5 InsurTech Startups to watch by 2025

By Gloria Mathias

Today

• 2025
• Bimakavach
• Financial Technology

The insurance sector in India is undergoing a transformative shift owing to the emergence of InsurTech, a powerful combination of insurance and technology. In a country where vast populations remain underinsured, InsurTech platforms are bridging critical gaps, offering security and safety that is now just a step away for millions. These platforms leverage digital innovations to make insurance more accessible, affordable, and personalised, catering to both urban and rural populations.

Today, InsurTech is more critical than ever. As uncertainties grow in health, finance, and livelihoods, having the right insurance coverage has become essential to safeguard against unforeseen risks. FinTech’s influence on the insurance landscape is undeniable. It drives seamless digital processes, creates innovative microinsurance products, and ensures better financial inclusion. These advancements are not just reshaping traditional insurance but also empowering individuals and businesses to protect their futures with confidence.

Listed below are 5 emerging FinTechs driving the Insurance wave in India in 2025:

Established to serve emerging middle-class and lower-income groups, particularly in rural and Tier 3 and Tier 4 cities, Finhaat offers a B2B insurance distribution and servicing platform. Their SaaS-based digital platform enables partner institutions like NBFCs, MFIs, and NGOs to implement insurance efficiently and service customers. Finhaat aims to democratise insurance and provide financial security to underserved communities.

BimaKavach is a notable InsurTech platform that is gaining traction in India. Founded in 2021, it is focused on making insurance accessible and affordable for the masses. BimaKavach offers micro-insurance products through its digital platform, targeting low-income groups, including rural populations and migrant workers. The platform leverages technology to simplify the insurance process, ensuring that users can easily understand and purchase policies that cater to their specific needs.

RenewBuy is an Indian-based online insurance platform that specialises in providing a wide range of insurance products, including health, life, motor, and travel insurance. The platform enables customers to compare and purchase insurance policies from multiple leading insurers, offering a transparent and hassle-free experience.

With its “Insurance in a Box” model, Riskcovry is redefining insurance distribution in India. It provides a comprehensive infrastructure for enabling any insurance product from any insurer across various channels. Serving diverse partners, including banks, NBFCs, and FinTech startups, Riskcovry accelerates digital insurance distribution journeys, empowering businesses to integrate insurance into their offerings effortlessly.

Toffee Insurance is an InsurTech platform in India that aims to simplify and democratise access to insurance by offering micro-insurance products designed for the modern consumer. The platform focuses on making insurance more affordable, accessible, and transparent, with a unique approach to providing coverage for a variety of everyday needs. Toffee Insurance caters to individuals who are typically underserved by traditional insurance providers, offering bite-sized, easy-to-understand insurance plans that provide security without the complexities of conventional insurance.

Previous Article

Unicaja, Fiserv partner to enhance omnichannel payments in Spain

Read More

Next Article

How Cards-as-a-Service is reshaping the future of digital payments

Read More

IBSi FinTech Journal

• Most trusted FinTech journal since 1991
• Digital monthly issue
• 60+ pages of research, analysis, interviews, opinions, and rankings
• Global coverage

Subscribe Now

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}