Insurance Samadhan Bags INR 8.5 Crore to Fast-Track Insurance Digitisation in India

Subham Kumar

06 May 2025 — 2 min read

Insurance Samadhan Raised INR 8.5 Crore in a Strategic Funding Round

Insurance Samadhan, an insurance grievance redressal platform, has raised INR 8.5 crore in a strategic funding round. This round was backed by a group of strategic family offices, with Innovito Ventures as the exclusive financial advisor. The company will use the fund to strengthen its technology infrastructure and expand its product offerings, including its flagship “Know Your Policy” feature that aims to reduce issues like mis-selling and claim rejections.

This new capital injection will help Insurance Samadhan to scale its digital solutions and improve insurance accessibility across India. Since its inception in 2018, the integrated platform has raised over USD 4.58 million through multiple funding rounds led by investors like Equanimity Investments, 100Unicorns, Venture Catalysts, and IIFL Finance.

Deepak Bhuvneshwari Uniyal, Co-Founder and CEO of Insurance Samadhan, stated, “Innovito Ventures, with their deep understanding of BFSI, is working very closely with the Insurance Samadhan leadership team. While India’s insurance industry is growing at about 7% annually, the insurance penetration rate remains low at just 3%. Our mission is to support policyholders, insurance advisors, hospitals, and insurance companies, and gradually help India increase its penetration rate. With the latest round of funding, we aim to strengthen our platform’s technology infrastructure and expand the “Know Your Policy" feature, which has the potential to address critical issues like misselling and claim rejection. By strengthening our digital capabilities, we hope to improve the reach and accessibility of insurance products.”

Insurance Samadhan simplifies and digitises traditionally paper-heavy insurance processes, enabling seamless digital experiences. Since its inception, the company has resolved over 18,000 insurance complaints and helped policyholders recover claims worth INR 160 crore.

Innovito Ventures was founded by Himanshu Singhal and Vishal Laheri. Himanshu commented on the transaction, saying, “The mandatory digitisation of insurance policies will be a pivotal shift for the industry, comparable to the transformation seen in India’s securities market. We believe that Insurance Samadhan’s early entry into this space gives the platform a clear first-mover advantage. Additionally, the government’s move to allow 100% FDI in the insurance sector could bring a wave of global insurtech innovation into the Indian market, presenting significant opportunities for platforms like Insurance Samadhan.”

The Insurance Samadhan’s flagship Polifyx app has also helped reduce the turnaround time for insurance grievance resolution by 55%, down from the earlier 60 days. With this fresh funding, the company will amplify all its efforts to make the insurance experience smoother.

About Insurance Samadhan

Insurance Samadhan is a leading platform focused on resolving insurance-related issues. Co-founded by Deepak Bhuvneshwari Uniyal, Shilpa Arora, Ravi Mathur, Sanjay Aggarwal, and Shailesh Kumar, the company offers transparent solutions for challenges like insurance claim assistance, settlement, mis-selling, fraud & delays. With a customer-centric approach, Insurance Samadhan aims to restore trust in the insurance industry and ensure policyholders receive the support they deserve.