ENSUREDIT: Taking insurance coverage to the plenty

Founded in 2019 by Amit Boni, Rohit Sadhu and Vikas Ranga, Ensuredit aims to disrupt the insurance industry and unlock the next chapter of its development by utilising the power of technology. To achieve this, it focuses on enhancing the sales force while enabling insurance players to onboard a greater number of insurance manufacturers and channel partners. Recently, Venture Catalysts, a fast-growing integrated incubator and accelerator, led a Rs 2.5 crore pre-Series A investment in Ensuredit. The platform aims to leverage the capital infusion to establish its position as a market leader by bolstering its tech infrastructure and outreach, said Amit Boni, founder & CEO, Ensuredit.

Leveraging its ‘Platform as a Service’ business model, the platform is committed to helping brokers, corporate agents, IMFs, and insurers to bolster their revenue generation, Boni said. “Ensuredit’s vision is simple: To digitally transform the Indian insurance industry using our AI-based, API-integrated platform and deliver a more enhanced customer experience to all the stakeholders across the sector. Venture Catalysts’ support and confidence in our idea gives us the much needed motivation for making greater strides in our journey. We intend to use the funding to hit our next growth curve by significantly expanding our technology team and outreach capabilities.”

The market that Ensuredit is addressing is valued at $100 billion. Apoorv Ranjan Sharma, co-founder & president – Venture Catalysts, said, “Using an AI-powered platform for empowering customers and insurance intermediaries is an innovative approach with great disruptive potential. Their robust IP, backed by the relentless dedication of the founding team, makes us confident in our investment.”

Ensuredit’s API-integrated platform provides access to AI-powered distribution system, streamlined workflows, open APIs, and AI based analytics suite for a transformational customer experience. Its range of services include agent on-boarding, quote generation, processing payments, policy insurance and comparison, identifying cross sell and upsell opportunities, and creation of proposal.