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Synopsis
Digit’s fundraising comes at a time when rival Acko is said to be in advanced talks to raise $200 million to become a unicorn, thus underscoring the heightened investor interest in India’s insurtech space.
ETtech
Digit’s funding round one of the largest in India’s general insurance industry will propel the startup into the ranks of the most valued ‘insurtech’ ventures in South Asia. (Illustration: Rahul Awasthi/ETtech)
Mumbai: Canadian billionaire Prem Watsa-backed general insurance startup Digit is raising $200 million from new investors Sequoia Capital India and IIFL Alternate Asset Managers as well as existing investor Faering Capital and others in a round expected to double its valuation to $3.5 billion in less than six months, a top executive said.
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The IAS really does not have much reason to be disappointed by the remarks of the Prime Minister. Due to the breadth and depth of experience in the states and their long association with politicians, the IAS will continue to enjoy preferences in discretionary appointments
Digilocker will drive reduction in costs, elimination of customer complaints relating to non-delivery of policy copy, improved turnaround time of insurance services, faster claims processing and settlement