India's FinTech platform Angel One and Singapore-based InsurTech LivWell have announced the setting up of a digital-first life insurance JV in India, subject to regulatory approvals.
The two companies will invest INR4bn ($46m) in the JV in which Angel One will have a 26% stake and LivWell the remaining 74%. The JV is poised to be India’s first Fintech-backed life insurance business, being built for the country’s growing base of digital-native consumers. Despite a growing financial awareness and digital penetration, India remains overwhelmingly under insured, with protection gaps exceeding 83%, Indians lack adequate life insurance, especially among young earners aged 26–35, highlighting a need for greater innovation, transparency, accessibility, and trust, around insurance products and distribution. The JV will focus on operating on a digital-first architecture, leveraging tech-driven automation and personalisation to make insurance affordable, accessible and aligned to real-life needs.