Bharatsure, an insurtech platform, has raised $1 million in a pre-Series A funding round led by Capital-A, emphasizing the immense potential for disruption in the Indian insurtech landscape.
Capital-A sees an opportunity for technology to disrupt the insurance sector in India, where insurance penetration is currently at just 4.2%. They believe that despite challenges like complex policies and outdated channels, policy reforms and expanded distribution are paving the way for growth.
The focus on employee benefits is highlighted as a significant opportunity for growth, with the employee benefits segment expected to quadruple over the next decade. Bharatsure positions itself as a full-stack employee-benefits-as-a-service platform, offering health, accident, and group term life insurance products, along with technology infrastructure and operational support for intermediaries.
Since its establishment in 2021, Bharatsure has formed partnerships with over 500 organizations, reaching a customer base of 150,000+ lives.
In a separate development, Bengaluru-based meal subscription service Kenko Life has secured an angel round from R Raghunathan, Co-founder of Prizm Payment Services (now known as Hitachi Payment Services) and OPC Asset Solutions.
Kenko Life envisions launching an app, securing funds, and expanding to Gurgaon and Hyderabad. The company currently serves over 200 meals a day across 100 pin codes in Bengaluru and plans to establish healthy cafes in fitness clubs and corporate establishments.
Kenko Life offers personalized, gourmet meal plans tailored to individual dietary preferences and health objectives, including options like carb-conscious, diabetes-friendly, vegetarian, non-vegetarian, multi-cuisine, and paleo plans. Currently available only in Bengaluru, customers can choose between lunch, dinner, or both, with a variety of 100 meal options from different cuisines.
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