Angel One Partner's Singapore-based subsidiary, Livwell, is planning to launch a digital-focused insurance company.
In a strategic move to tap into India's underinsured market and diversify revenue streams, Angel One and LivWell Holding Company Pte Ltd have announced a joint venture to launch a digital-first life insurance company. The venture, subject to regulatory approvals, aims to address India's large insurance protection gap of over 83%.
The new entity will focus on young digitally savvy earners aged 26-35, leveraging automation and personalization to improve access and affordability of life insurance. Angel One will hold a 26% stake in the joint venture, with LivWell holding the remaining 74%. The total capital infusion for the venture is set at ₹4 billion (approximately ₹400 crore), with Angel One's investment capped around ₹1.04 billion (₹400 crore).
The proposed joint venture will be chaired by industry veteran Wilf Blackburn, the former regional CEO of Prudential Asia. Nikhil Verma, the current CEO of LivWell, will be appointed as the CEO of the new entity. This partnership marks LivWell's entry into the Indian market, backed by Singapore-based insurtech firm Olympus Capital.
This move comes at a time when the Indian fintech market is expected to be a $2.1 Tn opportunity by 2030, with intense competition in the stock broking segment. Jio Financial Services, MobiKwik, and Flipkart-backed super.money are also looking to enter the burgeoning stock broking market. This trend of Indian fintech companies offering a variety of services after carving out a niche in a particular subsegment continues to grow.
Angel One, with an active client base of 32.47 Mn at the end of June 2025, sees this joint venture as an opportunity to expand its financial services offerings and leverage LivWell's expertise in the insurance and financial sectors. The joint venture will allow Angel One to diversify its revenue streams, further solidifying its position in the competitive Indian fintech landscape.
[1] https://www.angelone.in/ [2] https://www.livwell.sg/ [3] https://www.olympuscapital.com/ [4] https://www.irdai.gov.in/ [5] https://www.prudential.co.uk/
- The new digital-first life insurance company, a joint venture between Angel One and LivWell Holding Company Pte Ltd, will utilize technology to enhance access and affordability of insurance services, particularly targeting young, digitally savvy earners in India.
- This strategic move, aimed at diversifying revenue streams and capitalizing on India's underinsured market, is part of the growing trend in the Indian fintech industry, where companies are expanding their financial services offerings and leveraging expertise in different sectors, such as insurance and technology.
