InsuranceDekho Merger: A Unified Insurance Distribution Platform
InsuranceDekho has officially merged with RenewBuy, establishing a comprehensive insurance distribution platform that boasts a nationwide presence in India. Leading the merged entity is Ankit Agrawal, the founder and CEO of InsuranceDekho. This merger effectively combines InsuranceDekho’s strong foothold in northern and western India with RenewBuy’s established network in southern regions.
Insurance Product Offerings
The newly formed platform will provide a wide range of insurance products, including motor, health, life, and commercial insurance, sourced from various insurers. Additionally, the integration of the two companies’ technology platforms will enable the deployment of AI for several key areas, such as partner onboarding, product recommendations, and insurance advisory services. Customers will benefit from advanced digital tools for efficient policy issuance and enhanced customer service.
Financial Performance and Reach
The merged entity has reported over Rs 6,600 crore in insurance premiums generated through its POSP network for FY26. With more than 600,000 digital partners, the company covers an impressive 98.57% of pin codes across India. To date, they have facilitated over 2 crore insurance policies since their inception.
Future Plans and IPO Ambitions
InsuranceDekho is set to file its Draft Red Herring Prospectus (DRHP) by the end of September and is planning to initiate an IPO by March 2027. The company’s target is to raise between Rs 2,500 to 3,000 crore at an estimated valuation of around Rs 9,500 crore. Both company founders will remain involved in the new entity, with teams from technology, distribution, product, and operations being integrated for better efficiency.
Collaboration with Regulatory Authorities
To broaden insurance accessibility, the company aims to collaborate with the Insurance Regulatory and Development Authority of India (IRDAI) and other relevant stakeholders to improve insurance access in Tier-2, Tier-3, and smaller markets.
Timeline of Merger Discussions
Discussions regarding the merger began in October 2024, and notably, InsuranceDekho was granted a composite insurance broking licence by the IRDAI in July 2024. Recently, InsuranceDekho secured $70 million in funding from Beams Fintech Fund and Japan’s Mitsubishi UFJ Financial Group (MUFG) in March 2025, while RenewBuy had previously raised $40 million from the Japanese insurance giant Dai-ichi Life Holdings in July 2023.