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Participants in the IPO will purchase American Depository Receipts, securities linked to a Cayman Islands holding company Waterdrop Inc.
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The cohort reflects four focus areas of climate change and decarbonisation; geopolitics; data and models; and claims support services.
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Binding insurers include Chubb and AIG, with reinsurance from Munich Re.
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The London company will use the funding to expand into new territories, develop new products and improve distribution.
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Paul Prendergast and Peter Bermingham founded the business in 2016 and will stand aside for managers at owner CPP Group.
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The report said that key themes would be embedded insurance and data and analytics.
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The initiative is designed to improve trading efficiency and reduce data double-entry.
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The panel will ‘guide’ the business and help speed up the digitisation of the insurance industry.
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Insurance penetration in India represented 3.76% of GDP in 2019.
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The new funding round values the InsurTech at $1.75bn.
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The InsurTech has also hired Amir Massoudi as global chief revenue officer.
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$600mn round values Stripe at $95bn making the company one of the world’s most valuable private companies.
