“ CONSUMERS UNDERSTAND THE VALUE OF THEIR DATA AND BELIEVE ITS PRIVACY SHOULD BE PROTECTED , BUT THIS DOESN ’ T MEAN THEY ’ RE UNWILLING TO SHARE THEIR INFORMATION ”

JOE DIAMOND VP of Product Strategy EMEA , Okta

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“ DESPITE THE OPPORTUNITIES IN FRONT OF THE INDUSTRY , INSURANCE ’ S ADOPTION OF ML AND DL HAS BEEN FAIRLY SLOW ”

JOHN ARDELIUS CTO and Co-Founder , Hedvig

Leading Indian insurtech Digit Insurance has gone ahead and filed for its IPO , despite the current financial climate prompting other insurtechs to defer the process . According to reports , Digit Insurance is seeking to raise an estimated US $ 440mn from a potential public listing .

The company recently received a valuation of US $ 3.5bn following a funding round in 2021 , which was led by Sequoia Capital , A91 Partners , Faering Capital , and Fairfax . The company , which was founded in 2017 by former KPMG executive Kamesh Goyal , has gone from strength to strength since .

It will want to avoid the fate of India ' s biggest public offering – that of the state-owned Life Insurance Corp – which dropped almost 8 % on its debut back in August after it raised US $ 2.7bn . The margin was far below the company ’ s plans to raise US $ 12bn . Furthermore , the Indian fintech Paytm also dropped significantly after its US $ 2bn IPO last year .

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“ WHEN YOU LOOK AT THE APPLICATIONS WHERE IOT DEVICES ARE BECOMING WIDELY USED , THERE ARE SERIOUS IMPLICATIONS ”

MIKE MCGRATH Senior Lead Penetration Tester , Bridewell Consulting

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12 November 2022