Angel One has agreed to form a digital life insurance joint venture (JV) with Singapore-based insurtech company LivWell. 

The proposed JV will receive a capital boost of Rs4bn, with Angel One contributing a 26% stake and LivWell holding the remaining 74%. 

The aim is to bridge the current gaps in life insurance coverage with “protection-led offerings” by utilising tech-driven automation.   

Angel One CEO Ambarish Kenghe said: “As India embraces digital financial services, insurance too must be accessible, transparent and seamlessly delivered through trusted platforms. This partnership also deepens our offerings across the financial lifecycle – bringing us closer to delivering a seamless, end-to-end experience across savings, investing and protection.  

“The products sourced from this JV will help strengthen our digital distribution framework for the protection segment, further fortifying our long-term association with our clients.” 

The leadership team for this new enterprise includes Wilf Blackburn, who has experience as the regional CEO of Prudential Asia, as the proposed chairman.  

The CEO role is expected to be filled by Nikhil Verma, the former deputy CEO of Aviva Vietnam. 

LivWell CEO Nikhil Verma added: “At LivWell, we have seen how protection products, when delivered with simplicity and purpose, can drive meaningful impact at scale.  

“With Angel One’s digital reach and market credibility, we see a strong alignment to build a next-generation digital insurer that is relevant to today’s customers, accessible and future-ready.” 

LivWell is backed by Olympus Capital, a private equity firm focused on Asia with investments totalling more than $2.6bn (£1.93bn).