Roadzen Inc (NASDAQ: RDZN) is an insurance technology company that provides AI-powered software and distribution services for the automotive insurance market. Revenue comes from two streams: Insurance as a Service (IaaS) platform fees charged to insurers, car manufacturers, and fleet operators, and commission and distribution income earned through its Brokerage Solutions business. Roadzen operates a capital-light model, meaning it does not underwrite or carry insurance risk on its balance sheet. Its U.K. subsidiary operates as a Managing General Agent (MGA) regulated by the FCA, generating revenue through commissions and administrative fees tied to Gross Written Premium on specialty contracts typically structured over five-year terms. Its U.S. subsidiary, based in Burlingame, California, runs a licensed auto club with a network of over 75,000 service providers as of the FY2025 10-K filing date, offering commercial roadside assistance and claims management. Partners named in the FY2025 10-K include AXA, SCOR, Arch, Société Générale, Jaguar Land Rover, Audi, Mercedes, and Volvo. As of March 31, 2025, Roadzen employed 72 engineers, computer vision researchers, and data scientists.

Revenue model

Two principal revenue streams: (1) IaaS platform fees from insurers, OEMs, and fleet operators for AI-based auto insurance software; (2) commission and distribution income from brokerage solutions, including MGA commissions and administrative fees tied to Gross Written Premium. The company does not underwrite insurance risk. MGA specialty contracts are typically structured over five-year terms.

Products and services

IaaS platform covering the auto insurance value chain; Managing General Agent (MGA) services including auto insurance, extended warranties, and claims management in the U.K.; commercial roadside assistance (RSA) and first notice of loss (FNOL) services in the U.S.; over 150 AI models spanning computer vision and natural language processing for car inspection, driver scoring, vehicle and damage detection, claims invoice automation, and driver distraction; proprietary Canvas AI platform for model training and deployment.

Customers and end markets

B2B2C model targeting insurers, reinsurers, automotive OEMs and carmakers, automotive dealers, fleet operators, government fleets, and enterprises. Named partners include AXA, SCOR, Arch, Société Générale, Jaguar Land Rover, Audi, Mercedes, and Volvo (per FY2025 10-K). Core end markets are auto insurance distribution, claims management, extended warranties, and roadside assistance.

Value-chain role

Technology platform provider and distribution intermediary sitting between insurers and end customers. Acts as delegated authority (MGA) on behalf of insurers in the U.K., managing policy sales and claims adjudication. Provides AI-based underwriting tools, telematics, and claims automation to insurers and OEMs rather than bearing underwriting risk itself.

Geographic exposure

Three core markets: United States (auto club and RSA operations headquartered in Burlingame, California), India (commission-based auto insurance distribution), and United Kingdom/European Union (MGA operations based in Coventry, U.K., regulated by the FCA). International markets outside these three represent a small portion of processed transactions as of the FY2025 10-K filing.

Source: SEC 10-K, filed 2025-06-26

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