Technology Platform for Insurance Distribution

Riskcovry believes that insurance should be as ubiquitous as payment services, available anywhere and anytime to manage the risks that surround us

- Rajany Pradhan

IN A WORLD WHERE insurance has traditionally been a staid business, Riskcovry InsurTech set out to create a ripple. Chiranth Patil, Co-founder and Director of Riskcovry InsurTech, recognised the need for innovation and customer-centricity and harnessed the power of technology and data to reshape insurance into a more accessible, trustworthy and indispensable service.

With its ground-breaking platform and strategic partnerships, Riskcovry is poised to transform the insurance landscape, positioning itself as the catalyst for change in an industry ready for a revolution. In a recent interview, Patil shed light on the challenges before the insurance sector and the transformative role that technology can play in reshaping the industry, ushering in a new era of customer experience and accessibility.

A High-Trust Game 

Patil emphasises that insurance is a high-trust game, where customers are more likely to purchase policies from sources they trust the most. “The challenge lies in building trust and ensuring that customers understand the value of insurance. So, there is a need for innovation in the space, particularly in a country like India where insurance penetration rates remain low despite being the most populous nation on earth. So, our vision was not to become just another digital distributor like Policybazaar or its equivalents. Instead, we aimed to empower any enterprise to become a policy bazaar and enable them to distribute insurance products to their customers seamlessly,” says Patil.