We aim to make insurance simple. Through innovation and transparency, we believe in delivering a seamless customer experience journey in a significant financial product an individual would purchase in their lifetime. We offer motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products, which the customers can customize to meet his or her needs.

As at Dec’23, there were 43.26 million customers since the inception in 2017. (27.74 million customers acquired in motor insurance product, 14.97 million customers acquired in health insurance products (including personal accident & travel) and 0.55 million customers acquired in other insurance products)

In the nine months ended Dec’23 and FY23, the Company catered for approximately 82.5% (equating to ₹ 66.80 billion in the nine months ended December 31, 2023) and 82.1% (equating to ₹ 72.43 billion in Financial Year 2023), respectively, of the GWPs written by digital full stack insurance players (capturing approx. 4.3% of the overall non-life insurance market) which, include Acko and Navi, making go digit the largest digital full stack insurance player in India.

The company have launched 74 active products across all business lines. As of Dec’23 and FY23, they have market share of 6.0% and 5.4%, respectively, in the motor insurance segment one of the largest non-life insurance segment in India. This highlights the strong market acceptance of our core offering and the brand recognition.

India has one of the largest proportions of young working-age individuals, with people within the age group 15-64 reaching 970 million, representing approximately 68.0% of India’s total population as of 2023. Indian households are undergoing a notable evolution in their income and consumption patterns, with high-income households projected to grow the fastest between calendar year 2023 and calendar year 2028, at a CAGR of 7.2%. As upward social mobility occurs, standard of living improves, and households are likely to increase discretionary spending including financial products such as insurance.

The non-life insurance sector contributed around US$ 33.30 billion in GWP in FY23, showing a CAGR of 11.2% from FY18 - 23 and a CAGR of 13.6% from FY21-23. The overall market is estimated to grow at a CAGR of 15-16% from FY23-28, reaching the value of US$ 66-69 billion. It is estimated that as of the nine months ended Dec’23, the non-life insurance sector contributed around US$ 27.50 billion in GWP, from US$ 24.60 billion in GWP for the nine months ended Dec’22, growth rate of 11.5%.

The non-life insurance sector is dominated by the motor and health insurance segments. In non-life insurance business, according to IRDAI, India was ranked 14th worldwide with a share of 0.8% in the global non-life insurance market in Financial Year 2022. The Indian non-life insurance market was among the top five in the Asia-Pacific measured by GWP.

Risk Associated:

• The company has track record of reporting losses and may not be able to maintain profitability in the future.
• The company is required to meet the mandatory control level of solvency margin as prescribed under the Insurance Act, they could be subject to regulatory actions and could be forced to stop transacting any new business or change business strategy.
• Catastrophic events, including natural disasters, terrorist attack or nuclear disaster, could materially increase our liabilities for claims by customers.
• Motor Vehicle insurance holds 61% of GWP.
• Company may require additional capital to grow in the future.
• The company is exposed to significant market risk, including changes in interest rates or adverse movements in the equity markets in India that could impair the value of investment portfolio and have a material adverse effect on business, financial condition and results of operations.

We aim to make insurance simple. Through innovation and transparency, we believe in delivering a seamless customer experience journey in a significant financial product an individual would purchase in their lifetime. We offer motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products, which the customers can customize to meet his or her needs.

As at Dec’23, there were 43.26 million customers since the inception in 2017. (27.74 million customers acquired in motor insurance product, 14.97 million customers acquired in health insurance products (including personal accident & travel) and 0.55 million customers acquired in other insurance products)

In the nine months ended Dec’23 and FY23, the Company catered for approximately 82.5% (equating to ₹ 66.80 billion in the nine months ended December 31, 2023) and 82.1% (equating to ₹ 72.43 billion in Financial Year 2023), respectively, of the GWPs written by digital full stack insurance players (capturing approx. 4.3% of the overall non-life insurance market) which, include Acko and Navi, making go digit the largest digital full stack insurance player in India.

The company have launched 74 active products across all business lines. As of Dec’23 and FY23, they have market share of 6.0% and 5.4%, respectively, in the motor insurance segment one of the largest non-life insurance segment in India. This highlights the strong market acceptance of our core offering and the brand recognition.

India has one of the largest proportions of young working-age individuals, with people within the age group 15-64 reaching 970 million, representing approximately 68.0% of India’s total population as of 2023. Indian households are undergoing a notable evolution in their income and consumption patterns, with high-income households projected to grow the fastest between calendar year 2023 and calendar year 2028, at a CAGR of 7.2%. As upward social mobility occurs, standard of living improves, and households are likely to increase discretionary spending including financial products such as insurance.

The non-life insurance sector contributed around US$ 33.30 billion in GWP in FY23, showing a CAGR of 11.2% from FY18 - 23 and a CAGR of 13.6% from FY21-23. The overall market is estimated to grow at a CAGR of 15-16% from FY23-28, reaching the value of US$ 66-69 billion. It is estimated that as of the nine months ended Dec’23, the non-life insurance sector contributed around US$ 27.50 billion in GWP, from US$ 24.60 billion in GWP for the nine months ended Dec’22, growth rate of 11.5%.

The non-life insurance sector is dominated by the motor and health insurance segments. In non-life insurance business, according to IRDAI, India was ranked 14th worldwide with a share of 0.8% in the global non-life insurance market in Financial Year 2022. The Indian non-life insurance market was among the top five in the Asia-Pacific measured by GWP.

Risk Associated:

• The company has track record of reporting losses and may not be able to maintain profitability in the future.
• The company is required to meet the mandatory control level of solvency margin as prescribed under the Insurance Act, they could be subject to regulatory actions and could be forced to stop transacting any new business or change business strategy.
• Catastrophic events, including natural disasters, terrorist attack or nuclear disaster, could materially increase our liabilities for claims by customers.
• Motor Vehicle insurance holds 61% of GWP.
• Company may require additional capital to grow in the future.
• The company is exposed to significant market risk, including changes in interest rates or adverse movements in the equity markets in India that could impair the value of investment portfolio and have a material adverse effect on business, financial condition and results of operations.