Symbo Insurance

Symbo is an innovative insurtech based company aiming to become the world's largest embedded insurance distribution platform. Symbo focuses on integrating insurance products into the purchasing journeys of retail and e-commerce companies, making insurance more accessible and relevant to consumers.

Core Products and Services

• Embedded Insurance Platforms: Proprietary SaaS solutions for insurance companies and brands to distribute and manage policies digitally.

• Customized Coverage Products: Co-created with partners to address specific needs, such as product protection, health and gig worker insurance.

• Digital Policy Issuance and Claims Management: Fully digital, API-driven processes for instant policy issuance and seamless claims handling.

• Enterprise Solutions: Tools for insurers and large enterprises to manage distribution, analytics and customer engagement.

business model and revenue streams 

• Platform Fees & Commissions: Earns revenue from each insurance policy sold or managed through its digital platform.

• Service Contracts: Provides technology and consulting services to insurers, brokers and enterprise clients, generating recurring income.

• Embedded Insurance Solutions: Integrates insurance into partner products (retail, e-commerce, gig platforms), creating additional revenue streams.

• Agent Network: Supports over 80,000 agents and technology partners, earning from agent-driven sales and licensing.

• Custom Product Development: Co-creates tailored insurance products with partners for incremental income.

• Predominantly B2B: Mainly serves insurers, brokers and large enterprises; limited direct B2C business.

key milestones

• 2017: Founded in Mumbai, India, with a significant presence in Singapore.

• 2019: Launched its digital insurance platform in Singapore, marking regional expansion.

• 2020–2023: Expanded embedded insurance partnerships with major brands and e-commerce players.

• 2023–2024: Surpassed 1 million policies sold and partnered with over 20 brands.

• 2024: Recognized with the “Insurtech Broker Initiative of the Year” award at the Insurance Asia Awards.

• 2025: Won the “BEST AI/ML INNOVATION FOR OPERATIONAL EFFICIENCY” award at CIO Collective Awards.

Top Clients & Partnerships

• Retail and E-commerce Brands: Notable partnerships include Lenskart, for whom Symbo developed a first-of-its-kind eyewear insurance solution, achieving a 15% attachment rate and significant customer satisfaction.

• Gig Economy Platforms: Symbo provides health and accident insurance for gig workers, securing 90,000 shipments and ₹100 crore in insured goods within the first month of one such partnership.

• Leading Insurers: Integration with top global and regional insurance providers to deliver a seamless, digital customer experience.

• Other Strategic Partners: Collaborations with additional retail, logistics and 

Future Outlook & Strategic Priorities

• New Product Development: Expansion into new insurance lines and customized solutions for emerging sectors such as gig economy platforms and digital marketplaces.

• Market Expansion: Penetration of under-served markets in India and Southeast Asia and exploration of opportunities in other high-growth regions as embedded finance gains traction.

• M&A Pipeline: Potential for strategic acquisitions to enhance technology, distribution and service capabilities.