Insurtech Onsurity sees 80% revenue growth in FY24, losses widen

Quick Summary:

Onsurity's revenue growth came the cost of its bottomline which was hurt by higher expenses from interest payments and employee expenses.

It will also focus on improving tech capabilities and claims experience, and developing fully digital greenfield products, aligning with its commitment to being a 100% paperless insurtech.

The majority of its revenue was derived from its subscription services, along with a marginal commission income.

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Article Details

Author / Journalist: Akshita Toshniwal

Category: StartupsEconomyBusiness

Markets: India

Topics: Growth Crore Revenue Policy Year Information Startup Services Terms Privacy Expenses

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-22 @ 12:35:18 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 213 words

Reading Time: 2 minutes read

Sentences: 16 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © YourStory

News ID: 23765290

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About YourStory

Main Topics: StartupsEconomyBusiness

Official Website: yourstory.com

Update Frequency: 31 posts per day

Year Established: 2008

Headquarters: India

News Last Updated: 10 hours ago

Coverage Areas: India

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