InsuranceDekho set to garner Rs. 1,200 crore in premium in FY21

Online insurance aggregator InsuranceDekho is expected to have garnered Rs. 1,200 crore in insurance premium through its platform during the financial year ended March, 2021. The company, which mainly caters to health, motor and life insurance segments, had a premium of 600 crore in the preceding fiscal year.

InsuranceDekho Co-founder and CEO Ankit Agrawal said that it also intends to expand its reach to over 70 locations in the next 6 months from 35 currently, buoyed by increasing awareness about protection in the country.

Agrawal said that InsuranceDekho is one of the few companies that expanded even during the COVID-19 times and the pandemic has helped create a lot of awareness in people about importance of insurance.

Agrawal quoted, “Even as the first quarter (April-June 2020) was the washout in terms of motor (insurance) perspective, at the same time health and life insurance saw significant growth. People realised the importance of protection in terms of health and life and they started buying these products more proactively.”

“I think that after the first quarter, business started picking up. We exited March (2021) with our lifetime high revenue and premium numbers,” he further added”.