InsuranceDekho onboards IRSS founder Kuldeep Trivedi and team

Gurugram-based insurtech company InsuranceDekho has onboarded Gujarat-based insurance distributor IRSS's founder Kuldeep Trivedi and his team to accelerate insurance penetration across the country.

This will enable InsuranceDekho to strengthen its distribution network and penetration in the crucial insurance market of western India, said the company in a statement.

Trivedi will join the core leadership team of InsuranceDekho.

Along with Kuldeep, his team and their partner network, InsuranceDekho would be able to strengthen its proposition in the western regions of India, according to Ankit Agrawal Co-founder and CEO of InsuranceDekho.

"With InsuranceDekho's strong technology infrastructure, insurer relations and product portfolio, we aim to further increase our penetration in western India and provide better value and convenience to our customers," said Kuldeep Trivedi, Founder of IRSS.

The new team is aligned with InsuranceDekho's vision to democratise insurance buying and selling across India and insure every Indian, said the statement.  

InsuranceDekho raised $150 million (mix of equity and debt) in a funding round led by TVS Capital Fund and Goldman Sachs Asset Management in February this year—the largest insurtech Series A funding in Southeast Asia.

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Founded in 2016 by Ankit Agrawal and Ish Babbar as part of the auto tech platform CarDekho Group, InsuranceDekho allows consumers to compare different insurance policies based on their requirements and buy the most suitable plan for life, property and casualty insurance. Its holding entity GIBPL was granted the direct insurance broker licence by the Insurance Regulatory and Development Authority in 2017.

InsuranceDekho is present in more than 1,350 towns, covering 98% of pin codes in India. It has insured 55 lakh Indians so far, according to the company.

The company has tie-ups with 46 insurance companies and offers more than 400 plans on its platform. It aims to have 2 lakh partners and cover every pin code in India by the end of this year.

Recently, InsuranceDekho acquired Verak, a Mumbai-based SME insurance distribution startup, to bolster its presence in the rapidly growing market and the SME insurance vertical in particular.