InsuranceDekho bags composite broking license

It plans to start its reinsurance businesses.

Insurance marketplace InsuranceDekho has obtained a composite insurance broking license from the Insurance Regulatory and Development Authority of India (IRDAI). 

This license enables the firm to offer reinsurance services in addition to insurance broking. Reinsurance allows insurers to transfer some of their risk to another insurance company.

“The IRDAI’s approval is a significant strategic move for InsuranceDekho to achieve our vision of increasing insurance penetration and accessibility across India. Our goal is to leverage our technological prowess and deep industry expertise to bring enhanced value to our clients and partners,” Ankit Agrawal, CEO and Founder of InsuranceDekho said.