Venture Catalysts has invested a sum of $1 Mn in Kolkata based comprehensive insurance management startup Ideal Insurance Brokers Pvt. Ltd in its seed round of funding.
A consortium of industrialists and business leaders from the VCats’ investor panel participated in the investment round, including the likes of Nitesh Prakash of Ola, Atul Jain of Samyakth Finserv and promoters of Nandan Steel, Maithan group, Primarc, Artha group amongst others.
Commenting on the investment, Dr. Apoorv Ranjan Sharma, Co-Founder and President, Venture Catalysts said, “Ideal Insurance’s strong positioning in the specific, low-competition domains of insurance, such as fleet insurance management, credit and liability insurance, start-up insurance etc. and successful diversification into healthcare insurance with 121 Policy, has built the trust of VCats’ investors.”
Atul Jain further added, “Considering the apprehensiveness most Indians have regarding the insurance sector due to its various hidden clauses and norms, we believed trust and transparency in operations were the most important virtues needed by a business to succeed in this field. Ideal Insurance scored highly on these parameters.”
Ideal Insurance was launched by Rahul Agarwal as an insurance-based risk solution provider. It currently offers an entire range of insurance products in diverse domains of health, life, fire, marine, infrastructure, credit, and more.
As an IRDA licensed consultant, Ideal Insurance is able to deal with all the insurance companies of India-Public or private, life or general. This allows the company to create a diversified insurance portfolio for its clients to help them reap optimum benefits. From creating an insurance roadmap for its clients to risk evaluation and claim settlements, Ideal Insurance facilitates every part of a client’s insurance operations.