In the ever-growing world of insurance, Digit Insurance has emerged as a game-changing insurer that has revolutionized the industry. With a unique approach towards customer experience and product offerings, Digit has managed to carve a niche for itself in the Indian insurance market. In this article, we will explore the journey of Digit Insurance and how it has risen to become an industry leader.
Digit’s Journey to Triumph: A Game-Changing Insurer emerges
Digit Insurance was founded in 2016 by Kamesh Goyal, who was previously the CEO of Bajaj Allianz General Insurance. The company was started with a vision to make insurance simple, transparent, and accessible to everyone. Digit Insurance started its operations with a focus on two-wheeler insurance and later expanded to other segments like health, travel, and personal accident insurance.
Digit Insurance’s unique approach towards customer experience has been the driving force behind its success. The company has leveraged technology to simplify the insurance buying and claims processes, making it hassle-free for customers. Digit Insurance’s customer-centric approach has earned it a loyal customer base, making it one of the fastest-growing insurers in India.
The Rise of Digit: From Scrappy Startup to Industry Leader
In a short span of five years, Digit Insurance has emerged as an industry leader in the Indian insurance market. The company has grown at a remarkable pace, with a CAGR of 74% in gross written premium (GWP) from FY17-FY20. Digit Insurance’s market share in the non-life insurance segment has also increased from 0.02% in FY17 to 2.07% in FY20, making it one of the top ten general insurers in India.
Digit Insurance has also received several accolades and recognition for its innovative products and customer-centric approach. In 2020, Digit Insurance was awarded the “General Insurance Company of the Year” award at the prestigious Indian Insurance Awards. The company’s success can be attributed to its focus on innovation, customer experience, and product offerings that cater to the changing needs of customers.
Digit Insurance’s journey from a scrappy startup to an industry leader is a testament to the power of innovation and customer-centricity. The company has disrupted the traditional insurance industry with its unique approach towards product offerings and customer experience. As Digit Insurance continues to grow, it will be interesting to see how it continues to innovate and revolutionize the insurance industry.
