• B30 market expansion: Around 75.4% to 80% of platform premiums and 75% of POSP partners originate from B30 cities, where insurance premium growth is 50% to 60% higher than in top 30 markets. Management expects these under-penetrated markets to remain the primary growth engine aligned with the government's 2047 insurance coverage goals.
• Partner network scale: The company added nearly 32,000 digital partners in Q1 to reach approximately 7 lakh total partners, with active partners growing 33% year-on-year to around 90,000 to 92,000. Around 70% to 80% of joiners are first-time sellers who gradually increase productivity by progressing from simple motor policies to cross-selling health and life insurance.
• Service EBITDA trajectory: Service EBITDA expanded from -13% three years ago to +13% in Q1, driven by tech-enabled onboarding across 19,000 pin codes and fixed costs that remain in a narrow band. The company guided for 40% growth with adjusted EBITDA profitability for the current year alongside continuous service EBITDA margin expansion.
• Renewal revenue growth: Renewal revenues surged 66% year-on-year in Q1, significantly outpacing overall revenue growth of 40%. Management expects the rising renewal mix to continue driving service EBITDA margins higher by a few percentage points year-on-year.