PolicyBazaar Case Study Founders, Funding and Business Model

PolicyBazaar Case Study –

Today with this article we will proceed with our article arrangement in which we talk about the case study and business model of various new companies and huge organizations. So today I am with you with another new business and we will discuss about PolicyBazaar Case Study Founders, Funding and Business Model.

Policybazaar is capturing a very big market in India actually it provides you to compare insurance plans of the different insurance company. With the support of policybazaar, you don’t have to visit different companies and brokers.

Policybazaar has about 50% market share in the online insurance space. PolicyBazaar has the largest marketplace for insurances, they are providing right product to the right customer at the right stage of his life.

The online firm offers insurance across categories like life, health, motor, travel, general and corporate insurance.

Policybazaar.com has always worked for customer satisfaction. this company is customer need centric company. Which leds them to this level sucess tremendous success.

About Policybazaar:-

Policybazaar is the standout amongst the best brand in itself in light of the fact that in Policybazaar there is part off companies item in the Policybazaar you can take any company product by contrasting yourself and great speculation you can purchase great product.

There are each protection individual can take in the Policybazaar.Com.Policybazaar is the a standout amongst the best site.

Policybazaar was formed in 2008 and headquartered at Gurgaon Haryana It is India’s online insurance aggregator. The company began operations in 2008. It was started as a key force in providing online financial services platform in India.

Over the since launch, the company has marked a staggering growth. The company is completely dominating in terms of consumer traffic and the number of people using the platform to buy insurance products.

It has become the “destination site” for all insurance related queries amongst Indian consumers. This is completely dominating its competition with bankbazaar, coverfox, easypolicy and many more.

In 2017, the stats show that number of average transactions grew to 250,000 a month from 120,000 a month previously. It alone managed nearly 100 million customer queries over the phone in 2017.

Policybazaar Founders:-

It was founded by two men that are
Alok Bansal and Yashish Dahiya 

Alok Bansal:-

Alok Bansal is Co-founder and CFO at Policybazaar.com Financial department is lead by Alok. Before becoming a founding member of PolicyBazaar, Alok served as the Director, Finance for First Europa.

He in past also worked as managerial positions with Mahindra & Mahindra, iGate Global Solutions, and General Electric.

Now when we talk about its second founding member

Yashish Dahiya:-

Yashish Dahiya holds a Bachelor’s Degree in Engineering from IIT Delhi. He also holds Post Graduate Diploma in Management from IIM Ahmedabad, and then he take MBA from INSEAD.

When he started his career as a Business Unit Head at Illinois Tool Works and later he moved on to Bain & Co. to work as a Management Consultant. Before starting his journey as a founding member of PolicyBazaar.com, Yashish Dahiya worked with First Europa, a Global Online Insurance Broker, as their CEO.

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PolicyBazaar Business Model:-

After reading much about Policybazaar case study and policybazaar founders lets talk about Policybazaar Business model.

When we talk about insurance aggregator Policybazaar is leading brand name in this sector. It is a platform which helps customers to research and compare the features of different insurance policies within a category.

In this today world, many want a platform which helps customers to find a good insurance company. Hence they enable them to make an informed choice.

The company works like they tied up with insurance brokers which help them gain information such as price, benefit, insurance cover etc directly from the insurers for the customer to compare.

On the basis information provided by the platform, the customer then chooses the best option. PolicyBazaar is so much success because does not charge from its customer anything for their service.

Now you should raise a question that than how they generate revenue? So their main revenue comes from fixed marketing and advertisement fee from the insurance companies.

PolicyBazaar Funding:-

When we talk about funding for a startup then Policybazaar is also a name in that Policybazaar has the top investors from India and abroad.

The company has successfully raised the funding of around 70 million Dollars by now, In five round of funding participated by 9 investors.

After its foundation in March 2013, the company hosted its first round of funding in which raised 4.6 million Dollars from Intel Capital and Inventus Capital Partners.

Then after one month gap, they go for the second round of funding and this time was 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 Policybazaar 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 PremjiInvest, Tiger Global Management, Ribbit Capital, Steadview Capital, ABG Capital.

In 2018 they got investment from softbank also. When they go for series F round funding they raised abou $200 million.

Wrap Up-

In our article about PolicyBazaar Case Study Founders, Funding and Business Model we covered almost all thing in detail so you are now knowledge rich person about Policybazaar.

In the last, we just get knowledge about India’s biggest insurance aggregator company which is holding more than 50% shares in his industry.

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When you think to buy insurance for you family you can go with Policybazaar it is a trusted site. So at last how you like my article let me know down in comment section feel free to share your views on article.

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