Antler led $500K Pre-seed funding raised by Insurtech platform InsurancePadosi
The insurtech platform InsurancePadosi has raised $500,000 in a pre-seed funding round headed by Antler and including Hemant Kaul and Satish Pillai.
InsurancePadosi stated in a press release that the money will be used to improve sales and marketing initiatives, broaden its product offerings, and fortify its technological platform.
Based on market analysis, the insurance industry in India generates over $20 billion in gross premium income annually with the sale of 50 million new policies.
Vaibhav Kathju, Abhay Singh, and Gaurav Gupta co-founded InsurancePadosi in 2023 with the goal of facilitating a smooth and transparent insurance purchasing process by bridging the gap between consumers and the appropriate policies. The platform provides an AI-driven Insurance Health Report (IHR) tool that generates customized insurance recommendations in about 60 seconds.
The Jodhpur-based company states that its goal is to enter the underwriting and claims management domains in order to offer a complete, end-to-end customer experience.
Through the IHR, InsurancePadosi says it has given over 5,000 users insightful information. In the upcoming year, it plans to inform over 200,000 people about their insurance needs at no cost to them.
In this market, Acko, Policybazaar, Digit Insurance, RenewBuy, Riskcovry, and other prominent companies are also present.
