Kiwi targets Rs 5,000 crore premium book with AI-led insurance model
Mumbai: A new entrant, backed by private equity investor WestBridge Capital and insurance veteran Neelesh Garg, is seeking to upend India’s Rs 3.35-lakh-crore general insurance market by targeting what it sees as the industry's biggest inefficiency- transactions.
The venture, Kiwi General Insurance-promoted by WestBridge and Garg in a 70:30 equity structure, has received regulatory approval and plans to build an AI-led insurer where technology is embedded not just in distribution but also across underwriting, claims, fraud detection and customer servicing.
The venture, Kiwi General Insurance-promoted by WestBridge and Garg in a 70:30 equity structure, has received regulatory approval and plans to build an AI-led insurer where technology is embedded not just in distribution but also across underwriting, claims, fraud detection and customer servicing.
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