You can now buy Angel One's life insurance in India
What's the story
Leading fintech platform Angel One has announced a joint venture with Singapore-based insurtech company LivWell. The move is aimed at launching a digital-first life insurance service in India. The new company will be co-promoted by Angel One (26%) and LivWell Holding Company (74%), with an investment of ₹400 crore. This is the first time a fintech firm has partnered with an insurtech to create such a business in India.
Market strategy
India is largely underinsured, says Angel One
The JV will target India's growing base of digital-native consumers. Angel One highlighted that India is largely underinsured, with protection gaps exceeding 83%, especially among young earners aged between 26 and 35 years. The new company intends to leverage automation and personalization to provide affordable and accessible insurance solutions, thereby bridging these protection gaps in the country.
Digital transformation
'Accessible and transparent insurance needed'
Ambarish Kenghe, Group CEO at Angel One, stressed on the need for accessible and transparent insurance as India embraces digital financial services. "This partnership deepens our offerings across the financial lifecycle - bringing us closer to delivering a seamless and end-to-end experience across savings, investing, as well as protection," he said.
Market potential
India's market potential excites LivWell
LivWell's CEO Nikhil Verma, spoke about India's unique market potential. He said their first market, Vietnam, has shown the scalability of embedded digital-first insurance models. "India presents a unique opportunity not just because of the protection gap but because consumer expectations have fundamentally evolved," he said. Verma also emphasized on Angel One's digital reach and market credibility as key factors in building a next-generation digital insurer for today's customers.