7 November 2024, Bengaluru: Go Digit General Insurance Limited (“Digit Insurance”), one of India’s leading new-age insurance company, announced it has won the “General Insurance Company of the Year” Award at the prestigious 28th Asia Insurance Industry Awards (AIIA) 2024 held in Singapore on 4 November. It is also the sole Indian company to win the prestigious award this year.
This is Digit Insurance’s fifth AIIA award in last six years. The award was received by Jasleen Kohli (MD & CEO) and Amrit Arora (CHRO) at the ceremony held at Marina Bay Sands Expo & Convention Centre in Singapore. The company last won the AIIA General Insurance Company of the Year Award in 2019 and 2020. It bagged the Digital Insurer of the Year Award in 2021 and 2023. It is also the only Asian insurance company to have bagged the General Insurance Company of the Year award thrice in the last six years.
Commenting on the win, Jasleen Kohli, MD & CEO, Go Digit General Insurance, said, “We are thrilled and honoured to win the prestigious General Insurance Company of the Year Award at 28th Asia Insurance Industry Awards. Being obsessed with the idea of simplifying insurance and using technology to bring in transparency and trust is what has helped us create a niche for ourselves and reach 60 million customers in a short span of 7 years. The journey ahead is a long one for us as we continue to chase our mission of making simplified insurance solutions accessible to every Indian.”
The Asia Insurance Industry Awards, 2024 stated that “Since its inception in 2017, Digit General Insurance has seen growth that has impressed many. A core business idea of bringing simplified insurance solutions to the tier-2 and tier-3 cities and villages of India has allowed it to become one of the fastest growing general insurers in the nation.”
*As of end of FY2023-24; #As of end of Sept 2024; GIC Segment-wise Report; Market share based on Gross Written Premium of Q2 FY2025• Became youngest General Insurance Company to be listed on Indian bourses.
• Clocked over $1 billion* in revenue within 6 full years of operation.
• Became top 5 private general insurance player in motor insurance with a market share of 6.2%#.
• Became one of India’s leading digital full-stack insurance companies.
• Total Customers Served since inception jumped 70% from 3.53 crore in December 2022 to 6 crore customers in September 2024.
• Clocked Profit After Tax (PAT) of Rs 182 crore in FY24 and Rs 191 crore in H1FY25.
• Reported growth of 18% in H1FY25 vs industry growth of 7%.
• Ranked 5th by LinkedIn in Top Companies to Grow Your Career in India.
• Ranked 349 in the Fortune India 500 Companies.
Digit Insurance was also among the top three finalists in three other categories namely “Health Insurance Company of the Year”, “AI Initiative of the Year” and “Women Leader of the Year (Jasleen Kohli)”. It was also among the only two companies nominated in as many as four categories this year.
The winners of AIIA go through very tough competition each year from top insurance companies in Asia. The judging process has a clearly defined criteria, transparent process, and is independently scrutinized by KPMG. The finalists this time were selected from over 200 nominations received across 17 categories. The process is rigorous with two rounds of judging done by 20 prominent judges chosen from the Asian insurance industry. This is followed by interviewing the shortlisted candidates.