Insuremile raises funds from Kolkata investors

Kolkata, Feb 16: Insuremile has raised pre-seed funding of USD 3,50,000 from two Kolkata-based investors with an aim to take insurance services to the hinterland while empowering over 200 million gig-workforce in the country.
The funding was from Ambuja Neotia Group Director Parthiv Neotia, and Indus Net Technologies CEO Abhishek Rungta. It was led by Seeders– an early-stage angel group.
“The next wave of growth will come through deeper penetration of insurance among the underserved, especially in the rural markets. Among the new channels, social selling will be key disruptors in this segment. We are excited to be a part of Insuremile’s journey where we believe the team has cracked the secret sauce of executing it,” Rungta said.
Insuremile was founded in 2017 with the intent to change the dynamics of the insurance sector in India through a unique distribution model. As an insurance web aggregator, the primary aim of this phygital platform is to enhance the user experience by letting customers compare multiple policies at a time before making a choice based on their individual needs.
It had earlier raised USD 100,000 as angel funding.
“India’s gig economy comprising more than 200 million workforces generates significant traction across various industries. At Insuremile, our vision is to provide these gig workers with targeted insurance products aiming at financial security. We will accomplish this using our unique products, distribution model and touchpoints with partners,” Insuremile Co-Founder, Mallesh Reddy said. (PTI)