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Policybazaar has today built India’s largest online platform for insurance and lending products leveraging the power of technology, data and innovation, according to Frost & Sullivan. The company provides convenient access to insurance, credit and other financial products and aims to create awareness amongst Indian households about the financial impact of death, disease and damage. Through their consumer-centric approach, they seek to enable online research-based purchases of insurance and lending products and increase transparency, which enables consumers to make informed choices.
Through a consumer centric approach, created strong brands in both Policybazaar and Paisabazaar which are recognised throughout India.
As per Frost & Sullivan, Policybazaar was India’s largest digital insurance marketplace with a 93.4% market share based on the number of policies sold in FY20.
Policybazaar and Paisabazaar platforms have large networks, providing consumers with the ability to browse financial services products offered by 51 Insurer Partners and 54 Lending Partners.
The company operates in India’s dynamic and competitive fintech industry, with Plicybazaar in online insurance products and service industry, while Paisabazaar operates in India’s online credit industry.
Future growth depends on the ability to continue to attract new consumers and to generate new purchases from existing consumers.
In Q2 FY2021, life insurance industry saw a 53% quarterly jump in new business premiums with eKYCs adoption and consumers push towards life insurance products to cover themselves and their families from the risk of loss of life in pandemic.
The non-life insurance industry also saw a quarterly increase of 47% in gross direct premiums in Q2 FY2021, driven majorly by increased awareness about health protection policies.
While health was an outlier in the non-life insurance space, motor insurance continued dismal performance in Q2 FY2021 due to poor auto sales and restrictions on road travel.
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Choose the IPO you want to apply from the list. Click on Apply.
Fill in the quantity of shares. To apply at maximum price, check the cut-off price box and amount is auto calculated. If you want to apply at some other price within the price band, then you can enter the price manually by clicking on “Add bid” option.
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