Assurify Technology Pvt Ltd - InsurTech Innovation Award 2023

1. Blockchain Smart Contracts,
Embedded API Distribution.
Assurify
Technology
Pvt Ltd
Insurance Redefined

2. Assurify Technology Pvt Ltd
Startup India DIPP No: DIPP117349
MCA CIN: U72900TN2022PTC156950
Registered in: Nov, 2022.
Nasscom Fintech Award 2023
Incubated by: IIT Mandi/ AIC BIMTECH
About Us
Company Information

3. Our Team
A well experienced team
with diversified skills.
Umamaheswaran
Co-Founder, Digital
Transformation Expert
with 25+ years of
experience.
Ravindran Srinivasan
Mentor: Ex Ingram Micro,
Operations Expert
providing Market Access to
all major OEM Brands in
India.
Prof Prathik
Priyadarshi
Mentor, HOD Insurance
Department in Brila
Institute of Technology.
Sunder Muthuraman
Mentor, Ex Kanter Practice,
Marketing Expert. Provides
market analysis and
business scale support.
Vijay Gokul
Data Analyst, Indiana
University, USA providing
data analysis support.
Dhevibala Mahesh
Co-Founder, Ex. Nokia,
IIMB Alumni, Handles day
to day operations .

4. Insurance, Re-Defined
We collaborate with Insurance companies
to create Smart Contracts using Hyper
ledger Blockchain and Distribute them
through embedded APIs.

5. Advantage of Blockchain for Insurance
Improved Efficiency: Blockchain can automate many of the manual processes in insurance,
reducing the time and costs involved in processing claims. By using smart contracts,
insurance companies can automate the processes, which reduces the need for intermediaries
and improves efficiency.
Increased Transparency: The use of blockchain can increase transparency in insurance by
providing a secure, decentralized ledger that all parties can access. This transparency can
help to prevent fraud and reduce disputes between insurers and policyholders.
Improved Claims Processing: Blockchain can streamline the claims process by providing a
secure and transparent way to verify claims data. This can reduce the time it takes to process
claims and improve accuracy.

6. Lifecycle of Smart
Contract
Contract Creation
API Embedded
Distribution
Contract Deployment
User Registration
Premium Payment
Policy Issuance
Policy Maintenance
Policy
Expiration
Policy Cancellation
API-based distribution of
insurance-backed protection plans
refers to the process of using
Application Programming
Interfaces (APIs) to distribute
insurance products and services to
customers through third-party
applications or platforms offering
more tailored, convenient
insurance products and services to
customers.

7. InsureTech
transaction value
As of January 2023
The TAM for Insurtech in India is estimated to
be around $280 billion by 2025, as per a report
by Google and Boston Consulting Group.
SOM - Serviceable Obtainable Market: We can
realistically target and capture 10% based on
its business model, resources, and marketing
strategy.

8. Insurance
Partners
• ICICI Lombard
• IFFCO TOKIO
• Univeral Sampo
• HDFC Ergo

9. Categories
We are starting with insurance backed protection
plans for consumer electronics products, like
Mobilephones, Tablets, Laptop Computers, Smart
TV, Large Appliances, Small Kitchen Appliances, Air
conditioners and more.
We will be adding more categories like EV
Vehicles, Drones, Robots, Wearables, Farm
Equipment and more.

10. Claim Fulfiment
Partner
Assurify has appointed Warrantify.in as
TPA to provide hassle free Claim
fulfilment services of Electronic Devices
& Electric Vehicles.
Warrantify has access to 5000+
Servicers in 18000 pin codes across
India.

11. Client - Bigfix Assure
Protection Plans for Consumer Electronic Devices
B2C B2B B2B2C
Assurify APIs are integrated
with Bigfix Vault APP to
manage cusotmer home and
office devices.
Assrify APIs are integrated with
Bigfx Merchat APP for retail
shops to sell protection plan
along with product sales.
Assurify APIs are integrated
with prodcuts directly by OEM
before distribution.

12. Unit Economics
1 2
Average ticket size
of Extended
Warranty plan is
₹2500/- (8% of
30000)
We plan to sell 10000
units during our first
year of operation and
scale upto 50000
units in five Years.
Year 1: 25,000,000
Year 2: 35,000,000
Year 3: 49,000,000
Year 4: 68,600,000
Year 5: 96,040,000
5
We will operate at 30% Margin from 2nd year.

13. We will grow10X in 5 years,
targeting a valuation of 100
Crores.
Pre-Series of 18 Cr planned for 2023 September

14. Do you
have any
questions?
Send it to us!
umw@assurify.in
Call: 9790946899