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InsuranceDekho and the RenewBuy group on Tuesday announced the consolidation of their businesses to create a unified pan-India insurance distribution platform, with the combined entity having a premium book of more than Rs 6,600 crore and a network of over 6 lakh digital partners.
The companies said the consolidation will create India's largest AI-enabled insurance distribution platform in terms of POSP-driven insurance premium generated for Fiscal Year 2026. POSP, or Point of Sales Person, refers to digital partners who help customers buy insurance products. The combined platform will operate under the InsuranceDekho brand, with Ankit Agrawal leading the unified entity. The combined entity will have reach across 98.57 per cent of India's pin codes, according to the companies. The consolidation brings together InsuranceDekho's presence in northern and western India with RenewBuy's strength in the southern part of the country. The companies said the combination is aimed at expanding insurance access beyond major cities and strengthening the availability of insurance products and digital tools for partners in smaller towns and villages. The unified business will follow an AI-first approach, combining technology with its distribution network. InsuranceDekho has developed in-house artificial intelligence tools that provide partners with real-time insurance plan recommendations. The companies said the integration with RenewBuy's technology capabilities will also support automated onboarding of partners and digital processes for insurance distribution. The platform will operate as an open, multi-insurer ecosystem, allowing customers to choose from insurance products across motor, health, life and commercial insurance. It will combine digital onboarding, policy issuance and AI-powered advisory. Ankit Agrawal, Founder and CEO, InsuranceDekho, said the consolidation is aimed at taking insurance access to the last mile by giving partners wider product choice, stronger technology tools and support. "This coming together is a strategic step towards taking insurance to the last mile. Our model has always been powered by our partners, and by backing them with a range of product choice, stronger tools and the support to grow their business, we deepen insurance access in the towns and villages of Bharat that need it most," Agrawal said. Balachander Sekhar, CEO, RenewBuy, said the combination brings together digital, technology and distribution capabilities. He said the companies aim to provide insurance partners with smarter tools and seamless digital experiences while strengthening last-mile access to insurance. The founders of both InsuranceDekho and RenewBuy will continue with the merged organisation. The integration will bring together teams across technology, distribution, product and operations, with the companies saying their immediate focus will be on smooth integration and uninterrupted services for customers and partners. The combined entity will also work with the Insurance Regulatory and Development Authority of India (IRDAI) and other stakeholders to advance insurance access. (ANI)
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