PB Fintech has built India’s largest online platform for insurance and lending products leveraging the power of technology, data and innovation. It provides convenient access to insurance, credit and other financial products and aim to create awareness amongst Indian households about the financial impact of death, disease and damage. Through its consumer-centric approach, it seek to enable online research-based purchases of insurance and lending products and increase transparency, which enables consumers to make informed choices. It also facilitate its Insurer and Lending Partners in the financial services industry to innovate and design customised products for Consumers leveraging its extensive data insights and data analytics capabilities. The company launched Policybazaar, its flagship platform, in 2008 to respond to Consumers’ need for more awareness, choice and transparency and create a consumer-pull based, provider-neutral model for insurance distribution.

The company primarily generate revenues from the following sources: (i) for its Policybazaar business, from insurance commission that it receive from its Insurer Partners, and additional services that it provide to Insurer Partners such as telemarketing and other services relating to sales and post-sales services, account management, premium collection and various other services, (ii) for its Paisabazaar business, from the commission that it receive from its Lending Partners, credit advisory and related services that it provide to its Consumers or Lending Partners, and marketing services that it provide to financial services partners and other third parties, and (iii) for the Company, from providing online marketing, consulting and technology services to Insurer and Lending Partners.

The company’s Policybazaar platform is an online platform for Consumers and Insurer Partners to, respectively, buy and sell core insurance products. As of September 30, 2021, 48 Insurer Partners have offered over 390 term, health, motor, home and travel insurance products on its Policybazaar platform, representing a substantial portion of all licensed insurance companies in India. Policybazaar offers Consumers an information-rich, user-friendly, and tech-driven self-service platform for i) pre-purchase research, ii) purchase, including application, inspection, medical check-up and payment; and iii) post-purchase policy management, including claims facilitation, renewals, cancellations and refunds.

Business area of the company

The company is India's leading online platform for insurance and lending products. The company provides convenient access to insurance, credit, and other financial products and aims to create awareness in India about the financial impact of death, disease, and damage.

Awards and Accreditations:

Paisabazaar

• 2017: ‘Best Digital Platform for Credit Cards’ at the Economic Times cards and Payment Summit
• 2017: ‘Best Customer Experience Innovation in Fintech’ by Moneytech Awards.
• 2017: ‘Startup of the Year’ by Moneytech Awards.
• 2018: Economic Times’ Most Promising Brand.
• 2018: ‘Best Fintech Startup 2018’ at the Drivers of Digital Awards.
• 2019: ‘Most Innovative Lending Startup’ by India Fintech Forum.
• 2021: Outstanding Crisis Finance Innovation 2021 (Asia Pacific) Award by Global Finance Magazine.
• 2021: Payment and Fintech Award for Excellence in Consumer Lending at the India Digital Awards, organized by the Internet and Mobile Association of India.
• 2021: Digital Lending Award at the Fintech India Innovation Awards.
  

Policybazaar

• 2018: ‘Best Fintech Marketing Campaign’ award by the ‘India Fintech Forum’ at the India FinTech Awards (IFTA) 2018.
• 2018: ‘Ecomonic Times Best Brands - Insuretech’ award by Economic Times.
• 2019: Certification for ‘Great Place to Work’ received by Policybazaar.
• 2019: ‘Insurtech of the Year’ award at the 23rd Asia Insurance Industry Awards.
• 2020: ‘FE Best Banks’ award in the Fintech category by Financial Express.
• 2021: ‘Communications Team of the year’ award at the Kaleido Awards
• 2021: ‘Best Insurtech of the year’ award at the Business Leader of the Year awards presented by World Leadership Congress and Awards.
  

Milestone:

• 2008: Incorporation of the Company.
• 2008: Investment of $ 4 million by Info Edge in the Company.
• 2010: Commencement of health insurance related activities.
• 2012: Registration of one of the subsidiaries of the Company as an insurance web aggregator with the IRDAI.
• 2015: Registration of Paisabazaar as a investment adviser with SEB
• 2018: Built an in-house actuarial analytics team in respect of retail customer sales.
• 2018: Reached the $1 billion valuation mark with Series F investment.
• 2018: Commencement of operations in the United Arab Emirates by PFFL.
• 2021: Registration of Policybazaar as an insurance broker with IRDAI.