Reshaping access, Zopper takes insurance to the next level
Founded in 2011 by Surjendu Kuila and Mayank Gupta, Zopper has emerged as one of India’s rapidly growing insur-tech distribution and embedded insurance platforms. After exiting its hyper-local commerce and point-of-sale business to PhonePe in 2018, the company reinvented itself as a technology-led insurance ecosystem player, focussing on simplifying and scaling insurance distribution across India.
Today, the Noida-headquartered company operates across health, life, assurance and bancassurance segments, helping banks, retailers, financial inter-mediaries and digital platforms distribute customised insurance products through embedded and API-driven solutions. The company has reached an annualised gross written premium (GWP) run rate of nearly Rs1,000 crore in 2025-26, with consolidated revenues estimated at Rs300-350 crore. Zopper is targeting 35-40 per cent annual growth in the coming years and plans to scale its GWP to Rs2,936 crore by 2028-29. It is also evaluating a potential IPO by 2029.
Zopper has raised about $125 million from investors including Elevation Capital, Bessemer Venture Partners, Blume Ventures and ICICI Venture. The company’s last funding round came in November 2024, when it raised $25 million. Zopper is now evaluating another round of fundraising by the end of 2026 to support expansion and technology investments.
“Unlike direct-to-consumer insurance marketplaces, Zopper primarily follows a B2B and B2B2C model,” says Surjendu Kuila, founder & CEO, Zopper. “It works with ecosystem partners such as banks, mutual fund distributors, chartered accountants, retailers and digital businesses, enabling them to offer insurance products to their existing customer base”.
“The company’s platform integrates insurers, customer journeys, compliance systems and claims servicing into a unified technology infrastructure,” affirms Mayank Gupta, co-founder & COO, Zopper. “Zopper works with over 45 insurers and claims to have developed more than 5,000 APIs across multiple insurance and warranty use cases. Its partner ecosystem spans more than 11,000 partners across the country”.
Building deep expertise
One of the company’s strongest verticals remains its assurance business, which includes extended warranties and damage protection plans for smartphones, electronics and home appliances. Zopper works with major retail and electronics ecosystems to embed protection plans into product purchases.
The company’s assurance operations have helped build deep expertise in claims management and underwriting analytics. Zopper handles over 25,000 claims a month during peak periods and has settled more than 700,000 claims to date. Its service network covers over 19,000 PIN codes across India.
Beyond appliance and device protection, the company has been expanding aggressively into health and life insurance distribution. A major focus area has been alumni-led health insurance programmes for premier educational institutions.
Zopper has designed customised ‘super top-up and group personal accident’ plans for alumni communities, offering features such as Hospicash and wellness benefits. Over 35,000 alumni are covered under these programmes, while nearly 200,000 lives are protected across the ecosystem.
India’s insurance sector remains significantly under-penetrated and technology-led distribution can help bridge the gap, particularly in Tier II and III cities. According to the founders, traditional insurance expansion often becomes expensive because of branch infrastructure and manpower requirements. Instead, Zopper’s strategy focuses on leveraging existing trusted intermediaries such as mutual fund distributors, chartered accountants and banking relationship managers.
“The only way to make insurance affordable and scalable in India is by reducing distribution costs through technology,” the founders feel. In the bancassurance space, the company is building SaaS-led infrastructure solutions for banks and financial institutions. Its offerings include insurance SaaS platforms, loan insurance management systems, claims CRM and compliance-led distribution tools.
Artificial intelligence is also becoming a major part of Zopper’s operating model. The company is using AI and machine learning across claims assessment, fraud detection, contract summarisation and compliance automation. It is additionally exploring deep fake detection and explainable AI.