In a significant boost to its mission of transforming insurance grievance redressal in India, Insurance Samadhan has secured Rs 8.5 crore in a strategic funding round. The round saw participation from a group of strategic family offices, with Innovito Ventures acting as the financial advisor.
Founded in 2018 by Deepak Bhuvneshwari Uniyal, Shailesh Kumar, and Sanjay H Aggarwal, Insurance Samadhan has built an integrated digital platform that simplifies and streamlines the often complex, paper-heavy insurance processes. The goal is simple yet crucial — to empower policyholders, advisors, hospitals, and insurers with efficient tools to resolve grievances and understand policies better.
This fresh capital will be used to enhance the platform’s technology infrastructure and expand its suite of products, with a special focus on its “Know Your Policy” feature. This tool aims to tackle chronic issues like misselling and claim rejections, which continue to plague policyholders across the country.
Since its inception, the startup has raised more than $4.58 million across multiple rounds, backed by prominent investors such as Equanimity Investments, 100 Unicorns, Venture Catalysts, and IIFL Finance.
The company is already making an impact:
- Over 18,000 complaints resolved
- Rs 160 crore in recovered claims for policyholders
- 55% reduction in grievance turnaround time via its flagship Polifyx app
With India’s insurance penetration still low at around 3%, despite an annual growth rate of 7%, Insurance Samadhan sees a clear opportunity to bridge this gap through digital empowerment and transparent policy understanding.
As it scales, the company remains focused on its core vision — to make insurance more accessible, accountable, and understandable for every Indian.
