Fintech platform jUMPP has expanded its financial services portfolio after securing approval from the Insurance Regulatory and Development Authority of India (IRDAI) to distribute insurance products.
The development marks the company’s entry into the insurance segment and broadens its range of digital financial solutions available through a single platform.
The regulatory approval enables jUMPP to distribute insurance products digitally through its AI-powered application.
Founded in 2025, the fintech company currently offers services across investments, savings, payments, and borrowing.
The addition of insurance is part of the company’s strategy to create a comprehensive financial ecosystem that combines wealth creation, financial protection, and credit solutions.
By integrating insurance into its existing platform, jUMPP aims to provide users with a wider suite of financial products through a unified digital experience.
As part of its expansion, the company is going to introduce insurance products covering health, life, motor, business and home segments through partnerships with insurance providers.
The platform also plans to establish a fully digital insurance journey, allowing customers to discover suitable products, purchase policies, and manage coverage directly within the application.
This approach is aimed at simplifying insurance access and reducing friction in the customer experience.
Speaking about the approval, Sarvjeet Singh Virk, Founder and Chief Executive Officer of jUMPP, described insurance as a “natural extension” of the company’s financial services offering.
He added that the platform intends to leverage artificial intelligence to support product recommendations and improve customer engagement.
jUMPP primarily targets users in India’s Tier 2 and Tier 3 cities, with a focus on enhancing financial literacy and supporting wealth creation with the help of digital tools.
The platform uses the account aggregator framework to consolidate linked financial accounts into a single interface, enabling users to view and manage financial information more efficiently.
The application also provides personalised financial guidance in vernacular languages based on spending behaviour and financial activity.
In addition, jUMPP has partnered with YES Bank for banking services and operates as a Third-Party Application Provider authorised by NPCI, facilitating UPI payments through YES Bank as its PSP bank.
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The IRDAI approval marks an important milestone in jUMPP’s expansion strategy. With insurance distribution now added to its platform, the company is moving towards a broader financial services model that combines payments, savings, investments, borrowing and protection products within a single digital ecosystem.
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Published on: May 21, 2026, 9:08 AM IST
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