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Antler leads $500K round in InsurancePadosi

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Insurtech platform InsurancePadosi has raised $500K in a pre-seed funding round led by Antler along with participation of Hemant Kaul and Satish Pillai. The proceeds will be allocated towards strengthening its technology platform, expanding its product offerings, and enhancing sales and marketing efforts, InsurancePadosi said in a press release. According to market research, the Indian insurance market is over $20 billion in gross premiums and 50 million new policies sold annually. Co-founded in 2023 by Vaibhav Kathju, Abhay Singh, and Gaurav Gupta, InsurancePadosi aims to bridge the gap between customers and the right insurance policies, making the buying process seamless and transparent. The platform offers insurance health report (IHR), an AI-driven tool that provides personalized insurance recommendations in just 60 seconds. According to the Jodhpur-based company, it aspires to venture into underwriting and claims management, thereby providing a comprehensive, end-to-end customer experience. InsurancePadosi claims that it has provided valuable insights to over 5,000 users through the IHR and intends to educate more than 200,000 individuals about their insurance needs, free of charge, within the next 12 months. Other notable players in this space are Acko, Policybazaar, Digit Insurance, RenewBuy, Riskcovry and others.