InsuranceDekho commits to insuring every MSME in India

InsuranceDekho, India's leading insurance aggregator, has embarked on a mission to make insurance accessible to every small and medium-sized enterprise (MSMEs) in the country as part of its mission for the current financial year. The InsurTech has experienced remarkable growth in its MSME insurance business since its launch. ID is working with more than 20 insurers and witnessed a significant 9x increase in policies issued over the last 6 months.

This expansion has strengthened ID's presence in Tier II and Tier III cities, empowering MSMEs nationwide. The impact of InsuranceDekho's MSME insurance offerings has been substantial, benefiting over 10,000+ unique policyholders during this period. Through strong partnerships, the InsurTech company is effectively addressing clients' insurance needs.

ID has launched a hotline service manned by MSME insurance product experts who address queries ranging from policy coverage to eligibility to claims documentation requirements. The hotline includes a claims helpdesk to expedite settlement of MSME claims.

ID has tailored its offerings to address the specific needs of MSMEs and provide them with comprehensive coverage. Banking on its success in the MSME insurance space, InsuranceDekho has also expanded its capabilities to cater to the insurance requirements of large corporate clients, establishing itself as a trusted partner for both MSMEs and large corporations.

InsuranceDekho currently caters to a broad range of commercial line insurance products, including Engineering, Marine, Fire, Health, and Liability among others. Fire and Marine insurance dominate the MSME insurance portfolio, accounting for over two-thirds of the business. ID’s policies cater to businesses of all sizes and types, with premiums ranging from a few hundred rupees to crores.

InsuranceDekho is also developing a dedicated learning center for knowledge sharing sessions to bridge the gap in the MSME insurance. This initiative will provide multilingual product knowledge material that will assist clients & partners with access to valuable resources, industry insights, and a deep understanding of the different types of MSME insurance products. The learning center aims to empower businesses with the necessary knowledge to make informed decisions regarding their insurance coverage.

Ankit Agrawal, CEO of InsuranceDekho, said," We have witnessed significant growth in our MSME insurance business. With this growth trajectory, we hope to achieve our goal of insuring every MSME in India. InsuranceDekho remains committed to serving the evolving needs of MSMEs, contributing to their success, and fostering a culture of protection and growth within the sector. We are confident that our MSME insurance offerings, coupled with the development of the learning center, will continue to empower businesses and strengthen their ability to navigate the complexities of business risk management effectively."