With Irdai opening doors, insurtech firms look to transform into general insurers

New generation insurtech startups Bengaluru-based Onsurity and Pune-based Loop Health have applied for licences to offer health insurance, three people in the know told ET.

This follows the Insurance Regulatory and Development Authority of India (Irdai) opening the heavily regulated sector to new participants. The sector regulator has sought tech-first firms to play a key role in helping the country achieve the goal of insuring every citizen by 2047.