Policybazaar for Business (PBFB)*, only one 12 months after its launch, declares its achievements in reshaping the panorama of enterprise insurance coverage in India. In the previous 12 months, PBFB has demonstrated an distinctive progress trajectory, with a staggering 40% surge in general income from its suite of tailor-made insurance coverage merchandise. PBFB’s success is additional exemplified by its partnerships with over 40 main insurance coverage firms, making certain entry to a complete vary of insurance coverage options meticulously designed to safeguard companies’ pursuits.
The model has a quickly increasing consumer base exceeding 25,000, together with trade giants akin to Axis, Delhivery, Quess Corp, Info Edge, Cars24, Saxo Group, Manipal Cigna, Spinny, IGT, Mahindra DIE, Celebi, and JM Baxi. These partnerships mirror PBFB’s capacity to cater to companies of all sizes, from startups to established companies. Notably, PBFB has witnessed important transaction progress in specialised areas akin to Marine (44%), Liability (34%), Property (59%), and Engineering (75%).
In the realm of Group Health Insurance (GHI), PBFB operates with a pointy concentrate on effectivity and inclusivity. Plans for startups supply as much as 65% value financial savings and versatile protection, accommodating non-traditional household constructions like live-in companions and siblings.
Sarbvir Singh, Chairman and CEO, PB Fintech, mentioned, “Just one year back, we had set out on a journey to ensure that every Indian business, regardless of its size, gets comprehensive insurance coverage. The idea was to help our country’s small businesses to grow fearlessly. The remarkable growth and partnerships achieved in this short span reaffirm our commitment to innovation and excellence.”
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Sajja Praveen Chowdary, Head, Policybazaar for Business
Sajja Praveen Chowdary, Head of Policybazaar for Business, added, “Even beyond the growth metrics, PBFB maintains commendable renewal persistence rates across various lines of business, underscoring its commitment to long-term partnerships and client satisfaction. We look forward to many more milestones.”
PBFB’s strategic selections are guided by an esteemed advisory board comprising trade luminaries akin to Shri Ajit Kumar, Shri Dinesh Waghela, Shri S Nagaraj, and Shri A V Rao, whose collective experience shapes the platform’s trajectory. The affect of PBFB’s providers transcends geographical boundaries, with prime cities throughout India together with Mumbai, Gurgaon, Bengaluru, Delhi, Noida, Chennai, Pune, and Hyderabad rising as key hubs for its numerous traces of enterprise.
As Policybazaar for Business celebrates its inaugural 12 months, it reaffirms its dedication to revolutionizing the insurance coverage panorama for companies, pushed by innovation, integrity, and unparalleled customer support.
*”Policybazaar for Business” is a model beneath Policybazaar Insurance Brokers Private Limited.
About Policybazaar for Business
Policybazaar is the flagship platform of PB Fintech Ltd. & is one in every of India’s largest on-line insurance coverage platforms. PB Fintech launched Policybazaar in 2008 to answer Consumers’ want for extra consciousness, selection, and transparency and create a consumer-pull-based, provider-neutral mannequin for insurance coverage distribution. After changing into a family identify and a default on-line vacation spot in retail insurance coverage, Policybazaar launched company insurance coverage merchandise by its insurance coverage companions in 2021. The model’s imaginative and prescient is to allow corporates, startups and SMEs throughout the nation, by enterprise insurance coverage merchandise, thereby, making them extra resilient within the face of adversities and unexpected dangers.
Today, Policybazaar has serviced greater than 25,000 corporates and is relentless in its endeavour to empower corporates by correct threat evaluation and mapping the correct options. Some of the large names from the trade who’ve positioned their belief in Policybazaar embrace Axis Bank, Byju’s, Cars24, Colliers, Delhivery, FICCI, NSDL, IRIS Software, Quess Corp, Yatra and lots of extra.
