Angel One and LivWell Forge ₹400 Crore Joint Venture to Launch Digital-First Life Insurance in India

Angel One, one of India’s leading fintech platforms, has entered into a strategic joint venture with Singapore-based insurtech company LivWell Holding Company to launch a digital-first life insurance company targeting India’s underinsured population. The partnership involves a combined investment of ₹400 crore, with LivWell holding 74% equity and Angel One owning 26%.

 

Key Highlights: Addressing India’s Massive Protection Gap

 

India’s life insurance penetration remains low, with protection gaps exceeding 83%, especially among young earners aged 26 to 35 years. This venture aims to bridge that gap by providing affordable, accessible, and personalized insurance products designed for digital-native consumers.

 

The new insurer will leverage automation and AI-driven personalization to transform underwriting, claims, and customer engagement, ensuring transparency and seamless digital experiences.

 

Angel One’s Group CEO, Ambarish Kenghe, emphasized that the joint venture deepens their financial ecosystem offerings, integrating savings, investing, and protection into a unified digital platform trusted by millions.

 

LivWell’s CEO, Nikhil Verma, who has prior experience leading insurance growth in emerging Asian markets, highlighted India’s evolving consumer expectations and the scalability of embedded digital insurance models proven in markets like Vietnam.

 

Industry veteran Wilf Blackburn, former Prudential Asia regional CEO, is proposed to chair the venture, with Nikhil Verma slated as CEO, bringing strong leadership credentials.

 

Backed by private equity firm Olympus Capital, LivWell brings expertise from banking and insurance sectors, aiming to replicate and scale its digital insurance success in India.

 

Outlook: Transforming Insurance for a New Generation

 

The JV intends to make life insurance relevant, accessible, and future-ready by marrying fintech innovation with insurtech agility, targeting a demographic increasingly embracing digital financial services but currently underserved by traditional insurers.

 

Sources: NewsBytes, Rediff Money, Business Standard