Zopper Registers 35% Cagr Over the Last Two Years; Aims for an IPO by 2028–29

Zopper, India’s leading insurtech company, has announced that it has sustained a 35% CAGR over the past two years, driven by strong performance across its core verticals and disciplined operational execution. The company is now accelerating toward its long-term ambition of going public by 2028–29.

Zopper expects to exit the current financial year at a run rate exceeding INR 1,000+ crore in Gross Written Premium (GWP), with a sustained annual growth trajectory of 35–40% in the coming years.

Over the past three quarters, Zopper has recorded consistent margin expansion and cost stabilisation, reflecting improving unit economics and business maturity. Growth has been led by its Device and Appliance Protection business, Health & Life insurance distribution, and its rapidly scaling Bancassurance SaaS platform.

Zopper’s revenue model is anchored in three diversified and scalable streams: program management fees from its Device & Appliance Protection business, brokerage commissions earned through its licensed insurance broking subsidiary, and recurring SaaS revenues driven by the growing adoption of its bancassurance technology platform by leading banks. This balanced mix of fee-based, commission-led, and technology-driven income positions the company for sustainable and predictable growth.

Zopper’s mission is to make insurance simple, contextual, and embedded within everyday consumer journeys. By leveraging technology to streamline underwriting, reduce issuance time to minutes, and design tailored micro-products, the company has significantly improved accessibility across ecosystems spanning lifestyle, digital commerce, and financial services. Zopper also facilitates post-sales servicing by supporting customers in documentation and communication with insurers, helping create a seamless end-to-end experience. Over the past three years, Zopper has successfully facilitated more than 1.5 million claims, underscoring the scale and resilience of its platform.

Zopper has raised $125 million to date from marquee investors, including Creaegis, Bessemer Venture Partners, ICICI Venture, Blume Ventures, Elevation Capital, and Dharana Capital. With a 600+ member team across technology, sales, strategy, and operations, the company plans to double down on its market penetration in the country, alongside pursuing global expansion and strategic acquisitions in emerging markets.

Zopper has been actively integrating AI and Generative AI across underwriting, sales optimization, fraud detection, and customer servicing. By embedding AI across its insurance value chain, the company aims to reduce marginal distribution costs while enhancing personalization and speed. Its proprietary Digi-Banca platform offers a unified, end-to-end technology stack for insurers and banks, enabling seamless integration and improved customer journeys across multiple financial institutions.

Mr. Surjendu Kuila, Co-founder & CEO, said, “At Zopper, our goal has always been to reimagine insurance distribution through thoughtful technology and responsible innovation. We work closely with insurers across General, Health, and Life segments to design byte-sized, contextual products that meet customers where they are. As we scale, our focus remains on sustainable growth, strong governance, and building a platform that can create long-term value for all stakeholders.”

Mr. Mayank Gupta, Co-founder & COO, added, “The Indian consumer is evolving rapidly, prioritising convenience, speed, and trust. This shift demands a new distribution architecture powered by data and AI. We are building Zopper with disciplined execution, strong unit economics, and a long-term perspective. As the insurtech ecosystem enters its scale-up phase, distribution intelligence, deep technology integration, and operational excellence will define the next leaders.”

Zopper has partnered with 25+ insurance companies and over 2,500 ecosystem players, with presence across 1,200+ cities in India. The company works with 150+ large enterprise clients, including leading brands such as Croma, Samsung, Xiaomi, Godrej, Bank of Baroda, RBL Bank, and alumni associations of IIM Bangalore, IIM Kozhikode, and ISB, among others.