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What is the story about?
Conversational fintech app jUMPP has received regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI) to distribute insurance products through its platform, following the grant of Corporate Agency and Insurance Self Network Platform (ISNP) licences.
With this approval, the AI-powered fintech app will be able to offer insurance products on its platform, marking its entry into the insurance distribution segment. The company said the move is part of its broader plan to expand its financial services offerings beyond investments.
Founded in 2025, jUMPP currently operates as a digital financial services platform focused on investing, savings, payments, and borrowing. With the addition of insurance, it plans to build an integrated offering covering wealth creation and financial protection products over time.
The company intends to offer insurance products across categories including health, life, motor, business, and home insurance through partnerships with insurers. It also plans to develop a fully digital insurance journey, allowing users to discover, purchase, and manage policies through the app.
India’s insurance sector is expected to remain one of the faster-growing segments in financial services, supported by rising digital adoption and expanding coverage demand across customer segments.
Speaking on the development, Sarvjeet Singh Virk, founder and CEO, UMPP, said insurance is a natural extension of the platform’s financial services offering and that the company plans to use artificial intelligence to support product recommendations and user engagement.
The company said insurance distribution will be rolled out in phases as it builds out its product suite.
With this approval, the AI-powered fintech app will be able to offer insurance products on its platform, marking its entry into the insurance distribution segment. The company said the move is part of its broader plan to expand its financial services offerings beyond investments.
Founded in 2025, jUMPP currently operates as a digital financial services platform focused on investing, savings, payments, and borrowing. With the addition of insurance, it plans to build an integrated offering covering wealth creation and financial protection products over time.
The company intends to offer insurance products across categories including health, life, motor, business, and home insurance through partnerships with insurers. It also plans to develop a fully digital insurance journey, allowing users to discover, purchase, and manage policies through the app.
India’s insurance sector is expected to remain one of the faster-growing segments in financial services, supported by rising digital adoption and expanding coverage demand across customer segments.
Speaking on the development, Sarvjeet Singh Virk, founder and CEO, UMPP, said insurance is a natural extension of the platform’s financial services offering and that the company plans to use artificial intelligence to support product recommendations and user engagement.
The company said insurance distribution will be rolled out in phases as it builds out its product suite.
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