Plum Insurance revenue surges 2.5X in FY24, cuts losses by half

Plum, an insurtech startup, reported a dramatic surge in revenue, with a 25x increase in FY24. This growth was accompanied by a significant reduction in losses, which the company managed to cut by half. Plum’s focus on making insurance more accessible and affordable for small and medium enterprises (SMEs) has helped it scale rapidly. The company’s business model centers around digitizing the insurance process and catering to the underserved SME sector. Plum’s profitability improvement is indicative of its ability to streamline operations and deliver value to its customers, making it one of the leading insurtech companies in India.