Automobile classified startup CarDekho forays into insurance segment with InsuranceDekho
Automobile classified startup CarDekho Group has announced its foray into the motor and health insurance sector by launching InsuranceDekho. The online insurance platform has a tie-up with more than 20 health and motor insurance companies. With this, CarDekho is eyeing a target of selling 10 lakh policies per month in the next three years.
Co-founders of CarDekho - Anurag and Amit Jain.
Announcing the launch, Ankit Agrawal, Principal Officer and CEO, Girnar Insurance Brokers Private Limited said,
“Insurance buying in India is often an opaque process where customers are not always aware of what they are paying for - exclusions and inclusions both. We want to make the process an interactive and educative experience by helping the customer understand what he is buying. With regards to this, we have created a strong customer experience team and developed proprietary technology to assist the customer through the lifecycle of the policy.”
InsuranceDekho aims to make the process transparent through its advisory-led model and provide the best-in-class post-sales experience.
This January, CarDekho had announced its Series C fundraise of $110 million from Sequoia India, Hillhouse, CapitalG (Alphabet growth investment arm), and Axis Bank. It had then said that the fresh funds would be used to enhance the company’s focus on transaction services, including insurance and financing.
Amit Jain, Co-founder and CEO, CarDekho, added,
“We are delighted to announce our foray into the online insurance business. InsuranceDekho is going to add immense value to the entire digital auto ecosystem, which we have successfully created over the years. We have helped people buy the best suited cars for and now they will also get to buy the best insurance.”
Headquartered in Jaipur, the CarDekho Group also operates other leading Indian auto sites like Gaadi.com, ZigWheels.com, BikeDekho.com, and PowerDrift.com. The company also owns specialised portals like TyreDekho.com and TrucksDekho.com.
In 2016, the company went international under the brand name OTO, covering Indonesia. Other investors in CarDekho include Tybourne Capital, HDFC Bank, Axis Bank, Times Internet, Ratan Tata, and Trifecta.