Overview
Toffee Insurance is a direct-to-consumer retail insurance brokerage operating in India, distributing micro-insurance products through its digital platform at toffcover.in. The company holds an IRDAI Corporate Agent (Composite) license (CA0524), enabling distribution of both life and general insurance products from multiple insurers.
The brokerage offers eight lifestyle-focused product categories: bicycle, pet, travel, two-wheeler, eyewear, mobile device, education, and employee insurance. Each product is structured as a short-term, narrow-scope policy covering a specific scenario at a low price point, in contrast to traditional comprehensive plans. Policy purchase and claims handling are conducted through the company web platform.
Founded in 2017 by Ananya Maheshwari and Kshitij Dhawan, the company has raised USD 12.2M from investors including Kalaari Capital, Omidyar Network, Accion Venture Lab, and Flourish Ventures. In addition to its consumer-facing platform, Toffee provides an embedded insurance API that enables third-party platforms to integrate its coverage products.