Angel One, India’s leading FinTech platform, proposes to enter into a Joint Venture with LivWell to promote a digital-first life insurance company
FinTech BizNews Service
Mumbai, July 23, 2025: Angel One, India’s leading FinTech platform, proposes to enter into a JV with LivWell to promote a digital-first life insurance company, subject to regulatory approvals. The proposed company with a capital infusion of Rs 4.0 billion, is being co-promoted by Angel One Ltd (26%) and LivWell Holding Company PTE Ltd (74%), with a shared vision of redefining access to life insurance in India, through technology and trust.
Despite a growing financial awareness and digital penetration, India remains overwhelmingly under insured. With protection gaps exceeding 83%, Indians lack adequate life insurance, especially among young earners aged 26–35, highlighting a need for greater innovation, transparency, accessibility and trust, around insurance products and distribution.
Angel One and LivWell aim to address this with simple, reliable and protection-led offerings, backed by seamless digital experiences. 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.
Ambarish Kenghe, Group CEO at Angel One Limited, 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.”
The LivWell leadership team brings along extensive insurance and financial expertise. 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. 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.
Mr. Nikhil Verma, CEO, LivWell, added “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.”
India’s life insurance space is entering a high-growth phase, driven by the Government’s vision of ‘Insurance for All by 2047’. This partnership is well-positioned to bridge the protection gap by making life cover simpler, more accessible and easier to comprehend. By building a protection-first insurer, Angel One and LivWell are addressing a large, underserved market, while reinforcing their shared focus on financial wellness.
This marks another milestone in Angel One’s journey to deepen its role as a full-stack financial services powerhouse.
