Latest news with #insurtech
Entrepreneur
3 days ago
- Health
- Entrepreneur
Plum Commits INR 200 Cr to Healthcare, Launches Health Checkups as Part of Expansion
At the heart of this transformation is the launch of Plum Health Checkups, an at-home screening service designed to enable early detection of chronic illnesses. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Bengaluru-based employee health benefits platform Plum is making a significant shift from being an insurtech company to a healthcare-first platform. The company announced an investment of INR 200 crore (approx. USD 25 million) over the next five years to build comprehensive digital health services that go beyond traditional insurance. At the heart of this transformation is the launch of Plum Health Checkups, an at-home screening service designed to enable early detection of chronic illnesses. The service integrates over 200 biomarkers, artificial intelligence-driven reports, and follow-up consultations with medical professionals. It aims to provide a more proactive and preventive approach to employee health. "This is just the beginning of our investment period here in healthcare," said Saurabh Arora, Co-founder and Chief Technology Officer at Plum. "We've been building this vertical for over a year and a half now, and last year, we grew 125 percent in healthcare alone with strong gross margins." The service is supported by Plum's existing telehealth infrastructure, which facilitates around 100,000 consultations annually across 20 specialities. The company's diagnostic coverage spans 4,000 pin codes, and the new checkup includes advanced tools for detecting heart disease, cancer markers, kidney issues, and stress-related biomarkers. "Today, chronic illnesses like diabetes, hypertension, and early-onset heart disease are showing up as early as age 35," Arora noted. "From our health camps, we found that 71 percent of participants carried undiagnosed chronic risks." To lead the healthcare expansion, Plum has appointed Prayat Shah, former founder of Wellthy Therapeutics. Shah brings expertise in managing chronic conditions through digital platforms and care management programmes. "We're investing across the stack—doctors, labs, software, and care protocols," Arora added. "We're setting up a board of medical experts and building the product and engineering muscle to deliver a world-class digital health experience." The investment is being made entirely through Plum's internal funds, following the company's recent achievement of EBITDA profitability. It marks a clear departure from relying solely on insurance offerings, focusing instead on preventing medical crises. "Insurance is about financial well-being during a crisis," said Arora. "With healthcare, we want to ensure you never get to that crisis in the first place." According to Plum's internal data, only 20 percent of Indian employers currently offer annual health checkups, and participation among employees remains below 40 percent. Plum aims to change that by increasing both employer adoption and employee engagement in preventive care. "The Indian workforce deserves better than fragmented, reactive healthcare," said Abhishek Poddar, Plum's Co-founder and CEO. "This commitment allows us to deliver integrated, preventive, and personalised care at scale."
Finextra
4 days ago
- Business
- Finextra
Yasmina Embedded Insurance raises $2m
Yasmina Embedded Insurance has raised $2 million in seed money to become the first embedded insurtech platform in Saudi Arabia. Scene Holding led the round, co-led by Access Bridge Ventures, with participation from Arzan VC and early backing from the Sanabil Investment Accelerator by 500 Mena. 1 Like 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Founded in 2023 by Masoud Alhelou and Bashar Abalkhail, Yasmina is transforming how insurance is delivered across digital platforms. By offering seamless API integration that enables digital businesses to provide personalized insurance at checkout in under 48 hours, Yasmina meets customers where they are, with full regulatory approval and a frictionless user experience. Since its inception, Yasmina has formed strategic partnerships across HR, auto, travel, POS, and real estate platforms. These collaborations are expected to bring embedded insurance to over 1.5 million customers, offering a range of products including SME Medical, Motor, Life, and General Insurance. With $2M in Seed funding, Yasmina is scaling its team and launching operations beyond Saudi Arabia, beginning with the UAE this year and Egypt in 2026. Masoud Alhelou, Yasmina's Co-founder and CEO, commented: 'This round is a strong vote of confidence in our vision to simplify insurance across digital touchpoints. We're proud to be the first embedded insurance platform in Saudi Arabia, and this funding will help us scale faster, serve more partners, and redefine how protection is offered in the region.' Sultan Ghaznawi, Chairman & Managing Director of Scene Holding, commented: 'At Scene Holding, we back founders who are solving legacy problems with precision and scale. Yasmina's API-first model and regulatory momentum place it at the intersection of Insurtech, fintech and protection, a space we believe will define the next wave of value creation across MENA.' Rakan AlRashed, Partner at Access Bridge Ventures, commented: 'At Access Bridge Ventures, we're passionate about the untapped potential of Saudi's Insurtech landscape. Yasmina's team has paired deep sector insight with impressive early traction, and they're well-positioned to become the breakout player the market has been waiting for. We're thrilled to support them and are confident that together we can reshape how insurance is delivered across the Kingdom' Amal Dokhan, Managing Partner at 500 Global, commented: 'At 500, we support bold founders aiming to solve meaningful problems, and Yasmina is an example. We believed in their vision early on, and their momentum today shows just how powerfully embedded insurance can be across our region.' Hasan J. Zainal, Arzan VC's Founder & Managing Partner, commented:'For years, insurance companies in the region have followed a well-worn path – familiar, but far from transformative. We believe the Yasmina team is uniquely positioned to drive innovation in this sector, thanks to their superior understanding and strategic insight into the regional insurance landscape.' With $2 million in fresh capital, Yasmina Embedded Insurance is going to change how people and platforms get coverage in Saudi Arabia's growing insurtech market.
Independent Singapore
10-07-2025
- Business
- Independent Singapore
Insurtech firm Gangkhar bets on Singapore's regulatory trust, regional reach, and AI talent for embedded protection growth in APAC
Photo: Gangkhar SINGAPORE: Insurtech firm Gangkhar has chosen Singapore as its 'launchpad' to grow what it calls 'invisible but indispensable' protection across Asia Pacific, citing the city-state's regulatory trust, regional reach, and AI talent—the 'DNA' it needs to scale embedded insurance in the region, the company's founder and CEO Federico Spagnoli told The Independent Singapore. Founded just this year, the US-based company, which bills itself as a 'Shopify for insurance,' offers an AI-driven platform that helps businesses embed insurance into everyday transactions, like travel and logistics, without consumers needing to seek it out separately. When asked what makes embedded insurance different from traditional insurance, Mr Spagnoli said, 'Traditional insurance is bought reactively, often after a long, paper-driven process. Embedded insurance flips that model—protection is offered contextually, in real time, exactly where it's needed.' He said the rise of embedded insurance was fuelled by consumer frustration against traditional insurance models, the digital commerce and superapps boom, and consumer expectation that protection should be built in. Mr Spagnoli pointed out this shift is already playing out on platforms like Grab, Shopee, and Atome. Gangkhar recently launched in Singapore and is already working with regional players across e-commerce, Buy Now, Pay Later (BNPL), energy, and electronics—many of which are either headquartered in Singapore or serve ASEAN markets. Several partners are now in advanced stages of implementation using the company's Sherpa+ platform. 'Singaporeans are digitally sophisticated yet remain underinsured in key moments—job loss, trip cancellations, and device protection,' Mr Spagnoli said, calling it a 'striking' demand-supply mismatch that repeats across ASEAN. When asked how embedded insurance could play a role in situations like the recent closure of Jetstar Asia—where flights were abruptly cancelled—Mr Spagnoli described it as a 'textbook use case'. 'Imagine disruption coverage that activates the moment a flight is cancelled—auto-triggered, real-time payout, no paperwork,' he said. He added that the company is already working with platforms in Southeast Asia to launch these real-time, event-based protections across travel and logistics. Looking ahead, Mr Spagnoli said embedded insurance could redefine how people think about protection. 'When your food delivery app offers 1-click accident cover, or your payment app auto-detects refund scenarios, you stop thinking 'insurance'—you start thinking 'peace of mind'. This is how protection becomes intuitive, relevant, and recurring,' he added. /TISG Read also: 36% of Singaporeans opt for extra insurance coverage beyond employer plans, survey finds () => { const trigger = if ('IntersectionObserver' in window && trigger) { const observer = new IntersectionObserver((entries, observer) => { => { if ( { lazyLoader(); // You should define lazyLoader() elsewhere or inline here // Run once } }); }, { rootMargin: '800px', threshold: 0.1 }); } else { // Fallback setTimeout(lazyLoader, 3000); } });
Yahoo
09-07-2025
- Business
- Yahoo
COVU buys California-based Leland Insurance
AI-powered insurtech firm COVU has continued its acquisition spree with the acquisition of Leland Insurance Services, a California-based independent agency. The financial terms of the deal have not been disclosed. Leland Insurance Services, led by Richard Herscowitz, is known for its portfolio of personal, commercial property and casualty (P&C) business. This transaction marks COVU's fifth acquisition. COVU said the acquisition is part of its broader mission to enhance the capabilities of insurance agencies by providing them with access to advanced technological infrastructure, operational support, and an AI-native framework, without the intention of replacing the agencies. Leland Insurance Services partners with several national carriers, including Nationwide, Safeco, Progressive, and Travelers. The company reports 'consistent' revenue growth and a 102% year-over-year policy and revenue retention rate, according to COVU. Post-acquisition, Leland Insurance Services will be integrated into COVU's operating model. COVU CEO Ali Safavi said: 'Leland is a great example of a high-performing agency that fits naturally into the AI-native future we're building. 'They're already running with the kind of discipline, service quality, and customer retention we value—and we're excited to carry that legacy forward through our platform.' The acquisition follows COVU's previous acquisition of Ford Insurance Agency, a family-owned entity with a longstanding history in Maine. Ford Insurance Agency, established and operated by the Lonsinger family, provides both commercial and personal insurance coverage in the Maine area. "COVU buys California-based Leland Insurance " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-07-2025
- Automotive
- Yahoo
Wrisk secures $16.3m to fuel growth in embedded insurance
UK-based insurtech company Wrisk has closed a £12m ($16.3m) Series B funding round to support its strategic vision and drive expansion. The funding round was co-led by Mundi Ventures, Opera Tech Ventures and BNP Paribas' venture capital arm, with participation from existing investors QBN and Volution. Both entities will take up positions on Wrisk's board of directors following their investment. Wrisk's data-driven platform, designed for automotive brands, enables embedded and branded insurance experiences across the entire ownership lifecycle, from quoting and binding to renewals and claims, all within a streamlined digital journey. Wrisk CEO Nimeshh Patel said: 'Our approach to innovation, with a focus on exceptional user experience, has attracted and retained globally recognisable partners, demonstrating the value in our propositions. It has also attracted significant investment interest, and we now welcome Mundi Ventures and Opera Tech Ventures to our board, firms that align with our strategic ambitions. 'This funding represents an endorsement of Wrisk's vision, as we aim to accelerate UK and European growth, enhance our data and intelligence capabilities, and scale our partner programmes, transforming how insurers and automotive brands connect with their customers.' Wrisk's technology is currently employed by several car manufacturers, including BMW, MINI, Volvo, Mercedes-Benz, Jaguar Land Rover, and Stellantis. The company is now focusing on expanding its operations across Europe and has established a commercial team in Munich. Additionally, Wrisk has obtained the regulatory licences to operate in European markets, which will support both new client acquisition and the scaling of existing UK partnerships. Wrisk's platform integrates real-time data from various sources, such as insurance records, vehicle information, financial transactions, and customer behaviour. The integration is facilitated by Wrisk's proprietary embedded data framework, which has been developed for automotive original equipment manufacturers (OEMs). Looking ahead, the company aims to enhance data collaboration with OEMs, finance companies, and insurance partners to improve portfolio performance and offer more personalised customer experiences. "Wrisk secures $16.3m to fuel growth in embedded insurance " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
