Riskcovry funding, investors and company details

Riskcovry is an emerging Insurance startup from Mumbai, working in the space of Insurance Distribution Infrastructure (API-first / Embedded Insurance SaaS). Founded by Chiranth Patil, Sorabh Bhandari, Suvendu Prusty, Vidya Sridharan.

Company: Umbo IDTech Private Limited
Sector: Insurance
Location: Mumbai
Founders: Chiranth Patil, Sorabh Bhandari, Suvendu Prusty, Vidya Sridharan
Total funding raised: ₹37.4 Cr

Company overview

Riskcovry is a Mumbai-based InsurTech infrastructure company that builds the technological backbone for digital insurance distribution, enabling businesses to offer insurance products smoothly and at scale without needing to build their own distribution stack. It provides an “Insurance-in-a-Box” solution through a unified, API-first platform that integrates dozens of insurers and products across life, health, and general insurance, allowing partners to configure, launch, and manage insurance offerings across assisted, self-serve (DIY), and embedded channels with a single integration. The company’s technology accelerates go-to-market speed for partners and supports the full lifecycle of insurance – from quoting to policy issuance and claims – while also providing analytics and compliance support. Riskcovry works with a broad set of enterprise customers including banks, fintechs, brokers, and digital platforms, driving digital transformation in the traditionally complex insurance distribution market.

Funding rounds

Latest round (Bridge): $ 4.50 Mn (₹37.40 Cr.), 2024-01-08. Investors: Morphosis Venture Capital, IIFL Fintech Fund