PolicyBazaar is an online insurance comparison portal to help consumers make more informed decisions for their insurance needs

0

PB-logo

Country: India

Year: 2008

  • PolicyBazaar is a comparison portal to help consumers make better choices according to their insurance preferences and has partnered with 51+ insurance companies across India and aggregates them.
  • PolicyBazaar has major funding from date InfoEdge, Tiger Global Management, Inventus Capital Partners, Ribbit Capital, Premji Invest, Steadview Capital Management, and Temasek.
  • It has received a total of US $69.6 million funding, with a recent US $40 million Series D funding in April 2015.

Concept

  • PolicyBazaar features products from all major insurance companies in India, and helps consumers compare various insurance plans based on their preferences and then facilitates the online purchase of policies in life insurance and non-life insurance.
  • Insurance and financial solutions showcased on PolicyBazaar are grouped under two sections:
    • 1) Life insurance – term plan, whole life plans, endowment plans, money back plans, child plans, retirement plans.
    • 2) General Insurance – car insurance, health insurance, 2-wheeler insurance, travel insurance, home insurance, corporate insurance, critical illness, and personal accident.

Consumer Benefits

  • More informed decisions: PolicyBazaar narrows down on the insurance policy that best suits the consumer’s preferences, allowing them to make more informed decisions when buying insurance policies.
  • Life-time support: PolicyBazaar supports consumers from purchasing of insurance policies, filing for claims, to renewing of policies.
  • Decision support: PolicyBazaar has go-to assistance available 24-7 to explain hidden terms of policies and answer any enquiries customers may have, leading to better decisions made.

How to Use it