Mumbai: Angel One Limited, one of India’s leading FinTech platforms, and LivWell Holding Company PTE Limited have announced plans to form a joint venture to establish India’s first digital-first life insurance company, pending regulatory approvals.
The digital-first life insurance initiative marks a significant step in transforming life insurance accessibility and adoption through a technology-first, protection-led approach.
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With a total proposed capital infusion of ₹4 billion, Angel One will hold a 26% stake, while LivWell will hold 74% in the joint venture.
This strategic collaboration aims to bridge India’s life insurance protection gap—currently estimated to exceed 83% – especially among the underserved digital-native population aged 26–35.
Digital-First Life Insurance: Personalized, Transparent, Affordable Products
The proposed venture will operate on a digital-first architecture, using AI, data analytics, and process automation to deliver personalized, transparent, and affordable life insurance products. It will also benefit from Angel One’s expansive customer reach and LivWell’s deep insurance expertise.
“Life insurance should provide confidence, not confusion,” said Ambarish Kenghe, Group CEO of Angel One Limited. “This partnership aligns with our vision of offering end-to-end digital financial services – from investing and savings to protection. The JV’s offerings will strengthen our digital distribution in the protection segment and enhance long-term value for our clients.”
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The leadership team of the proposed venture includes industry veterans:
- Wilf Blackburn, ex-Regional CEO, Prudential Asia, as Chairperson
- Nikhil Verma, ex-Deputy CEO, Aviva Vietnam, as Chief Executive Officer
LivWell is backed by Olympus Capital, a private equity firm with over US$2.6 billion in investments across Asia, including in Indian institutions such as HDFC Bank, Karur Vysya Bank, and CreditAccess Life Insurance.
“Our Vietnam model has shown that embedded, digital-first life insurance can scale rapidly while building trust,” said Nikhil Verma, CEO of LivWell.
“India’s tech-savvy, yet underinsured population presents a unique opportunity to redefine life insurance access and relevance.”
As India moves toward the government’s vision of “Insurance for All by 2047”, this joint venture is poised to play a transformative role in democratizing insurance and fostering financial wellness across demographics.
