PolicyBazaar.com is India’s largest insurtech player. It has backing from a host of investors including the likes of Soft Bank, InfoEdge (Naukri.com), Temasek, Tiger Global Management, True North, Premji Invest, besides investments from other PE funds and family offices. The portal started with a purpose to educate people on insurance products and has had a significant influence on how insurance is bought in India. It has helped in driving penetration of pure life insurance, health insurance, and such products which were barely bought earlier.
From receiving traffic of 180,000 visitors in 2008, PolicyBazaar.com has come a long way and today hosts over 125 million visitors yearly and records sale of over million transactions a month. Currently, PolicyBazaar.com accounts for nearly 25% of India’s life cover, and over 7% of India’s retail health business. It accounts for roughly half of all internet based insurance purchase in the country and is more than doubling annually.