RenewBuy

Digital insurance distribution platform connecting agents and consumers across motor, health, and life insurance in India.

Distribution & Sales Growth Acquired

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Overview

RenewBuy is a digital insurance distribution platform for agents and consumers in India, covering motor, health, and life insurance. The company operates a multi-insurer comparison engine that allows licensed POSP (Point of Sale Person) advisors to quote and bind policies from over 35 insurers across a network spanning more than 750 cities.

The platform delivers agent tools for policy comparison, customer management, and commission tracking via a SaaS model. A key technology asset is PRISM (Predictive Risk Identification & Selection Model), an AI recommendation engine launched in June 2025 that personalizes insurance suggestions based on customer demographics, location, income, and medical history. RenewBuy also acquired Artivatic Data Labs in 2022, adding API-based underwriting and claims SaaS capabilities to its stack.

RenewBuy raised USD 151M+ across 14 funding rounds before being acquired by InsuranceDekho in May 2025. The combined entity serves over 14 million customers through a network of more than 100,000 POSP advisors, forming one of India's largest insurance distribution networks.

Products & Services

Insurance Distribution Platform

RenewBuy's core platform enables POSP advisors to access multi-insurer policy comparisons and manage customer relationships in one interface. Agents compare and bind motor, health, and life insurance from 35+ carrier partners.

Key Features

Multi-insurer quote comparison across motor, health, and life categories
Policy management and renewal tracking for agents
Commission tracking and reporting dashboard

Target Users: Licensed POSP insurance advisors across India

PRISM - AI Recommendation Engine

PRISM (Predictive Risk Identification & Selection Model) is an AI-driven insurance recommendation engine launched in June 2025. It generates personalized insurance suggestions based on customer attributes including age, income, location (Pincode), gender, occupation, medical history, family composition, and education.

Key Features

Hyper-personalized recommendations across health, term, and savings products
Context-aware suggestion logic replacing generic one-size-fits-all results
Targeted at reaching 1 million customers by FY2026

Target Users: Consumers and POSP advisors using the RenewBuy platform

Artivatic Data Labs (Acquired 2022)

Following the 2022 acquisition of Artivatic Data Labs, RenewBuy integrated API-based SaaS solutions for automated underwriting and claims processing into its platform.

Key Features

API-based underwriting automation
Claims processing SaaS tools
Integration capabilities for insurer partners

Target Users: Insurance carriers and distribution partners

At a Glance

Founded: 2015
Headquarters: Gurugram, India
Employees: 1000+
Funding: Acquired

Category & Focus

Category: Distribution & Sales
Subcategories: Agent distribution platform multi-insurer comparison AI-powered recommendation
Insurance Verticals: P&C Personal Health Life & Annuity
Target Customers: Agents/Agencies, Consumers