GramCover provides insurance products for farmers and rural households using an online-to-offline distribution model centered on trained local agents (POSPs) who sell policies and process payouts via smartphones. Its core offerings include crop, livestock, motor, and health insurance tailored to smallholder needs. The company leverages a technology platform plus a human-assisted agency network of micro-entrepreneurs (housewives, students, village-level businesspeople) to build trust and enable claims support. GramCover has served close to 1.7 million rural customers in the past year and reports ₹1.1 billion ($14.8 million) in premiums over that period; it has insured 3.7 million farmers since launch. The startup aims to insure 10 million farmers in the next three years and target ₹10 billion ($135 million) in premiums. It plans to use new funding to strengthen its technology stack and expand deeper in the 13 states (around 8,000 villages) where it currently operates. GramCover operates an online-to-offline insurtech platform that links rural customers to insurers and offers policies spanning health, life, crop, livestock, and vehicle protection. Central to its model is a POSP (point-of-sale-person) network of trained village entrepreneurs who can sell policies and process payouts in remote areas or local stores. The startup targets low insurance penetration in rural India by providing last-mile delivery, transparent pricing, and claims support tailored to smallholders. GramCover plans to expand its POSP network nationwide, launch new products for farmers and small-town consumers, and build out its technology stack. It aims to acquire 5 million customers over the next two years through a government partnership to distribute subsidized national crop insurance and collaborations with agribusinesses, cooperatives, and NGOs. The company says it has already hit bottom-line breakeven and expects to be profitable by March 2021.

Total raised

$7M

Funding rounds

2

Latest round

Series A

Latest activity

Oct 2021