Leading retail tech player Kiko Live today announced the launch of a curated shop insurance product designed specifically for kirana stores and small local retailers across India. Introduced in partnership with multiple insurance companies, the initiative aims to make insurance simple, affordable, and relevant for a segment that remains largely unprotected despite being central to India’s retail economy.
India is home to an estimated 12–15 million small and neighbourhood retail stores, which together account for nearly 85–90% of the country’s grocery and daily-needs retail. Operating within an overall retail market valued at close to USD 1 trillion annually, these small retailers form the backbone of India’s consumption economy. Despite their scale and economic importance, insurance penetration among these businesses remains extremely low, leaving millions of livelihoods exposed to everyday risks.
Less than 3% of India’s small retail shops currently have any form of insurance. The gap is driven not by cost alone, but by complex policies, unclear exclusions, and a lack of understanding of what is actually covered. Traditional shop insurance products often fail to reflect real shop-level risks, resulting in low trust and poor adoption.
Alok Chawla, Co-founder of Kiko Live, said, “Most local shop owners assume insurance is expensive or don’t know how to access it. In reality, basic coverage costs far less than expected. By working closely with kirana stores, we saw how exposed they are to everyday risks, which led us to simplify insurance and make it genuinely accessible.”
Kiko Live is currently insuring 20 to 30 shops every day across India, reflecting strong demand for simplified and relevant insurance solutions. The company expects this number to scale significantly as its seller base expands.
Kiko Live’s curated shop insurance focuses on the most common and financially damaging risks faced by small retailers. The policy covers fire, theft, floods, rains, natural calamities, and material or property damage. All essential protections are bundled into a single, easy-to-understand policy, removing ambiguity and enabling shop owners to make informed decisions.
The insurance is priced to ensure mass adoption, with coverage starting as low as Rs.200 per year. In addition, Kiko Live offers free insurance coverage worth Rs.5 lakhs to sellers who sign up for its online store.
This insurance, which typically costs between Rs.2,700 and Rs.3,400, is included at no extra charge with Kiko Live’s annual online store subscription priced at Rs.3,000. Sellers can also enhance their coverage by paying an incremental premium based on factors such as store location, inventory value, and category of goods.
Kiko Live currently has over 300 insured sellers and is onboarding more than 200 new sellers every month, with each eligible seller receiving this base insurance.
For small retailers and gig workers operating with limited financial buffers, a single incident such as a fire, flood, or theft can disrupt operations or shut down a business entirely. Accessible insurance provides a vital safety net, enabling faster recovery and long-term business continuity.
By combining digital commerce enablement with affordable risk protection, Kiko Live aims to improve insurance penetration and strengthen financial resilience among India’s small retailers. The company also plans to extend insurance access to sellers who are not currently using its online store, addressing a large and underserved market.
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