India's Insurtech market now second largest in the world; attracting 35% of venture capital

China still leads the Insurtech market size in Asia.


Carl Adrian

21 May, 2021

India's Insurtech market now second largest in the world; attracting 35% of venture capital | BEAMSTART News

The Insurtech industry in India is growing by leaps and bounds, already becoming the 2nd largest insurance technology market in Asia.

A new report by S&P Global Market Intelligence recently stated that India's insurance technology market attracted over 35% of total venture capital poured into the sector.

Key Highlights

  • India's Insurtech industry now second largest in Asia, tailing behind China.
  • The sector attracted 35% of venture capital invested, amounting to approximately $1.28 billion solely on Insurtech.
  • India now has 66 insurtech startups, where 2 are valued at over $1 billion.

Why It Matters

  • India has a very active startup ecosystem, and bosts the third-largest startup ecosystem the world (following behind the US and China).
  • In India alone, insurance premiums totalled to $107 billion as of 31st March 2020.
  • The insurance industry is expected to grow by many fold, as a greater number of the population leverage on digital banking solutions to purchase premiums.
  • More tech giants are looking to tap in this space, and are actively leveraging solutions offered by startups for speed.

Already a member?

Sign in to read this article & enjoy the following:

  • Access to members-onnly content, events, and more
  • Connect with a global community of CEOs, Business Owners, and more.
  • Free Business Feature & Profile Listing
  • Post Unlimited Jobs & Hire Talent Effectively
  • Connect with Investors and Fundraise
  • Search through entire members, companies, and investors directory
  • and lots more!

Latest Jobs

Software Engineer (Fullstack)

Shef

California,

Full Time

USD 100000 — USD 130000 yearly

Sales Manager

InEvent

Full Time

USD 100000 — USD 110000 yearly

Senior Product Manager

Rally UXR

Full Time

USD 170000 — USD 200000 yearly

Solutions Engineer

Numeral

Full Time

USD 160000 — USD 210000 yearly

Staff Infrastructure Engineer

Vapi

California,

Full Time

USD 150000 — USD 300000 yearly

Senior Software Engineer - San Francisco (Onsite)

Etleap

California,

Full Time

USD 150000 — USD 220000 yearly

Full Stack iOS Software Engineer

Alinea

New York,

Full Time

USD 125000 — USD 185000 yearly

Business Operations Lead

SnapMagic

California,

Full Time

USD 130000 — USD 200000 yearly

Technical Program Manager - Loombotic

Loombotic

Ontario,

Full Time

USD 75000 — USD 120000 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2025 BEAMSTART. All Rights Reserved (Legal).