News | InsuranceDekho and RenewBuy Announce Merger to Create India's Second-Largest Insurance Aggregator

InsuranceDekho and RenewBuy Announce Merger to Create India's Second-Largest Insurance Aggregator

News

23 May 2025

1 min read

UBS Forums

133

In a major consolidation move in India’s insurtech landscape, InsuranceDekho is set to merge with RenewBuy, creating a combined entity poised to become the second-largest insurance aggregator in the country, after PolicyBazaar.

The deal, reportedly valued at over ₹8,000 crore, will see InsuranceDekho (backed by CarDekho) and RenewBuy (supported by Lok Capital and IIFL) integrate operations in a cash-and-stock transaction. The merger is expected to unlock significant operational synergies, enhance product distribution, and accelerate the combined firm’s roadmap toward a public listing.

According to sources familiar with the deal, the two firms will maintain their respective branding for now but operate under a unified holding structure. InsuranceDekho’s CEO Ankit Agrawal is likely to lead the merged entity, with leadership roles being finalized as part of the ongoing integration process.

The move comes amid growing competition in the digital insurance space, where customer acquisition, product variety, and advisory networks have become key differentiators. Together, the firms are expected to service millions of customers across urban and rural India through a hybrid digital-agent model.

Reference: Economic Times