In a country where insurance has long been associated with paperwork, confusion, and delays, Digit Insurance dared to challenge the status quo. Founded in 2016, the company set out with a mission to simplify insurance for everyday Indians. Today, Digit stands as one of India’s most trusted insurtech brands, proving that with the right mix of technology, vision, and customer empathy, even the most complex industries can be revolutionized.
The Birth of a Simplified Insurance Vision
Digit Insurance was founded by Kamesh Goyal, a veteran in the insurance world with over two decades of global experience. Inspired by how cumbersome and outdated traditional insurance processes were, Kamesh envisioned a company that would put the customer first—offering fast, jargon-free, and fully digital insurance policies. With backing from Fairfax Financial Holdings, Digit began its journey from Bengaluru, and within a few years, redefined what insurance could look like in India.
What Makes Digit Different
At its core, Digit is customer-obsessed. The company built its platform to cut through industry jargon, remove red tape, and speed up claim settlements. Everything from buying a policy to making a claim is done digitally, often with just a smartphone. Digit uses AI-powered claim systems to reduce fraud and streamline approvals, making insurance not just accessible but enjoyable.
Revenue Model: Lean, Tech-First, and Scalable
Digit operates on a direct-to-consumer (D2C) model with a strong focus on technology. Its revenue comes primarily from insurance premiums across health, vehicle, travel, and gadget protection. By selling directly through its app and website, and integrating with partners like e-commerce sites and banks, Digit keeps its costs low and customer satisfaction high. Their asset-light model allows scalability without massive infrastructure costs.
Meet the Visionary Team Behind Digit
Kamesh Goyal, the founder and chairman, brought decades of leadership from Allianz Group and Bajaj Allianz. He assembled a team of domain experts including Vivek Chaturvedi (CMO), Philip Varghese (Executive Director), and Adarsh Agarwal (Chief Distribution Officer), all of whom share a passion for redefining insurance. Former CEO Jasleen Kohli played a key role in scaling the business and prepping it for IPO before stepping down in 2023.
Key Features That Set Digit Apart
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Paperless Policies: Customers can buy, renew, or claim policies fully online.
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Fast Claims: Most claims are settled within hours, thanks to AI automation.
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No Jargon: Policies are written in plain language so customers know exactly what they're getting.
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Flexible Plans: Options are customizable to suit every lifestyle, from pet insurance to flight delay protection.
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Round-the-Clock Support: Whether it’s a chatbot or a human, help is always just a click away.
Facing the Competition
In the ever-evolving Indian insurance space, Digit competes with giants like ICICI Lombard and Bajaj Allianz, as well as digital-first players like Acko and PolicyBazaar. However, Digit’s nimbleness, customer-first tech, and innovative products give it a unique position. Unlike legacy players, Digit doesn’t rely on large agent networks but instead invests in smarter distribution and digital convenience.
Awards and Recognition
Digit has been applauded across the industry for its disruption and innovation:
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'General Insurance Company of the Year' by AIIA in 2020 and 2024.
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'Digital Insurer of the Year' in 2023.
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'Insurance Startup of the Year' by Insurance Asia in 2020.
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Ranked among LinkedIn’s Top Startups in 2018.
Future Plans: Going Beyond Boundaries
Looking forward, Digit plans to:
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Launch pet insurance and more niche products.
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Expand to tier-III and tier-IV cities to bring insurance to underserved communities.
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Use data analytics to improve underwriting and risk profiling.
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Explore international expansion, starting with Southeast Asia and the Middle East.
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Go public, following years of solid growth and consistent customer satisfaction.
Wrapping Up
Digit Insurance’s journey is one of bold vision, deep expertise, and relentless focus on simplicity. By putting customers at the heart of its operations and removing the complexity from insurance, Digit has built a brand that’s not just successful—but deeply trusted. As it continues to expand and innovate, Digit is well on its way to becoming a global insurtech leader.
Frequently Asked Questions (FAQs)
Q1. What types of insurance does Digit offer?
Digit offers health, motor, travel, mobile, pet, and home insurance, among others.
Q2. Is Digit Insurance truly digital?
Yes, everything from policy purchase to claim settlement can be done digitally through their app or website.
Q3. Who founded Digit Insurance?
Kamesh Goyal, a seasoned insurance executive with a background at Allianz Group and Bajaj Allianz.
Q4. How fast are claims settled?
Most claims, especially mobile and travel, are settled within 24 hours.
Q5. Is Digit planning to go public?
Yes, Digit is expected to file for an IPO soon as part of its expansion strategy.