Jupiter enters insurance with IRDAI nod and mobile-first broker licence

undefined

Jupiter enters insurance with IRDAI nod and mobile-first broker licence

With IRDAI nod, Jupiter adds term and health cover to its money-first super app play.

Jupiter

MUMBAI: From swipe to safeguard, Jupiter’s money app now offers peace of mind on tap. After cracking credit, prepaid, and savings, Jupiter Money is adding a whole new layer to its financial orbit protection. The fintech platform has received the Insurance Regulatory and Development Authority of India’s (IRDAI) approval to operate as a Direct Insurance Broker (Life & General), paving its way into the insurance segment with a decidedly digital twist.

This approval marks a pivotal milestone in Jupiter’s transformation into a full-stack financial wellness ecosystem. Over the past year, Jupiter secured an NBFC licence and a PPI licence, fuelling its foray into credit and prepaid services. Now, with insurance in its basket, Jupiter is going all in on the promise of a 360-degree money experience.

The insurance rollout will begin with curated offerings in term life and health partnering with top-tier insurers and later expand into smart, embedded options. Think: travel insurance triggered by credit card swipes, cyber fraud cover linked to digital transactions, or device protection tailored to e-commerce behaviour. All policies will be issued digitally and managed within the Jupiter app, ensuring zero paperwork and minimal jargon.

“Insurance is a critical but overlooked layer in the financial stack especially among younger users,” said Jupiter Money president Rohit Kumar Pandey. “Our goal is to make insurance invisible and intuitive, not an intimidating chore.”

Jupiter Money director of insurance & PPI Chinmay Jain added, “With the Broker licence in place, we’re embedding insurance into real life, not just into product tabs. This is about timing, awareness, and contextual value not just another menu item.”

Jupiter, which boasts over three million users, sees this move as more than just product expansion. It’s a shift toward making insurance a seamless, proactive part of users’ everyday money behaviour turning a typically reactive category into one driven by life’s natural rhythms.

As IRDAI nudges the industry towards higher digital penetration, Jupiter joins a growing band of fintechs rewriting the rules of insurance distribution mobile-first, moment-driven, and mindfully minimalist. And in Jupiter’s case, it’s not just about protection, it’s about simplifying the chaos of financial choices, one smart patch at a time.