UMBO IDTECH PRIVATE LIMITED

In their own words

UMBO IDTECH Pvt Ltd (UIDT) is on a mission to re-imagine insurance for the modern India. The first product Riskcovry.com (Beta) has gone live, currently a digital destination for India's 65 million micro, small & medium business-owner population, to secure their most prized assets – their homes & businesses, on a single platform. As of now, we are the only platform to offer risk cover to policy issuance within 180 seconds digitally. We are building full-stack InsurTech capabilities to serve UMBOs (Upwardly Mobile Business Owners), and position Riskcovry.com as the brand to recall for "anything insurance" related. This not only includes buying the right insurance policies, but also other relevant parts of insurance lifecycle for the consumer, manage policies (store certificates of issuance, renewals etc.) as well as claims (initiate claim process, understand current status, refunds etc.). In summary, at UIDT, we believe the solution to bring insurance to 21st century India, is a combination of Insur-Data-Tech (IDT). Insur represents the regulated industry dynamics whose domain depth is important on both demand and supply sides. Data is key for us to personalize customer and partner experiences. With Tech, we mean leveraging neo tech capabilities including API, advanced analytics, AI/ML, IoT and DLT to fix the prevalent gaps across the industry, in a digital first manner.Our platform is ready to plugin for Direct to consumer as well as B2B2C distribution such as affinity partners. This platform provides personalised insurance curation for users based on data analytics and algorithms built on underwriting rules of our Insurance carrier partners. The platform is being integrated with some of the fintech and affinity distribution players in India.

Written by the company on its public Startup India profile. Not verified by us.