GramCover

GramCover is a Noida-based insurer, offering solutions and direct policies all in relation to the crop management and insurance market.

There aim is to create an innovative approach to insurance distribution in rural India through the effective use of technology. All of GramCover’s offerings are available through their slick mobile interface.

They understand that each scenario requires different coverage so they will work hard with consumers to see exactly what type of crop insurance the user wants. They can integrate any existing software to create a smooth and easy to understand insurance platform.

They have created a risk analysis tool which is of particular use to re-insurers to understand the risks better and thus make underwriting an easier process in theory.

Their product has attracted some serious attention and appears to be growing rapidly. In November 2016 they received $1m in funding from Omnivore Capital.

The company states that it has provided insurance to over 1.3m farmers in India since launch, and in FY2019-20 the company brokered $10m in premiums.

In May 2020 the company raised an undisclosed amount of pre-Series A funding from EMVC, Flourish, Omidyar Network India, and Omnivore. The company stated it would use the money to grow its reach and develop new lines of business.