Verak (now, part of InsuranceDekho) Company Profile, Contacts & Intelligence

Verak (now, part of InsuranceDekho) Overview

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.

Headquarters

Mahape, Maharashtra, In

Website

bimape.com

Industry

Insurance

Founded

2020

NAICS

Insurance Carriers and Related Activities, Agencies, Brokerages, and Other Insurance Related Activities

Verak (now, part of InsuranceDekho) Contact Intelligence

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Verak (now, part of InsuranceDekho) Workforce Composition

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