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.
What happened
Insuretech OneAssist is diversifying beyond smartphone insurance into used cars, refurbished phones, and home/lifestyle product warranties via Amazon
Key facts
- 3% YoY smartphone sales fall Q1 2026
- 52% used-car buyers financed in 2025
- refurbished phone sales grew 4.9% Jan-Sep 2025
- 7-8% ARR target next 4 quarters
- 14-15% ARR following year
- ₹850 crore FY26 revenue
- ARR nearing ₹1,000 crore
Why this matters
OneAssist's expansion into used-car financing cover and Amazon-partnered appliance protection signals a land-grab in fragmented warranty adjacencies, opening partnership or acquisition windows for retailers and OEMs seeking embedded protection plays before the 2027-28 IPO window.