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You need 100cr to just start any insurance business

Let's make it easy to understand why it's required!

Recently a community based insuretech in US got funded and here’s what they do— So basically, communities raise money and provide a money pool which provides insurance to MSMEs and super small businesses.

No I don't think so

If you're more interested in the service side, consider starting a consultancy that helps traditional insurance companies integrate technology into their operations. Offer expertise in areas like AI, big data, and blockchain.

You can provide loans to farmers.

I think there's so much to explore in marine insurance especially because of recent sanctions on multiple countries like Russia there is lot of opportunities for us Indians to build a business.

Offer insurance on every functionality

Develop specialized insurance products for gig workers who often lack traditional benefits. Offer affordable health, life, and liability insurance tailored to the needs of freelancers and independent contractors or provide low-cost, high-coverage insurance products for low-income individuals and communities. Focus on health, agriculture, or life insurance to protect vulnerable populations from specific risks.

Start a platform where groups of people can pool their resources to insure each other. This model can reduce costs and increase transparency, with any leftover funds at the end of the term being returned to the participants.

Create an app that allows users to purchase insurance coverage for short periods or specific events. For example, insuring a car only for the weekend or buying travel insurance just for a particular trip.