CCI cleared the InsuranceDekho–RenewBuy merger, folding four entities into Artivatic

InsuranceDekho is Girnar Group's full-stack insurance platform with an IRDAI composite broking licence; RenewBuy distributes insurance through a vast network of digital advisors.

InsuranceDekho raised $70M (INR 611 Cr) in March 2025 from Beams Fintech Fund, MUFG and BNP Paribas Cardif to strengthen its tech stack and widen distribution

Girnar Software Pvt Ltd runs CarDekho, BikeDekho, TruckDekho, Rupyy, ZigWheels and CollegeDekho, with subsidiaries Girnar Finserv and Girnar Insurance handling marketing and insurance distribution — Girnar Insurance operates InsuranceDekho. D2C Consulting Services and RB Info Services power RenewBuy, which also acts as a direct selling agent for loans and credit cards.

Inc42 had earlier reported InsuranceDekho and RenewBuy nearing a merger at a potential combined valuation of around $1B (INR 8,000 Cr) — InsuranceDekho north of INR 5,000 Cr, RenewBuy about INR 3,000 Cr. On November 7, 2025 the CCI approved merging Girnar Finserv, Girnar Insurance Brokers, D2C Consulting Services and RB Info Services into Artivatic Data Labs, an AI-native insurtech platform providing underwriting and claims automation through API-based and SaaS solutions.

CCI approval makes this an executed consolidation step, not just merger talks — the regulator cleared all four entity mergers in one order.

The structure is unusual: both distributors merge into an AI-native insurtech platform rather than one brand buying the other.

Scale was the stated aim — a unified structure combining a licensed full-stack platform with a 40-insurer advisor network, at a reported ~$1B combined value.

The merger happened in the legal entities: routing four operating companies into one AI-native platform let two insurance distributors consolidate under one structure.

Despite growth, InsuranceDekho slipped into the red in FY25 with a net loss of INR 47.5 Cr against an INR 85.7 Cr profit in FY24, even as operating revenue surged 73.5% YoY to INR 1,290 Cr. The CCI approval on November 7, 2025 cleared the entities to merge under Artivatic Data Labs.