RenewBuy

insurtechaggregators / policy management

FOUNDING YEAR: 2015
LOCATION: India
Last Update: 10/07/2020

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About

RenewBuy is an online comparison portal to provide motor vehicle insurance policies to the users. It offers services such as motor car insurance, third party insurance, compare car and bike insurance, expired car and bike insurance, online car insurance and car and bike insurance renewal. The company aims to offer the lowest premiums and issue the policies instantly.

Focus

PRODUCTS & SERVICES

Online insurance comparison tool for motor industry, instant policy in less than 2 minutes, free reminder service, digital locker for all documents, servicing, and claim assistance. It is simple, fast and easier way to renew car insurance policy.

REVENUE MODEL

Company charge 20% of commission on every policy depending on the type and size of the insurance.

MAIN CLIENTS

Retail businesses

EXISTING PARTNERSHIPS

Partnered with multiple insurers including L&T General Insurance

Bharati AXA

HDFC Ergo

Bajaj Allianz

Reliance General

IIFCO Tokio.

COMMENT

The platform works in real time and provides the best available price specific for the vehicle model.

Traction

TRACTION COMMENT:

$15.4 Mn (INR 100 Cr) mark in terms of annualised insurance premiums. (Oct 2017)

People

FOUNDERS

Balachander Sekhar

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Amicus Capital Partners

IIFL Asset Management

Lok Capital

Mount Nathan Advisors

Momentum

FUNDED

YES

TOTAL FUNDING

$28.64 M

DATE OF LAST FUNDING

Jul 2019

SEED & PRIOR FUNDING

$500 K

FUNDING SERIES

SERIES B  · $18.87 M  · Jul 2019

OTHERS  · $9.27 M · Oct 2017

LISTED

NO

BASICS

FOUNDING YEAR:

2015

LOCATION:

India

Views:

182 VISITORS | 416 VIEWS
LATEST FUNDING ROUND

$28.6 M

TOTAL EMPLOYEES
11-50

About

RenewBuy is an online comparison portal to provide motor vehicle insurance policies to the users. It offers services such as motor car insurance, third party insurance, compare car and bike insurance, expired car and bike insurance, online car insurance and car and bike insurance renewal. The company aims to offer the lowest premiums and issue the policies instantly.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

Focus+
Momentum+
Traction+
People+
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