InsureTech
Gurugram, Haryana
1000-10000
InsureTech
0 ratings
0 ratings
Highlights
RenewBuy's business works on a B2B2C model which is backed by its proprietary technology platform (App & Web platform) that enables its trained POSP (point of sale person)/ advisor to offer insurance products to its customers. RenewBuy works on a digital agent model, which provides transparency and offers instant insurance for lower prices from multiple options. With a strong network of over 50,000 POSPs/advisors spread across 650+ cities with a vision to solve the under penetration in the insurance sector.
800 Crore+
Annualized Business
50K+
Sales Agents
Total Funding
$93 M
Latest Funding
$8 M
Series D • Nov 2022
Founders
IIM Calcutta, IIT Bombay
ex-American Expressex-Metlifeex-GSK
27+ years of Experience
Led as CEO: Reliance Retail Insurance & CMO: PNB Metlife previously
Investors
IIFL Asset Management
Also Investor At:
CleverTap ,
Swiggy ,
Ola Electric
Apis Partners
Also Investor At:
Cashfree ,
Hero Fincorp
About
Launched in 2015, by industry veterans, RenewBuy.Com is the fastest growing online aggregator in India. A pure digital insurance distribution business, it has become the 2nd largest and the fastest-growing Insure-Tech player by building an extremely differentiated approach from incumbent players – both traditional insurance companies and new-age digital players.
The approach has been to completely digitize the consumer journey but using Agents. Consumer insight being that insurance continues to be dominated by Agents worldwide given product complexity and very little adaptation to direct to consumer models – led RenewBuy to offer a completely differentiated Agent led digital insurance model. This completely swept the market and led RenewBuy to become a top 2 player in less than 5 years, beating larger and bigger competitors.
The company is currently offering Motor, Health and Life Insurance on their platform. Within 5 years of launch, now 800 Cr. plus of annualized business, with more than 1500+ employees, 55000 Agents and does business in more than 600 cities using its mobile app and web platform. RenewBuy will be a 2000 Cr annualized business in 12 months, with 2000+ employees and operating in 50+ cities and keep growing further from there.
Along with massive distribution expansion, RenewBuy is looking to widen its product offering across the insurance category and offer end to end customer product life cycle solutions. We are working to revolutionize the way insurance is bought in India by not only offering an online platform but also providing every customer a touchpoint with its partners. In pursuit of its growth strategies, besides pursuing existing levers of growth, RenewBuy plans to extend its insurance platform to other similar
international markets in the near future.
Headquartered at Gurgaon and founded by Balachander Sekhar and Indraneel Chatterjee; both have more than 20 years of insurance industry experience. The company recently raised $43M from Apis Partners. We are seeking to enhance our presence in 1000+ locations across the country and increase the agent base to 2 lac on our platform, we are now among the top 2 digital insurance distributors in the country.
Perks and Benefits at RenewBuy
- 20% is variable bonus. Plus, 50% in first appraisal cycle, 50% in the second appraisal along with bonus on Prorate basis
- ESOPs due after a tenure of one year according to performance evaluation
- Joining bonus due within the first month
- Group and accidental insurances are covered along with banking support
- 35 to 36 leaves in a year, SL is 8 to 9
Recent Jobs at RenewBuyView All
Tech Lead - Python · Posted more than a month ago
Full-Time · Gurugram · 0-25L
Tech Architect - DevOps · Posted more than a month ago
Full-Time · Gurugram · 0-40L
Not able to find the Job you are looking for?
Upload your resume and we will notify you as they are posted
0 ratings
0 ratings
Highlights
RenewBuy's business works on a B2B2C model which is backed by its proprietary technology platform (App & Web platform) that enables its trained POSP (point of sale person)/ advisor to offer insurance products to its customers. RenewBuy works on a digital agent model, which provides transparency and offers instant insurance for lower prices from multiple options. With a strong network of over 50,000 POSPs/advisors spread across 650+ cities with a vision to solve the under penetration in the insurance sector.
800 Crore+
Annualized Business
50K+
Sales Agents
Total Funding
$93 M
Latest Funding
$8 M
Series D • Nov 2022
Founders
IIM Calcutta, IIT Bombay
ex-American Expressex-Metlifeex-GSK
27+ years of Experience
Led as CEO: Reliance Retail Insurance & CMO: PNB Metlife previously
Investors
IIFL Asset Management
Also Investor At:
CleverTap ,
Swiggy ,
Ola Electric
Apis Partners
Also Investor At:
Cashfree ,
Hero Fincorp
About
Launched in 2015, by industry veterans, RenewBuy.Com is the fastest growing online aggregator in India. A pure digital insurance distribution business, it has become the 2nd largest and the fastest-growing Insure-Tech player by building an extremely differentiated approach from incumbent players – both traditional insurance companies and new-age digital players.
The approach has been to completely digitize the consumer journey but using Agents. Consumer insight being that insurance continues to be dominated by Agents worldwide given product complexity and very little adaptation to direct to consumer models – led RenewBuy to offer a completely differentiated Agent led digital insurance model. This completely swept the market and led RenewBuy to become a top 2 player in less than 5 years, beating larger and bigger competitors.
The company is currently offering Motor, Health and Life Insurance on their platform. Within 5 years of launch, now 800 Cr. plus of annualized business, with more than 1500+ employees, 55000 Agents and does business in more than 600 cities using its mobile app and web platform. RenewBuy will be a 2000 Cr annualized business in 12 months, with 2000+ employees and operating in 50+ cities and keep growing further from there.
Along with massive distribution expansion, RenewBuy is looking to widen its product offering across the insurance category and offer end to end customer product life cycle solutions. We are working to revolutionize the way insurance is bought in India by not only offering an online platform but also providing every customer a touchpoint with its partners. In pursuit of its growth strategies, besides pursuing existing levers of growth, RenewBuy plans to extend its insurance platform to other similar
international markets in the near future.
Headquartered at Gurgaon and founded by Balachander Sekhar and Indraneel Chatterjee; both have more than 20 years of insurance industry experience. The company recently raised $43M from Apis Partners. We are seeking to enhance our presence in 1000+ locations across the country and increase the agent base to 2 lac on our platform, we are now among the top 2 digital insurance distributors in the country.
Perks and Benefits at RenewBuy
- 20% is variable bonus. Plus, 50% in first appraisal cycle, 50% in the second appraisal along with bonus on Prorate basis
- ESOPs due after a tenure of one year according to performance evaluation
- Joining bonus due within the first month
- Group and accidental insurances are covered along with banking support
- 35 to 36 leaves in a year, SL is 8 to 9
Recent Jobs at RenewBuyView All
Tech Lead - Python · Posted more than a month ago
Full-Time · Gurugram · 0-25L
Tech Architect - DevOps · Posted more than a month ago
Full-Time · Gurugram · 0-40L
Not able to find the Job you are looking for?
Upload your resume and we will notify you as they are posted