Entrackr

Gurugram-based insurtech startups InsuranceDekho and RenewBuy have officially announced their merger to create a unified insurance distribution platform with a pan-India presence.

The combined entity will operate under the InsuranceDekho brand, with InsuranceDekho founder and CEO Ankit Agrawal leading the business. The merger brings together InsuranceDekho’s presence across northern and western India with RenewBuy’s network in southern markets.

The platform will offer motor, health, life and commercial insurance products from multiple insurers. It plans to integrate the technology platforms of both companies and deploy AI across partner onboarding, product recommendations and insurance advisory. The company will also provide digital tools for policy issuance and customer service.

The merged entity generated more than Rs 6,600 crore in insurance premiums through its POSP network in FY26. It has over 6 lakh digital partners and reaches 98.57% of India’s pin codes. Together, the companies have facilitated more than 2 crore insurance policies since inception.

InsuranceDekho is also preparing to file its DRHP by the end of September, with plans to launch an IPO by March 2027. The company is targeting a Rs 2,500-3,000 crore issue at an estimated valuation of around Rs 9,500 crore.

The founders of both companies will continue with the merged entity, while teams across technology, distribution, product and operations will be integrated. The company said it will work with IRDAI and other stakeholders to expand insurance access across Tier-2, Tier-3 and smaller markets.

The merger talks began in October 2024. InsuranceDekho received a composite insurance broking licence from the Insurance Regulatory and Development Authority of India (IRDAI) in July 2024.

InsuranceDekho last raised $70 million in a round co-led by Beams Fintech Fund and Japan’s Mitsubishi UFJ Financial Group (MUFG) in March 2025. Meanwhile, RenewBuy raised $40 million from Japanese insurance major Dai-ichi Life Holdings in July 2023.