Policybazaar for Business (PBFB)*, only one 12 months after its launch, proclaims 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 total income from its suite of tailor-made insurance coverage merchandise. PBFBs success is additional exemplified by its partnerships with over 40 main insurance coverage corporations, guaranteeing 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 reminiscent of Axis, Delhivery, Quess Corp, Info Edge, Cars24, Saxo Group, Manipal Cigna, Spinny, IGT, Mahindra DIE, Celebi, and JM Baxi. These partnerships replicate PBFB’s potential to cater to companies of all sizes, from startups to established firms. Notably, PBFB has witnessed important transaction progress in specialised areas reminiscent of 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.”
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.”
PBFBs strategic selections are guided by an esteemed advisory board comprising trade luminaries reminiscent of Shri Ajit Kumar, Shri Dinesh Waghela, Shri S Nagaraj, and Shri A V Rao, whose collective experience shapes the platforms trajectory. The impression of PBFBs providers transcends geographical boundaries, with high 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 underneath Policybazaar Insurance Brokers Private Limited.
About Policybazaar for Business
Policybazaar is the flagship platform of PB Fintech Ltd. & is one among India’s largest on-line insurance coverage platforms. PB Fintech launched Policybazaar in 2008 to reply to 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 title and a default on-line vacation spot in retail insurance coverage, Policybazaar launched company insurance coverage merchandise via its insurance coverage companions in 2021. The model’s imaginative and prescient is to allow corporates, startups and SMEs throughout the nation, via 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 via correct danger evaluation and mapping the precise 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.
