Policy bazaar


About
Back in 2008, insurance customers in India were facing a tough time. There was lack of information on products, transparency was missing, mis-selling was rampant, there was a high lapse rate of insurance policies and consumers felt a general apathy towards the insurance industry. Insurance companies made profits from policy surrender charges and the entire industry was mired in murkiness.
That is when a small bunch of people, with no insurance experience, started re-imagining what the insurance space could be. They imagined a place where consumers could find completely transparent insurance information, and an option to research and compare insurance products so they could buy what they really wanted to. A place where all communications would be recorded so that there would be a clear audit trail of who said what in a product as complex as insurance. A place that provided a common service layer for all consumer services and claims.
With this grand ambition as their life goal, this motley crew of people started their journey into what is now Policybazaar.com.

Startup Story
Policybazaar.com is an aggregator website, which helps customers to research and compare the features of different insurance policies within a category, hence enabling them to make an informed choice.
The company has tied up with insurance brokers which help them procure information such as price, benefit, insurance cover etc directly from the insurers for the customer to compare. Basis the information provided by the platform, the customer then chooses the best option. PolicyBazaar does not charge from its customer anything for their service. Our revenue comes from fixed marketing and advertisement fee from the insurance companies.PolicyBazaar.com is an aggregator website, which helps customers research and compare the features of different insurance policies within a category, hence enabling them to make an informed choice. The company has tied up with insurance brokers which help them procure information such as price, benefit, insurance cover etc directly from the insurers for the customer to compare. Based on the information provided, the customer then chooses the best option. It doesn't charge customers anything for this service.

Video
Revenue
In March 2013 company hosted its first round of funding and raised 4.6 million Dollars from Intel Capital and Inventus Capital Partners. Then after one month, the second round of funding happened the event was led by Inventus Capital Partners. The company has raised 5 million dollars in this round from Inventus Capital Partners, Info Edge, and Intel Capital.
In May 2014 the company raised 20 million Dollars in the third round of funding led by Tiger Global Management. Then in April 2015, In Series D fourth-round lead by PremjiInvest PolicyBazaar raised 40 million dollars of funding from Premji Invest, Tiger Global Management, Ribbit Capital, Steadview Capital, ABG Capital.
Ceo

Yashish Dahiya:

Yashish Dahiya holds a Bachelor’s Degree in Engineering from IIT Delhi, a Post Graduate Diploma in Management from IIM Ahmedabad, and an MBA from INSEAD. He started his career as a Business Unit Head at Illinois Tool Works and later moved on to Bain & Co. to work as a Management Consultant. Before starting his entrepreneurial journey with PolicyBazaar.com, Yashish Dahiya worked with First Europa, a Global Online Insurance Broker, as their CEO.
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