#renewbuy

[khushipardhan01]

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[khushipardhan01]

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[khushipardhan01]

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[khushipardhan01]

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[renewbuydelhi]

Insurance broking firm RenewBuy is targeting a premium of Rs 800 crore in FY20. The digital insurance platform that specializes in motor insurance apart from products like health, has recently raised Rs 130 crore of Series B funding and wrote Rs 300 crore business in FY19.

[renewbuydelhi]

According to a recent report by the Internet and Mobile Association of India (IAMAI), India has approximately 500 million internet users. Of this, hardly 50 million are active online shoppers. For complex categories such as insurance, which is advice-based and where products are “sold" rather than “bought", this number is even smaller.