Acquisition · Financial Services

InsuranceDekho to merge with RenewBuy in share-swap deal

What they do

InsuranceDekho is an insurance marketplace that lets users compare and buy health, life, car, and bike policies

It will merge with RenewBuy in a share-swap deal; RenewBuy is valued at ₹1,800 crore in the discussions

The combined entity will have a premium book of ₹6,000 crore and rank among India's top three physical insurance distributors

InsuranceDekho is set to merge with RenewBuy in a share-swap deal (existing shareholders exchange shares; no cash changes hands).
The deal was signed earlier this week and has been submitted to the regulator.
ET reported in October 2024 that the two companies were in discussions.
RenewBuy is valued at ₹1,800 crore in the deal discussions.
RenewBuy's investors will receive shares in InsuranceDekho proportional to their relative valuations.
All four founders across both entities are expected to remain with the combined organisation.
Ankit Agrawal, founder of InsuranceDekho, is expected to become CEO of the combined entity.
The merger awaits regulatory approvals.

The combined entity will have a premium book of ₹6,000 crore, a five-fold increase over individual platform scale.
It is expected to rank among the top three physical insurance distributors in India by annual premium.
Sanjay Doshi, partner at KPMG, noted that some players in insurance distribution are pursuing inorganic growth for scale, cost synergies, and market share.

InsuranceDekho is an insurance marketplace backed by CarDekho.
Users can compare, buy, and renew insurance policies for health, life, term, car, and bike.
It also offers corporate insurance, family health, and guaranteed return plans.
RenewBuy, founded in 2015, is a digital insurance distribution platform with a network of 125,000+ advisors in 1,500+ towns across India.
InsuranceDekho claims 17 million+ happy customers, a 4.7 rating on Google, and 145,000+ claims served.
Policy issuance is claimed to take 5 minutes.

Product: An online insurance platform for comparing and buying policies across major categories
Customers: Consumers buying insurance, with insurers and distribution partners paying for access and distribution
How it makes money: Earns commissions and distribution revenue from policies sold through its platform and partner network
What sets it apart: Large AI-enabled distribution network with nationwide partner coverage and a broad insurer base
Operations: Operates through digital partners and point-of-sale agents across India