutes in Select a Course Category Artificial Intelligence Others Operations Management PGDM Leadership Healthcare Design Thinking healthcare MBA Product Management Public Policy Management Cybersecurity Degree Finance others Project Management Data Science MCA Data Analytics CXO Digital Marketing Technology Data Science Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details After peaking at $820 million in 2021 on the back of aggressive expansion and strong investor enthusiasm, the funding has moderated. This is because the sector transitioned to a quality-focused growth and as global economic factors encouraged more disciplined capital allocation, according to a report jointly prepared by Perfios, a global B2B software-as-a-service company working in the BFSI sector and fintech and advisory firm The Digital Fifth. 'There is currently a clear gap in funding for tech stack companies and claims solutions — areas that are essential for driving efficiency and enhancing customer experience, and which should see significant growth in the coming years,' said the report. The report also said that India's insurance penetration , which had got a boost from the COVID pandemic, declined below 4% mainly because of drop in uptake of life insurance, according to the report. Insurance penetration fell to 3.7% in FY24, after staying above 4% for preceding three fiscals. The number for the life insurance segment fell to 2.7% in FY24 from 3% a year ago, while it remained 1% for the non-life segment. This signals an enormous protection gap, especially in health, life, and micro-insurance categories, the report said. While penetration declined, insurance density improved slightly, with per capita premium rising from Rs7,847 in 2022 to Rs8,103 in 2023, led by the non-life segment, said the report. The report said that a slew of regulatory initiatives like National Health Claims Exchange (NHCX) and the upcoming Bima Sugam platform are laying robust digital rails for insurance innovation. In addition, the Digital Personal Data Protection Act (DPDPA) is expected to enhance customer data and consent-based experiences.
Business Standard
26-06-2025
- Business
- Business Standard
The Digital Fifth to facilitate funding of $250,000 to $1 million at India Insurtech Summit 2025
VMPL Mumbai (Maharashtra) [India], June 26: Fintech consulting and advisory firm The Digital Fifth is inviting insurance start-ups to pitch to investors at the India Insurtech Summit 2025. Investors like Equanimity investments, Cedar-IbSi Capital, Nexus Venture Partners, IIFL, Z47 will be evaluating start-ups in need for funding. Investments in the range of $250,000- $ 1 million will be facilitated at the summit. With an expanding middle class, increased digital literacy, and a rising awareness of the need for risk protection, India's insurance sector is undergoing a digital renaissance. The InsurTech segment is reshaping how insurance is bought, serviced, and experienced. These developments are challenging traditional models and giving rise to agile, technology-led innovations that prioritize customer centricity and operational efficiency. At the India Insurtech Summit 2025, startups can apply and pitch one- on-one to investors. Startup profiles will be pre-approved by investors before the pitch From MVP, to pre-series and beyond, different scopes of investment will be discussed by interested investors. "The next wave of digital transformation in insurance will be driven by AI-powered risk assessment, real-time claims automation, hyper-personalized policies, and embedded insurance models seamlessly integrated into everyday transactions," said Sameer Singh Jaini, Founder & CEO , The Digital Fifth. "Through the summit, we are looking to help incubate and grow some insurtech startups that will drive change in this direction going forward," he said. The rise of blockchain, parametric insurance, and IoT-enabled underwriting is set to redefine customer trust and efficiency, bringing faster, more transparent, and cost-effective insurance solutions to millions. As Insurtech startups and traditional insurers collaborate, the industry is poised for a digital-first revolution that prioritizes customer convenience, fraud prevention, and operational efficiency There will be several awards that will be presented at the summit as well. These include the Digital Transformation Leader award, which recognises an individual who has spearheaded digital initiatives leading to significant improvements in their organisation's operations and customer engagement. Other awards include Best Insurtech Innovation of the Year, Best Digital-First Insurance Company, Best Embedded Insurance Solution, Claims Excellence Award and Best Use of AI in Insurance. These awards aim to honor the organizations and individuals setting new standards in customer experience, technology adoption, risk management, and market growth. The Insurtech summit will also showcase live product launches, and tech showcases from top insurers and insurance startups, top industry leaders will participate in high-powered panel discussions and fire-side chats and there will be exclusive networking opportunities with CXOs, investors and policy experts.
