Insurance Samadhan, an online platform focused on assisting policyholders in resolving insurance grievances, has raised Rs 8.5 crore in a strategic round of funding backed by a group of family offices, with Innovito Ventures acting as the financial advisor to the deal. The new funding takes the total capital raised by the startup to over $4.58 million since its inception in 2018.

It is founded by Deepak Bhuvneshwari Uniyal, Shailesh Kumar, Sanjay H Aggarwal, Shilpa Arora, and Ravi Mathur, the Noida startup looks to bring clarity, transparency, and efficiency into an otherwise opaque and paperwork-intensive sector. Through its digital-first mode, Insurance Samadhan benefits policyholders, advisors, hospitals, and insurers by providing faster resolution of disputes and an overall improved insurance experience.

"Our vision is to simplify insurance, make it more transparent, efficient, and accessible," said Uniyal. "By leveraging digital tools, we want to empower consumers and stakeholders across the value chain."

In order to combat problems such as misselling and claim rejections, Insurance Samadhan has a "Know Your Policy" facility that enables customers to detect errors or inconsistencies—like misstated health conditions, habits, contact particulars, or nominee names—in their life and health insurance policy documents. The facility is intended to avert possible claim rejections or delays in the future.

The startup will leverage the newly raised capital to enhance its technology infrastructure , expand its suite of services, and scale Polifyx, which has been said to cut the average complaint resolution time by more than 55%, from 60 days to nearly 27 days. Even though India's insurance industry is expanding at a rate of 7% every year, its penetration remains low at just over 3%, based on market reports. Samadhan Insurance asserts that it has successfully handled and resolved more than 18,000 customer grievances and helped recover Rs 160 crore in claims.