GO DIGIT GENERAL INSURANCE: MARKET POSITION, PERFORMANCE & CHALLENGES

Go Digit General Insurance: Market Position, Performance & Challenges

Go Digit General Insurance: Market Position, Performance & Challenges

Blog Article

Founded: December 7, 2016

Founder: Kamesh Gopal Chand Goyal

Headquarters: Bengaluru, India

Digital Full-Stack Insurers:


Go Digit Insurance Share, Full-stack insurers manage all aspects of insurance in-house, from sourcing to underwriting to servicing, under strict regulatory oversight. Digital full-stack insurers integrate advanced technology into their operations to enhance efficiency.

Market Share Growth:


According to RedSeer, digital full-stack insurers increased their share of the non-life insurance market from 3.3% in FY23 to 4.3% by December 2023.

Go Digit's Market Position:

Products: 74

Market Share in Motor Insurance: 6.0% (as of Dec 31, 2023), 5.4% (FY23)

Key Performance Indicators (9MFY23):

Customers: 43.3 million

Policies Sold: 8.5 million

Gross Written Premium: ₹6,679.7 crore

Retention Ratio: 84.5%

Total Investment Income: ₹776.5 crore

Assets Under Management (AUM): ₹14,909 crore

Digital Transformation:


Digit General Insurance has fully transitioned to cloud operations, becoming one of the first non-life insurers in India to do so. By December 31, 2023, the company had 1,883 API integrations, leading to the issuance of 34.54 million policies through these integrations.

Top-Notch Marketing Agencies: Google Ads Services USA



Distribution Network:


Digit General Insurance operates in 24 states in India and partners with 61,972 distribution agents, including 58,532 POSPs, individual agents, corporate agents, and brokers. Additionally, products are sold directly through the company's website and web aggregators.

Investment Strategy:

The company invests cash flows from its insurance operations in Indian market securities, achieving an average yield of 7.4% during 9MFY24 and 6.3% during FY23. As of December 31, 2023, 97.3% of its assets were in Indian government securities or corporate bonds, with 71.8% of corporate bond exposure in AAA-rated bonds.

For Expert Marketing Support: Digital Marketing Experts Naroda



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