Toffee Insurance

Toffee Insurance is a digital microinsurance carrier licensed in India under IRDAI as a Corporate Agent (Composite) with registration number CA0524. Founded in 2017, it focuses on delivering tailor-made insurance products for everyday risks faced by millennials and young professionals. The company operates a direct-to-consumer digital platform with one-click policy issuance and claims processing, emphasizing transparency and accessibility.

The carrier's product portfolio spans multiple microsegments including two-wheeler insurance, cycle coverage, pet insurance, travel protection, eyewear insurance, education coverage, employee benefits, electric vehicle insurance, and mobile device protection. Its core differentiator is rapid digital onboarding and a lightweight underwriting approach designed for price-sensitive segments underserved by traditional carriers.

Toffee operates as a technology-first carrier, leveraging behavioral data, artificial intelligence, and machine learning for product design and risk assessment. The platform integrates with multiple insurance carriers for distribution partnerships and claims processing, creating a hub-and-spoke model where Toffee manages customer acquisition and servicing while outsourcing capital and underwriting to partner carriers.