In a country where insurance was once viewed as confusing paperwork and endless calls, Policybazaar brought a digital revolution. Founded in 2008 by Yashish Dahiya, Alok Bansal, and Avaneesh Nirjar, the Gurugram-based company became India’s go-to platform for comparing and buying insurance policies — from health to motor to life insurance.
By 2025, Policybazaar serves over 100 million users, holds a market share of 50% in India’s online insurance space, and reports $700 million in annual revenue.
Its mission? To make insurance simple, transparent, and accessible for every Indian household.
A Transparent Start in a Complex Market
When Policybazaar started, buying insurance in India was largely offline, opaque, and agent-driven. Consumers had limited information, leading to misinformed decisions. The founders identified this gap and built a comparison-led digital platform where users could evaluate multiple policies by coverage, premium, and claim ratio — all in one place.
The platform’s success stemmed from a simple idea: empower customers with knowledge before they buy.
Today, it lists over 40+ insurance providers, offering 500+ policy options and processing 1 million+ transactions monthly — a testament to how digital convenience meets financial literacy.
Innovation Meets Impact
Policybazaar has gone beyond being just a marketplace. Its AI-driven tools, chat-based claim assistance, and personalized policy recommendations have made insurance more user-friendly.
The company’s app allows seamless claim filing and renewals, while its 24×7 advisory team ensures no customer feels lost in technical jargon.
In 2021, Policybazaar went public, raising ₹5,625 crore in its IPO — one of India’s largest fintech listings — reflecting investor confidence in its model.
Bridging India’s Financial Awareness Gap
Insurance penetration in India remains low — just about 4.2% of GDP compared to the global average of 7%. Policybazaar’s awareness campaigns and digital tools are helping bridge this gap, especially in Tier 2 and Tier 3 cities.
By simplifying access through vernacular languages and mobile-first experiences, the platform has expanded financial inclusion, empowering first-time buyers and rural consumers alike.
The Road Ahead: Beyond Insurance
Policybazaar’s parent company, PB Fintech, now operates other financial services platforms like Paisabazaar (for loans and credit cards). The group’s vision extends toward becoming India’s most trusted digital financial ecosystem — spanning loans, credit, investment, and insurance.
With Alok Bansal and Yashish Dahiya leading innovation in data-driven underwriting and insurtech, Policybazaar continues to evolve with India’s fintech transformation.
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