Verak Inc was co-founded in October 2020 by Vishrut B, Eashan B, Rahul Mathur, Abraz M and Kunal K. The company's first product - BimaPe - allowed customers to get a unified view of their family's insurance via a wallet offering. The product leveraged the India Stack to fetch policyholder details in an instant & used a proprietary machine learning model to decode the policy TnCs in simple words for consumers.
Verak Inc raised a total of $1.85M in venture financing with participation from Sequoia Capital India & Lightspeed India Partners. The company was also a part of Y Combinator's W21 accelerator programme.
In September 2021, the company's first product - BimaPe was retired. And, the team focused on a new SMB insurance offering. The company pioneered an end-to-end WhatsApp based journey for MSME owners in India with multi-lingual support from prospecting to purchase to after-sales support. The company on-boarded 5,000+ MSMEs in its first year of operations with a 8% self-serve purchase rate and subsequent 60% renewal rate.
Verak team is now part of InsuranceDekho from April 2023.
Company Details
- Employees
- 16
- Founded
- -
- Address
- Office No. 316, 3rd Floor, Rupa Solitaire Building, Millennium Business Park, Thane - Belapur Road, Mahape,india
- Industry
- Insurance
- NAICS
-
Insurance Carriers and Related ActivitiesAgencies, Brokerages, and Other Insurance Related Activities
- Website
- bimape.com
- Keywords
- insurance, insurtech, technology.
- HQ
- Navi Mumbai, Maharashtra
Verak (Now, Part Of Insurancedekho) Questions
Verak (Now, Part Of Insurancedekho)'s website is bimape.com
Verak (Now, Part Of Insurancedekho)'s LinkedIn profile is https://in.linkedin.com/company/verak
Verak (Now, Part Of Insurancedekho) has
16 employees.
View email and phone details for 16
employees at Verak (Now, Part Of Insurancedekho).
Verak (Now, Part Of Insurancedekho)'s industry is
Insurance
Verak (Now, Part Of Insurancedekho)'s top competitors are
Devc,
Turtlemint,
Peerlist,
Digit Insurance,
Insurancedekho,
Cars24,
Policybazaar.com,
Z47,
Acko,
Asia Insurtech Podcast.
Verak (Now, Part Of Insurancedekho)'s categories are Insurance
Verak (Now, Part Of Insurancedekho)'s founding year is 2020
