BimaKavach secured a direct insurance broking licence from the Insurance Regulatory and Development Authority of India, which lets the insurtech company expand its insurance offerings for businesses. It sells corporate cover to small and medium enterprises and carries a portfolio of 18 products across liability, asset, engineering, marine and group health.
Founder Tejas Jain said the licence supports a target of Rs 100 crore in gross written premium from SMEs by FY 2024-25, easing purchases for first-time buyers while giving larger firms tools to manage their policies. BimaKavach is a WaterBridge portfolio company.
Read the full article on The Economic Times.
Credit: The Economic Times