OneAssist pivots beyond phone insurance to used cars, refurb devices as smartphone demand stalls
Insuretech OneAssist is broadening into used-car financing cover, refurbished phone warranties, and Amazon-led home appliance protection as new smartphone sales slipped 3% YoY in Q1 FY26. Targets 7-8% ARR growth next four quarters, 14-15% thereafter, on FY26 revenue of ~₹850 crore with ARR nearing ₹1,000 crore. IPO tentatively eyed for 2027-28.
Insuretech OneAssist is diversifying beyond smartphone insurance into used cars, refurbished phones, and home/lifestyle product warranties via Amazon partnerships, as new phone sales slow. FY26 revenue ~₹850 crore; tentative 2027-28 IPO timeline.