Insurtech firm InsuranceDekho expands network by 92%

Indian insurtech platform InsuranceDekho has announced an expansion in its agent partner network. In the past year, the company has onboarded more than 95K new agent partners, reflecting a 92 % year-on-year surge in its partner network, now totalling 2,20K Dec 2024.

The company said that this aggressive growth has enabled InsuranceDekho to extend its reach to 99% of the country’s pin codes, with an impressive 86% of its agents operating in Tier 2 and Tier 3 cities.

Expansion in Tier 3 towns

The company's expansion is particularly evident in Tier 3 towns such as Sikdar in Rajasthan, Krishnanagar in West Bengal, Zunheboto in Nagaland, and Muzaffarnagar in Uttar Pradesh.

It has reached some of the country's most remote regions, including Lahaul-Spiti in Himachal Pradesh and Serchhip in Mizoram.

Leadership comments

Pankaj Goenka, Vice President and Head of B2B2C at InsuranceDekho, commented on this achievement, stating, “The remarkable expansion of our agent network reflects our dedication to making insurance accessible to every corner of the country. By reaching 99% of India’s pin codes, we are addressing critical gaps in accessibility and bringing financial protection closer to underserved communities."

"This milestone is not just about numbers; it represents our commitment to empowering individuals and families at the last mile with reliable insurance solutions. The resulting growth in our premium run rate further underscores the impact of our efforts, reinforcing our role as a trusted enabler in the insurance ecosystem." Goenka added.

InsuranceDekho’s offerings

InsuranceDekho’s platform offers a diverse range of over 720 insurance plans from 49 insurers, providing comprehensive options for customers. 

As of March 2024, the company's annual premium run rate hit Rs 3,300 crore, nearly doubling from the previous year. Further, its ambitious vision includes expanding its footprint to 6 lakh villages.

InsuranceDekho was incubated within one of India’s leading Insure-tech - CarDekho Group. InsuranceDekho is a brand name owned by Girnar Insurance Brokers Pvt Ltd (GIBPL). GIBPL was incorporated in 2016 and was granted the license to act as a Direct Insurance Broker by the Insurance Regulatory Development Authority of India (IRDAI) in 2017.