Digit Insurance, which recently raised funds at a valuation of $3.5 billion, is seeing an opportunity to scale up business in the current fiscal as several insurers are facing capital constraints in the wake of adverse claim ratios. With capital at nearly thrice the statutory requirement, the company also has tech infrastructure to support growth.
The private insurer, which is already ranked 15th among the 30 non-life companies (including health), has recorded a gross written premium of Rs 2,196 crore for the first half of FY22, which is 67% more than the same period of the previous fiscal. Currently, around 55% of its premium comes from motor insurance.
