InsuranceDekho co-founders Ankit Agrawal and Ish Babbar have expressed their interest in stepping down from the IPO-bound company due to strategic differences with the board, according to reports from Mint. The founders are reportedly seeking to move from active management to a promoter role, with the company focusing on bringing in professional management to lead operations. However, a company spokesperson has categorically denied these claims, stating that the co-founders remain actively involved and continue to lead the company's strategy and growth alongside the broader leadership team.
The company has secured a $70 million funding round led by Beams Fintech Fund in March 2025, as reported by Beams Fintech Fund. This significant investment will support the expansion of AI-powered insurance solutions in India and represents a major boost for the company's growth plans. The funding round comes as InsuranceDekho prepares for a public listing over the next year, following one of the largest mergers in the insurance segment. Beams Fintech Fund, a Mumbai-based venture capital firm, primarily invests in growth-stage fintech companies at Series B and C funding rounds, with a target investment size between $8-10 million.
Founded in 2017, InsuranceDekho has established itself as a significant player in the insurance distribution sector, earning 82% of its premium from tier-II cities and beyond. According to Mint reports, the company serves more than 6 million customers with direct integration with 46 insurance companies in India, offering over 380 insurance products, including 175 products for health and life. The company claims presence in approximately 1,500 towns and competes with major players including Acko, Turtlemint and PolicyBazaar.
On September 1, 2025, InsuranceDekho announced the consolidation of its businesses with RenewBuy to create a unified, pan-India insurance distribution ecosystem, as reported by Mint. The combined entity was India's largest AI-enabled insurance distribution platform in terms of point of sales person-driven insurance premium generated in FY26. Together, the platforms have facilitated the issuance of over 20 million insurance policies since inception as of March 31, 2026. The combined entity operates with a premium book exceeding ₹6,600 crore and a network of over 600,000 digital partners, with reach across 98.57% of India's pin codes.
InsuranceDekho operates as a subsidiary of Jaipur-based CarDekho, which became a unicorn in 2021 with a valuation exceeding $1 billion. According to Mint reports, the company is currently in mediation to retain the founders in some capacity, with the thought process being that the business needs professional management where founders must eventually move to promoter roles. The company's strategic focus remains on ensuring partners in smaller towns have the same access to products, tools and support as those in metros through its pan-India presence.
