This report holistically captures the snapshot of Indian InsurTech startup ecosystem, highlighting current and future trends. The report segregates startups and analyses trends across value chain, founder’s pedigree, investments and technology trends. We analyse and share insights on the IRDA sandbox with the LMI (Low-Middle Income) lens, while highlighting government schemes applicable for the LMI segment. We introduce an exhaustive list of stakeholder challenges with the aim to emphasise on the areas where the Insurance sector needs technology solutions. This report will be followed by Part-2, which will provide viable solutions to some major challenges in the form of potential Use Cases with proposed in-depth business and implementation plans.