Key Facts
case study
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Under this fintech, Policybazaar and Paisabazaar are the two most recognized brands in the market.​
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PB fintech is the leading online insurance and credit comparison platform for customers.
GROWTH
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Showing steady growth, Policybazaar grew its operating revenue by 66.3% to nearly Rs 516 Cr in FY20 from Rs 310.3 Cr generated in FY19.
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It holds around 25% of the insurance market alone and 7% of the health insurance business.
INVESTMENTS
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It has raised an amount of $780 million from funding in 14 rounds.
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The company raised around $13.4 million in the latest round of funding from its parent, PB fintech.
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Alpha Wave Global and White Oak Global Advisors are the most recent investors in policybazaar.
TECHNOLOGIES
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With the help of advanced technology , they have developed an AI based chatbot- PBee to look into the general queries of the public and ensure their problems are fully resolved.
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Having a huge customer base also requires efforts to satisfy their needs. In order to achieve this and be able to reach out to maximum number of people they have adopted text-to-speech solution called Amazon Polly which shifts lengthy phone calls to pre-defined responses thus reducing the workload of the employees
MARKETING STRATEGIES
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Advertisement has been the most intriguing way to promote their branding among the general public. They are specifically targeting the channels according to their genre type thus captivating more audience.
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The majority of its revenue, around 85% comes from aggressive advertising, and the rest only 15% from policy sales.
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For a few years, PB has been expanding its partnerships with banks like Axis Bank to provide more digital capabilities, and design programs with the use of Big Data, credit history, etc.
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