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GODIGIT IPO

Go Digit General Insurance Limited
Start Date15-05-2024
Application Timing10am-5pm
Price Range₹258 - ₹272
Min Qty55
Min. Investment₹14190
Listing DateNA
Close Date17-05-2024

About Go Digit General Insurance Limited

Go Digit is one of the leading digital full stack insurance companies, leveraging technology to power innovative approach to product design, distribution and customer experience for non-life insurance products. They are fully licensed and controlled by regulatory authority to undertake sourcing, underwriting and servicing all in-house. As a digital full stack insurer Go Digit is an insurance manufacturing company focussed on integrating technology in their operations. They offer motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products.

Why To Invest in Go Digit General Insurance Limited

Leading non life full stack digital insurance company leveraging technology. The Company proposes to utilise the Net Proceeds towards:

  1. To undertake its existing business activities; and
  2. Further, the Company expects to receive the benefits of listing the Equity Shares on the Stock Exchanges, which, the company believes, will enhance the visibility and its brand image among its existing and potential customers.
Financial Table
YearFY 2021FY 2022FY 202331 Dec 2023
Revenue (Rs. Cr)-118.55-293.6439.19130.83
Profit After Tax (Rs. Cr)-122.76 -295.85 35.54129.02
Strengths And Risks
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Customer Experience : Go digit's focus on the high quality customer experience by providing simple documentation and efficient paperless process with customised insurance options has resulted in high customer satisfaction, evidenced by their net promoter scores of 75.4% for non-claims and 96.8% for motor claims.
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Distribution Partners: Go digit works with various distribution channels and extends its technology and expertise to distribution partners to develop customized solutions that provides them with the tools, products, information and support to effectively target and service customers.
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Predictive Underwriting Models: Company has combined its expertise in the motor insurance market with its data bank to build extensive underwriting models that they use to accurately assess risk and predict losses for its motor insurance products at a granular level. This allows them to better manage costs, and tailor our products to serve more customers.
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Advanced Technology Platform : Company has built technology-enabled solutions and employs a hybrid model of AI-enabled analytics and human assessment to streamline the value chain, aid customers, partners and employees and drive efficiency.
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Product Concentration: Go digit relies on motor vehicle insurance products for a substantial amount of their revenues and profitability. Any constraint on sale of these products due to future changes in regulation or customer preference, or any inability to maintain a profitable portfolio mix of products, could have a material adverse effect on business.
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COVID Impact: The size and breadth of the COVID pandemic, all the direct and indirect consequences of COVID-19 are not yet known and may not emerge for some time. Overall, the pandemic resulted in a reduction in the overall growth rate in the Indian non-life insurance industry.
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Regulatory Actions: They are exposed to risks, including regulatory actions, arising due to improper business practices during the sales process, such as inadequate due diligence, including customer verification, and non-adherence to anti-money laundering guidelines.
FAQs
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