Top 5 Insurtechs that are disrupting into the rural market

In India, especially in rural regions, insurance penetration is extremely low; in 2020–21, it was 3.20 percent for life insurance and just 1% for others. With the aid of their technological prowess, the insurtech entrepreneurs are attempting to make insurance accessible to the rural population as they perceive a significant opportunity in this underserved market. Modern Insurtechs are utilizing both online and offline omnichannel reach, and insurtech companies work to maximize customer benefit. Look at these Insurtechs that are breaking into the rural market and promote insurance penetration. 

  1. InsuranceDekho

InsuranceDekho was founded in 2017 to transform the insurance buying experience by building deep distribution, enabling digitization and leading diversification into new product lines. An online platform that lets you compare insurance quotes from top-rated insurance companies and purchase the insurance policy that best suits your needs. 

Offering products across the motor, health, life and other general insurance verticals, the new-age platform covers services ranging from sourcing to fulfillment to post-sales support and helps them scale multi-fold. It also boasts of 24×7 support, instant endorsements and end-to-end claim settlement. Headquartered in Gurugram, the company has built its presence in 98%+ pin codes of India and has a growing network of ~75000 partners across the country over the last five years. It has 380+ insurance plans in partnership with 46 insurance companies.

  1. RenewBuy

RenewBuy.com is one of the fastest-growing Online Insurance distribution platforms, which offers a wide choice of life and general insurance policies available with multiple insurance companies. RenewBuy.com is the brand name under D2C Insurance Broking Private Limited licensed by the Insurance Regulatory and Development Authority of India (IRDAI), as Direct broking company for Life and General Insurance, License code -505.


Acko is India’s first fully-digital general insurance company. Founded in 2017, it provides personalized pricing to customers through deep-data analytics. It studies customers’ interaction patterns and behaviors and accordingly suggests insurance products. Currently, Acko has insured over 40 million Indians, acquiring 8% of the car insurance policies bought online in India. It also introduced Ola Ride Insurance for lost baggage, laptops, missed flights, accidental medical expenses, and ambulance transportation cover. 

4. PolicyBazaar

PolicyBazaar is India’s largest insurance marketplace. It allows users to view and compare different insurance policies online based on their preferences. Users can also buy, sell, and store policies online. The platform provides an end-to-end solution to track policies and claims assistance. The company hosts over 100 million visitors annually and records nearly 1,000,000 sales transactions/month. Currently, PolicyBazaar accounts for nearly 32% of India’s life cover & retail health business collectively. 

The company has support from an array of meticulous investors like SoftBank, InfoEdge (Naukri.com), Temasek, Tiger Global Management, True North, and Premji Invest. 

  1. Artivatic

Artivatic provides an insurance SaaS platform to automate buyer onboarding, profiling, underwriting, and claims administration. Their solutions leverage cutting-edge technologies like NLP, ML, Deep Learning, Behavior Analysis, AI, and IoT.

Currently, the company is working with 16 clients which include Deloitte, KPMC, HCL, and Cynopia, among others.

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