Roadzen Acquires Major Stake in MGU, Eyes $200 Million in Premiums

Roadzen, Inc. has acquired a majority stake in a licensed commercial auto insurance broker, aiming for $200 million in premiums while leveraging advanced Artificial intelligence in its Underwriting processes.

• Roadzen, Inc. disclosed its acquisition of a majority controlling stake in a California-based managing general underwriter (MGU) on Wednesday, although financial terms remain undisclosed.
• The acquired MGU holds licenses in key states, including California, Texas, Illinois, and New Jersey, and possesses Lloyds of London Coverholder status, enhancing its credibility in vehicle insurance.
• This strategic move aims to generate approximately $200 million in premiums, allowing Roadzen to bolster its position in the competitive insurance market through innovative Underwriting practices.