INSUBCONTINENT EXCLUSIVE:
Faering Capital, along with new investors Sequoia Capital India, IIFL Alternate Asset Managers, among others, are participating in the
fundraise, which is subject to approval from the Insurance Regulatory and Development Authority (IRDAI).Bengaluru-headquartered Digit
Insurance, which offers health, car, bike, and travel insurance services, saw smaller funding round in January 2021, when it was valued at
Kamesh Goyal, Founder, and Chairman, Digit Insurance told TheIndianSubcontinent.The investors of the Fairfax-backed insurance company also
numbers of Digit Insurance's growthPhoto Credit: Digit InsuranceDigit Insurance registered Rs 3,243 crore in gross premiums in the
financial year 2020-2021, up 44 per cent from the previous fiscal's mark
The company makes use of technology to simplify processes for customers, such as smartphone-enabled self-inspection and audio claims.In its
statement, Digit Insurance said that over the past one year during the pandemic, it has provided COVID-related insurance to almost 3.6
million employees across 32,000 corporates, under corporate health insurance.Digit claims that since its inception, it has provided
insurance to more than 2 crore customers and has processed over 4 lakh claims.
