TrueCover: Ashish Chandra on Simplifying the Insurance Ecosystem through Technology
Insurance is often seen as a necessary evil—complex, opaque, and difficult to manage. Statistics suggest that nearly 70% of policies are purchased without the customer fully understanding the coverage. Ashish Chandra, the Co-founder and CEO of TrueCover, is changing this narrative. With a robust background from IIT Delhi and 15 years of consulting experience at firms like PwC and Mott MacDonald, Ashish is building a digital platform that brings transparency and control back to the policyholder. TrueCover isn't just about selling insurance; it's about simplifying the entire lifecycle of a customer's protection.
Ashish's journey into the "Insurtech" space was driven by a realization of how broken the current system is. "Insurance is a $4 trillion industry globally, but the customer experience hasn't evolved at the same pace," Ashish explains. "People have multiple policies across different providers—health, life, motor—but they have no central way to view their portfolio or understand their total risk. TrueCover was born to provide that single source of truth."
The Complexity Problem
Insurance is one of the most regulated and complex industries. "The jargon and the fine print often hide the actual value of a policy," Ashish notes. "Our platform uses AI and digital tools to decode these documents and present them in a customized, easy-to-understand portfolio. We want to empower the customer to be informed, not just insured."
Building a Team: Passion Over Pedigree
Scaling a startup requires a specialized team, and for Ashish, hiring is the most critical function. "We are competing with giants like Google and Amazon for talent," he admits. "But we look for a different kind of 'spark.' Resumes tell you about skills, but we hire for attitude. We want people who are frustrated by the same problems we are and want to solve them. In a small team, everyone needs to have an entrepreneurial mindset."
He recalls the challenges of the early days, transitioning from a stable corporate job at Jaguar Land Rover to the uncertainty of 2018. "In a big company, you have a department for every problem. In a startup, you *are* the department. Whether it's doing the taxes with your CA or pitching to a client, you have to be ready to get your hands dirty every single day."
The Future of Insurance: Personalized and Digital
Ashish sees a massive shift toward personalized insurance products. "The one-size-fits-all model is dying," he asserts. "Future products will be built around the individual's data—their health metrics, driving habits, and financial goals. TrueCover is building the infrastructure to support this personalized future, making insurance as easy to manage as a bank account."
This "outside-in" approach, combined with natural language processing to read policy documents, allows TrueCover to provide validation for claims and better portfolio management for all stakeholders in the ecosystem.
Ashish's Advice for Founders
- Deep Dive into the Problem: Don't just build an app. Understand the requirements and the ecosystem deeply before you write a single line of code.
- Money is an Outcome: Don't chase funding for the sake of it. Focus on building a product that users love, and the money will follow.
- Hiring is Everything: One wrong person can derail a small team. Hire for passion and alignment with your mission.
- Be Ready to Pivot: The market will tell you what it wants. Listen carefully and be willing to adjust your course without losing your vision.
The Vision: A Global Insurtech Leader
Looking ahead, Ashish aims to scale TrueCover globally. Having already validated the concept in the Indian market, he is now focused on reaching users across different geographies. For Ashish, success is not just about the CCQ (Culture Coherence Quotient) of his own company, but about the impact he can make on the millions of people who currently feel lost in the insurance maze.
TrueCover at a Glance
- Sector: Insurtech (Portfolio Management & Transparency).
- Legacy: Founded in 2018 by an IIT Delhi and PwC veteran.
- Innovation: AI-powered tools for policy decoding and risk assessment.
About the Guest
Ashish Chandra is the Co-founder and CEO of TrueCover. A graduate of IIT Delhi with a degree in Civil Engineering, Ashish spent over 15 years in senior consulting and leadership roles at Price Waterhouse Coopers (PwC), Mott MacDonald, and Jaguar Land Rover. He is a recognized expert in building digital experiences for complex ecosystems. Ashish is a passionate advocate for consumer rights in the insurance space and a dedicated mentor to early-stage founders. He remains committed to using technology to restore trust and simplicity to the global insurance market.
TrueCover is a technology-driven insurance platform providing creative tools for both policyholders and industry stakeholders. By utilizing AI and advanced data analytics, TrueCover simplifies insurance portfolio management, improves digital experiences, and ensures that customers have a clear, transparent view of their coverage and claims.