Venture Catalysts, an integrated incubator, and accelerator program, recently infused an undisclosed amount of funding in the seed in the Delhi based Insurance Samadhan, a technology-enabled insurance grievance redressal platform.
Dr Apoorv Ranjan Sharma, Co-founder, and President, Venture Catalysts, said,
“Estimated at $112 billion, the Insurtech market in India shows great potential for startups and investors alike. While it is still at a nascent stage as compared to its Western counterparts, the scope for growth is huge.”
“Insurance Samadhan is leveraging modern technologies and the expertise of its board members to organise this fragmented market. The funding will help the company build its tech stack and realize its business targets,” he added.
Since its inception in the year 2018, Insurance Samadhan claims that it has resolved more than 13000 complaints.
“This fund raise would help us to develop our technological frame. Post the tech is developed, Insurance Samadhan would be ready to scale up,” added Deepak Bhuvneshwari Uniyal, the spokesperson of Insurance Samadhan.