Angel One, a fintech platform, announced a joint venture with LivWell, a Singapore-based insurtech company, to start a digital-first life insurance company.
The new company will be co-promoted by Angel One (26%) and LivWell Holding Company (74%), with an investment of ₹400 crore.
With the JV, Angel One and LivWell aim to disrupt life insurance with a protection-first, tech-led model in India. 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.
Wilf Blackburn, ex-Regional CEO of Prudential Asia, is proposed to chair the proposed venture, while Nikhil Verma, former Deputy CEO of Aviva Vietnam, is proposed to lead as CEO.
Ambarish Kenghe, Group CEO at Angel One, said. “Life insurance, at its core, should offer clarity and confidence, not complexity. Yet, according to recent research, over 40%2 of policyholders struggle to understand their coverage. LivWell’s protection-centric, digitally native model is built to change that. As India embraces digital financial services, insurance too must be accessible, transparent and seamlessly delivered through trusted platforms. This partnership also deepens our offerings across the financial lifecycle— bringing us closer to delivering a seamless, end-to-end experience across savings, investing and protection. The products sourced from this JV will help strengthen our digital distribution framework for the protection segment, further fortifying our long-term association with our clients.”
Nikhil Verma, CEO, LivWell, said, “At LivWell, we have seen how protection products, when delivered with simplicity and purpose, can drive meaningful impact at scale. In our first market, Vietnam, embedded, digital-first insurance models have demonstrated strong potential for scale, proving that trust and reach can go hand in hand. India presents a unique opportunity not just because of the protection gap, but because consumer expectations have fundamentally evolved. With Angel One’s digital reach and market credibility, we see a strong alignment to build a next-generation digital-insurer that is relevant to today’s customers, accessible and future-ready.”
LivWell is being backed by Olympus Capital, an Asia-focused private equity firm with over US$2.6 billion invested. Olympus has backed 20+ companies across financial services in Asia, including HDFC Bank, CreditAccess Grameen, Thai Credit Bank, Karur Vysya Bank, Utkarsh SFB and CreditAccess Life Insurance.
