Insurtech start-up Zopper raises $75 million in series C funding

Currently, there are 57 insurance companies in India- 24 in the life insurance sector and the others in non-life insurance businesses

Insuretech player Zopper has raised $75 million in series C funding  led by Creaegis, with participation from ICICI Venture and Bessemer Venture Partners

Funding was raised to double down on growth, revealed Surjendu Kuila, co-founder and CEO of Zopper.

Investments will be used to bolster the firm’s technology team to help ecosystem partners distribute insurance in a technologically seamless way, he said. “Data analytics will help us push the next frontier of innovations in the insurtech space,” added Kuila.

Insurance penetration in India has seen an increase in recent years, jumping from 3.76 per cent in 2019-20 to 4.20 per