Built by people who spent two decades inside India's payments engine.
Riscover wasn't founded to enter the insurance industry. It was founded because two people who spent their careers building payment ecosystems kept seeing the same gap — and eventually decided to close it themselves.
The insight wasn't theoretical. It came from years of sitting inside banks, card programmes, lending platforms, and merchant networks — watching customers absorb losses that protection products could have covered, and watching platforms leave revenue unclaimed because the distribution architecture was never designed to carry insurance at the transaction moment.
Riscover is the company they built to fix that — not as an insurer, not as a broker, but as the embedded insurance architect that designs what should exist, places it at the right moment, and optimises it continuously.
The origin of Riscover
The pattern appeared everywhere. An OTA that sold millions of travel bookings but offered insurance as an afterthought, buried in a confirmation email nobody read. An NBFC that disbursed thousands of personal loans a month without ever offering credit shield at the disbursement moment — the only moment the customer was paying attention. A logistics platform absorbing 3–5% of revenue in cargo losses because transit cover was a separate conversation nobody got around to having.
The products existed. The insurers were willing. The customers, had anyone asked them at the right moment, would have said yes. The transaction moment — when risk was highest and attention was most engaged — was simply going to waste. Not from incompetence, but because the infrastructure to carry insurance natively inside a transaction flow didn't exist yet.
Riscover was built to be that infrastructure — and more importantly, to bring the design thinking that makes embedded insurance work in practice rather than just in theory. Which product. Which trigger. Which customer segment. At what price. With which insurer. Optimised continuously. That is the work Riscover does.
Combined Experience
The founders
Two practitioners. Fifty years of combined experience. One shared conviction — that insurance should be a native feature of every transaction, not an afterthought sold separately.
Jasmeet Arora
Jasmeet's career has been a long study in the mechanics of financial distribution — how products find customers, and what makes the difference between a programme that scales and one that stalls. At American Express he led corporate card acquisition across India, which meant understanding not just the product but the organisational dynamics that drive adoption inside large enterprises. At PayU, he built the enterprise sales engine for one of India's most competitive payment gateways at the exact moment the market was inflecting. At Pine Labs, he ran the lending against receivables business — one of the more structurally complex products in the merchant payments ecosystem, sitting at the intersection of credit, loyalty, and POS infrastructure.
The Paytm chapter shaped a lot of what Riscover has become. Running the EMI business across online and offline platforms gave Jasmeet a close look at what happens when a financial product is genuinely embedded in a consumer journey — the attach rates, the conversion dynamics, the operational complexity that looks simple from the outside. He carried that into Indifi as Chief Growth Officer, and later into Credgenics, where the lens shifted to what goes wrong when the original lending product didn't have adequate protection built in.
What Jasmeet brings to Riscover is a specific kind of commercial intelligence — the ability to walk into a platform, understand its revenue architecture and customer journey within a short conversation, and identify exactly where embedded insurance creates value. He holds a Post Graduate Diploma from UCLA Anderson. He is the person who builds the relationship, designs the commercial structure, and stays accountable for whether the partnership delivers.
Gagan Kochar
Gagan spent 25 years building B2B payments infrastructure — first at Visa, then across two decades at American Express, and eventually as a co-founder of PayEnable, a fintech consulting and platform business. The thread running through all of it is the same: how do you design the infrastructure layer that carries a financial product into a commercial ecosystem at scale? At Visa he deepened commercial card penetration with member banks and engaged Government bodies on payment infrastructure. At American Express he ran the B2B Payments business for India, which meant designing risk and pricing structures for high-volume recurring payment flows — and building the ecosystem around them. As Head of Alliances for Global Commercial Card, he understood what it takes to make a product work across very different markets, partners, and regulatory contexts.
PayEnable was where that infrastructure instinct became a product. Gagan and his co-founders built use cases for embedding finance directly into client customer journeys — an experience that maps almost exactly onto what Riscover does with insurance. The lesson from that work was that the technology is rarely the hard part. The hard part is understanding the partner's commercial model, designing the product to fit the journey without friction, and making the numbers work for everyone in the chain.
At Riscover, Gagan is the architect. He thinks in systems — how the insurer, the platform, the regulator, and the customer all fit together into something that works sustainably. He brings a structural rigour to product design that is rare in a market still figuring out what embedded insurance even means. His background in B2B relationships, government-level payment infrastructure, and cross-geography platform development makes him particularly effective in conversations where the partner's questions run deeper than a pitch deck.
Arcstone Growth LLP
Riscover is a growth venture of Arcstone — a specialised venture builder focused on differentiated businesses at the intersection of financial services, technology, and distribution. Arcstone's portfolio companies share a commitment to solving structural inefficiencies in large, underleveraged markets. In embedded insurance, the inefficiency is clear: protection products exist, customers need them, and the distribution moment is available — but nobody has designed the architecture to connect all three. That is what Riscover was built to do.
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