Dai-ichi Life Holdings Inc., a Japanese insurance company, invested $40 million in RenewBuy in Series D round. This investment is a component of the company’s existing Series D fund , that has attracted attention from a number of prestigious investors and close soon.
Yamaguchi said that the corporation would be able to increase the’sophistication’ of its life insurance business in India thanks to its cooperation with the insurtech giant, as reported by Inc42.com
Speaking on the fundraise, Sekhar, cofounder and CEO of RenewBuy said, “RenewBuy, in seven years, has digitally empowered advisors to offer insurance seamlessly, and 70% of our business comes from beyond the 30th city. Using technology, RenewBuy has brought massive efficiency in the sales process; we want to leverage this to deliver better pricing to consumers.”
Hitoshi Yamaguchi, a representative director and the managing executive officer of Dai-ichi Life Holdings, Inc. added, “Our investment in RenewBuy shows our desire to constantly improve ourselves and seek new ways to create value for our customers. RenewBuy is a great example of a disruptor that leveraged social trends and technology effectively to reach a market which was once thought to be unreachable.”
RenewBuy is an industry-focused insurance and financial products consultancy company that was established in 2015 by Balachander Sekhar and Indraneel Chatterjee. In order to proactively improve customer experiences, streamline procedures, and increase accessibility, their highly skilled and specialized advisers operate as an extension of to customers’ financial and insurance needs