Review of PolicyBazaar.com
Policybazaar.com is a multinational financial technology company based in Gurgaon, India. It was founded by Alok Bansal, Avaneesh Nirjar, and Yashish Dahiya in 2014. Among its founders, Bansal is the chief executive officer. Other members of the executive team include Yashish Dahiya and Avaneesh Nirjar.
This online insurance company has a friendly user interface and is available at all hours of the day or night. Its mobile app has interesting features such as hospital locator, claim assistance, and instant renewal of insurance policies. It is also available on iOS and Android platforms. It also has a dedicated team for customer service. In addition to these, PolicyBazaar has a good working environment. You can access your account and plan details from any device.
The company has been steadily growing in the past few years. Its parent company reported a 66% growth in revenue to $70 million in FY2020, and is targeting an IPO by August 2021. While the retail portion of the IPO was expected to run for three days, the company filed a draft Red Herring Prospectus with SEBI for raising Rs 6017.5 crores. It is still unclear when it will actually go live, but it is likely to raise more than 750 crores.
PolicyBazaar has a number of products that cater to various needs. Its ad campaign focuses on creating awareness among consumers about the importance of insurance for coping with unexpected losses. The site also has a platform where users can get real-time consultation from doctors through chat or call. The ad campaign is targeted at people looking for insurance. PB Fintech Ltd. is an online company that aims to create a positive social impact in the Indian insurance industry by providing convenient access to financial products.
It is not a small company. Its products are available in different categories and offer consumers the ability to compare the price of insurance policies. The company’s services range from comparison shopping to claim settlement. With this, it is likely to be the preferred option for millions of consumers across the country. Aside from a comprehensive comparison of insurance policies, PolicyBazaar also provides assistance with re-enrollment, cancellation of policies, and other insurance-related issues.
Besides its life insurance products, PolicyBazaar also provides investment plans. The company’s app is available for both non-resident Indians and Indian residents. It offers a wide variety of insurance products and services, and is IRDA-approved. Its website has a user-friendly interface that allows for easy comparisons between insurance policies. The site also features an investor database. Its customers can get all the information they need on the site with just one click.
Competitor of PolicyBazaar
A Major competitor of PolicyBazaar is Acko. The company is the leading online insurance aggregator in India and has over a million policies sold each month. Despite its aggressive pricing strategy, PolicyBazaar is still a small company but it is already a major competitor of Acko. Its IPO will raise more than $809 million. It is also expected to compete with Zomato in the South Asian market.
The online insurance marketplace offers a variety of insurance products. It has 50 insurer partners. As of March 2021, Policybazaar offers 340 different types of insurance products. It also allows its users to conduct pre-purchase research, make payments, and manage claims. In addition, users can get pre-purchase information and medical screening before purchasing a policy. And since Policybazaar is a digital platform, it makes it easy for consumers to manage their policies.
The website also has a dedicated Profile button that allows users to enter vehicle details. This will allow them to easily compare different insurance products. They can also browse shortlisted products and manage them online. Similarly, users can compare their insurance policies and view the benefits and disadvantages of each. Yashish Dahiya has created a revolutionary new insurance platform. The web site has become India’s largest platform for comparing and buying insurance.