Go Digit General Insurance Ltd Company Summary

Go Digit General Insurance Ltd Summary

Go Digit General Insurance Limited was incorporated as Oben General Insurance Limited at Pune, Maharashtra on December 7, 2016 by the Registrar of Companies. Subsequently, name of the Company was changed to Go Digit General Insurance Limited, and a fresh Certificate of Incorporation was issued by the RoC on June 12, 2017. The Company is one of the leading digital full stack insurance companies leveraging its technology with an innovative approach to product design, distribution and customer experience for non-life insurance products. The Company distribute products through a diversified, primarily partnership-based model across a variety of channels. It offer motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products, to meet customers needs. The technology platform supports product design by enabling the incorporation of a modular product architecture and provides the backbone in application program interfaces (API), applications, portals and website conveniently. It is one of the first non-life insurers in India with complete operations on cloud and has developed application programming interface (API) integrations with several channel partners. Besides this, it utilize artificial intelligence and machine learning to increase automated processing in applications and claims.The Company was the first insurers in India to offer customizable insurance for flights delayed for at least 60 minutes, coverage period and payment schedule, group illness insurance covering COVID-19 hospitalization costs. It also introduced 100% automated travel insurance and provided 90 minutes flight delay cover. Since the start of insurance operations in 2017, the Company launched different products, of which 56 were active as of March 31, 2022. It offered travel insurance, including flight delay and cancellation protection, as well as coverage for baggage losses. Approved by the IRDAI in March 2018, it developed an unbundled mobile insurance offering to purchase coverage for specific issues with their mobile device while avoiding the need to pay for more expensive coverage options.The Company is planning to come out with a public issue by raising capital of Rs 1250 crore Equity Shares through Fresh Issue and by issuing 109,445,561 Equity Shares through Offer for Sale..