Digit Life Insurance Hits FY24-25 Revenue Hits Rs. 1,300 Crore, Serves 6.7 Million Customers

Go Digit Life Insurance Limited (Digit Life), a leading new-age life insurance company, announced that its revenue (total gross written premium including reinsurance inward) stood at Rs. 1,315.9 crore in FY 2024-25 compared to Rs. 492.5 crore in the year-ago period. In FY 2024-25, the company’s gross written direct premium increased to Rs. 1,069.4 crore YoY from Rs. 426.4 crore.

The company settled claims worth Rs. 2.88 billion in FY 2024-25, with most claims (worth Rs. 1.97 billion) being paid under the Group Term Life Insurance category. Digit Life's average TAT of death claims settlement (after receiving all documents), too, improved to 1.89 days during the year from 2 days in FY 23-24, with its Claims Settlement Ratio for the same period hitting 99.53 percent.

Digit Life shared the key figures as part of the second edition of its Transparency Report. As part of its core value of "Being Transparent", Transparency Report is Digit Life's bi-annual exercise where it goes beyond mandatory disclosures and shares various data-led insights and stories.

Commenting on the growth, Sabyasachi Sarkar, MD & CEO, Digit Life, said, “We’re encouraged by the response we have received in the last one year. We now have a robust portfolio of both retail and group products and will look to expand both segments equally in the coming years. We, as a company, will continue to focus on simplifying life insurance products and improving trust levels in the ecosystem, with the transparency report both as our report card and trust promise.”

The company also shared details of its tech innovations built in-house. It has developed a fully automated and secure verification process to identify and check declaration matches and built advanced Face Matching technology to verify the identity of its customers. It has also developed a Claim Document Classification service that uses intelligent process to quickly sort claims documents.

Digit Life Insurance has served 6.7 million customers since its inception and now has over 4,000 agents and intermediaries. Its Solvency Ratio currently stands at 3.85. The company currently has over 950 employees and 36 branches pan-India.