InsurancePadosi Secures $500,000 Pre-Seed Funding to Disrupt Indian Insurance Market
InsurancePadosi, a leading insurtech platform, has raised $500,000 in a pre-seed funding round led by Antler, with participation from angel investors Hemant Kaul and Satish Pillai. The funds will be utilized to strengthen its technology platform, expand product offerings, and enhance sales and marketing efforts.
Founded in 2023 by a team of three entrepreneurs – Vaibhav Kathju, Abhay Singh, and Gaurav Gupta – InsurancePadosi aims to bridge the gap between customers and relevant insurance policies, making the buying process seamless and transparent. The platform offers an insurance health report (IHR), an AI-driven tool that provides personalized insurance recommendations in just 60 seconds.
The Indian insurance market is a lucrative space, with over $20 billion in gross premiums and 50 million new policies sold annually. InsurancePadosi aspires to cater to this growing demand by venturing into underwriting and claims management, providing a comprehensive, end-to-end customer experience.
“We are thrilled to secure funding from esteemed investors like Antler and esteemed angels like Hemant and Satish,” said Vaibhav Kathju, Co-Founder of InsurancePadosi. “This investment will enable us to further enhance our platform, educate more users about their insurance needs, and revolutionize the way Indians purchase insurance policies.”
InsurancePadosi has already made significant strides in its mission, providing valuable insights to over 5,000 users through its IHR and aiming to educate more than 200,000 individuals about their insurance needs within the next 12 months, all for free.
The company will be competing with other notable players in the insurtech space, including Acko, Policybazaar, Digit Insurance, RenewBuy, and Riskcovry. With its innovative approach and commitment to user education, InsurancePadosi is poised to make a significant impact in the Indian insurtech landscape.
About InsurancePadosi
InsurancePadosi is an insurtech platform that aims to bridge the gap between customers and relevant insurance policies, making the buying process seamless and transparent. Founded in 2023, the company offers an AI-driven insurance health report (IHR) that provides personalized insurance recommendations in just 60 seconds. With a mission to educate users about their insurance needs, InsurancePadosi is revolutionizing the way Indians purchase insurance policies.
