Venture Catalysts, India’s first and largest integrated incubator and accelerator, has recently led an INR 2.5 Cr Pre-Series A investment in Ensuredit, an insurance technology startup. Leveraging its ‘Platform as a Service’ business model, the platform is committed to helping brokers, corporate agents, IMFs, and insurers to bolster their revenue generation.
Founded in 2019 by Amit Boni, Rohit Sadhu and Vikas Ranga, Ensuredit aims to disrupt the insurance industry in India and unlock the next chapter of its development by utilizing the power of technology. To achieve this, the brand focuses on enhancing the sales force while enabling insurance players to onboard a greater number of insurance manufacturers and channel partners.
Speaking on the investment, Amit Boni, Founder and CEO – Ensuredit, said, “Ensuredit’s vision is simple: To digitally transform the Indian insurance industry using our AI-based, API-integrated platform and deliver a more enhanced customer experience to all the stakeholders across the sector. Venture Catalysts’s support and confidence in our idea gives us the much needed motivation for making greater strides in our journey. We intend to use the funding to hit our next growth curve by significantly expanding our technology team and outreach capabilities.”
The market that the company is addressing is currently valued at a whopping USD 100 billion. The efficiency, clarity, and scalability of its vision makes Ensuredit well-equipped to unlock the next level of evolution for the entire insurance sales and distribution network.
Dr. Apoorv Ranjan Sharma, Co-founder & President – Venture Catalysts, commented, “Using an AI-powered platform for empowering customers and insurance intermediaries is an innovative approach with great disruptive potential. Their robust IP, backed by the brilliance and relentless dedication of the founding team, makes us confident in our investment. Equipped with the right combination of innovation and determination, we are sure Ensuredit’s future will be nothing short of extraordinary.”
Ensuredit’s API-integrated platform provides access to AI-powered distribution system, streamlined workflows, open APIs, and AI based analytics suite for a transformational customer experience. Its wide range of services include agent on-boarding, quote generation, processing payments, policy insurance and comparison, identifying cross sell and upsell opportunities, and creation of proposal.