Policybazaar Changing the way of Financing

Policybazaar is an Indian insurance aggregator and multinational financial technology company based in Gurgaon. The company was founded in June 2008 by Yashish Dahiya, Alok Bansal, and Avaneesh Nirjar. It offers a digital platform – website and app – that allows users to compare policies from leading insurers and other financial services.

At that time, the Indian insurance industry still lacked transparency and most policies were sold through agents. Policybazaar has started listing some policy details for customers to choose from. It started as a price comparison website and information portal for learning about insurance and insurance programs. As a result, the website has expanded into a marketplace for insurance policies. In 2015 Policybazaar released an app for its Android and iOS users.

Policybazaar.com has raised $366 million in seven rounds of funding since its inception in 2008.

In November 2021, Policybazaar’s parent company PB Fintech Ltd launched its initial public offering (IPO), raising 5,625 kroner ($700 million). PB Fintech Ltd shares began trading on the National Stock Exchange and the Bombay Stock Exchange on 15 November 2021. In February 2020, Sarbvir Singh was appointed CEO effective December 2019 and Yashish Dahiya was appointed Group CEO.

In June 2021, Policybazaar obtained an insurance brokerage license from his IRADA and announced plans to launch 100 offline POS across India. The company also gave up its web aggregator license.

PolicyBazaar and his PaisaBazaar of credit companies will explore the medical technology and services field. With this new venture, the company “will work with around 300 hospitals by the end of 2020. These services help the company create highly meaningful data about consumers’ health habits and create smart, customized health insurance products. ”

Yashish Dahiya says: This market is expected to grow to $200 billion by the fiscal year 2020. We partner with hospitals and place PolicyBazaar advisors to help consumers in their moment of truth. These are claims. ”