Indian insurtech InsuranceDekho has bought Gujarat-based institutional insurance coverage distributor IRSS for an undisclosed sum.
The acquisition helps the corporate to spice up its distribution community and develop its presence in western India’s insurance coverage market.
It comes lower than a month after InsuranceDekho purchased Verak, an insurance coverage distribution startup for small and medium-sized enterprises (SME) primarily based in Mumbai.
With the most recent deal, IRSS founder Kuldeep Trivedi and his crew will turns into a part of InsuranceDekho.
Trivedi will even be a part of the core management crew on the insurtech.
InsuranceDekho co-founder and CEO Ankit Agrawal mentioned: “We’re excited to welcome Kuldeep Trivedi and his crew to the InsuranceDekho household.
“The crew shares our imaginative and prescient of democratizing entry to insurance coverage and insuring each Indian.
“Kuldeep, his crew, and their accomplice community will supercharge InsuranceDekho’s attain and vastly strengthen our proposition in Western India.”
Established in 2016, InsuranceDekho is a part of used-car platform CarDekho.
In February this 12 months, InsuranceDekho garnered an funding of $150m in a Collection A spherical led by Goldman Sachs Asset Administration and TVS Capital Funds.
Trivedi mentioned: “Over the previous few years, we’ve labored relentlessly to supply the perfect insurance coverage merchandise to the individuals of Gujarat.
“With InsuranceDekho’s robust expertise infrastructure, insurer relations, and product portfolio, we intention to additional enhance our penetration in Western India and supply higher worth and comfort to our prospects.”
