CCI clears InsuranceDekho, RenewBuy merger
10 Nov 2025, 01:24 PMCarDekho-parent Girnar Group’s four entities will be merged into Artivatic Data Labs, an AI-focussed insurtech startup RenewBuy acquired in 2022.
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The Competition Commission of India (CCI) has given the go-ahead for the proposed merger between insurtech firms InsuranceDekho and RenewBuy.
The competition watchdog has approved Girnar Group to consolidate its insurance businesses by merging four companies into Artivatic Data Labs, an AI-focused insurtech firm RenewBuy bought two years ago.
“CCI approves the proposed merger of Girnar Finserv Private Limited; Girnar Insurance Brokers Private Limited; D2C Consulting Services Private Limited; RB Info Services Private Limited into Artivatic Data Labs Private Limited,” CCI said in its release.
Two of these companies – Girnar Finserv and Girnar Insurance – fall under Girnar Software, which operates the InsuranceDekho platform. InsuranceDekho holds composite broking licence from India's insurance regulator. The parent company also manages several consumer platforms including CarDekho, BikeDekho, and others.
D2C Consulting Services and RB Info Services, together operate RenewBuy. This platform connects customers with insurance and financial products through an digital advisor network, while also offering wellness services and acting as an intermediary for loans and credit cards.
Artivatic Data Labs, which will house the combined operations, specializes in artificial intelligence-powered insurance technology, providing automated underwriting and claims processing through cloud-based and API solutions.
This merger effectively combines InsuranceDekho and RenewBuy, potentially creating one of India's biggest technology-driven insurance distribution platforms.
As per industry estimates, the combined entity could be worth approximately $1 billion, with InsuranceDekho accounting for roughly Rs 5,000 crore and RenewBuy around Rs 3,000 crore.
RenewBuy now works with close to 40 insurance companies, while InsuranceDekho secured $70 million in funding earlier this year from investors including Beams Fintech Fund and major financial institutions to enhance its technology infrastructure.
During FY25, InsuranceDekho reported Rs 1,290 crore in revenues in fiscal year 2025, and a loss of Rs 47.5 crore, reversing the previous year's profit of Rs 85.7 crore.
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