Policybazaar ListedUnicorn

Digital platform (website and app) lets users compare premiums, coverage and features across life, health, motor and travel insurance from more than 40 insurance companies, and buy or renew online.

Policybazaar does not charge users directly; insurers pay it commission on policies sold through the platform.

Consumers comparing and buying life, health, motor, travel and other personal insurance policies online across 40+ insurer partners.

'Policybazaar for Business' serves group health, liability, marine, property and other commercial insurance needs, in partnership with 51 insurers and their wellness partners.

Served via 100+ physical retail stores and the PB Partners PoS-agent network, which reached 1.2 lakh certified partners across 1,200+ cities and 18,000+ pin codes as of its 3rd anniversary (July 2024).

Policybazaar.ae, the group's first international market (launched 2018), offers motor, travel, health and life insurance comparison to consumers in the UAE.

policybazaar.com plus iOS/Android apps are the primary digital channels for comparing and buying policies.

Significant TV and digital ad spend drives acquisition and brand awareness; advertising & promotion expense was ₹245.27 Cr in Q1 FY25, up 23.3% YoY from ₹198.85 Cr in Q1 FY24.

Physical stores launched in 2021 (starting with 15 outlets) and scaled to 100+ locations to support advisory and claims in tier-2/3 markets.

B2B2C point-of-sale-person (PoSP) channel; 1.2 lakh certified agent-partners across 1,200+ cities and 18,000+ pin codes as of July 2024.

Policybazaar Insurance Brokers operates under an IRDAI broker license; IRDAI granted in-principle approval in February 2024 to upgrade it to a Composite Insurance Broker license, extending into reinsurance.

Core activity is operating the digital comparison platform spanning life, health, motor and travel insurance across 40+ insurers.

ICICI Lombard formalized a strategic distribution partnership with Policybazaar in April 2024, covering motor, health, travel, home and business insurance across policybazaar.com, PB for Business and PB Partners.

SoftBank Vision Fund, Tencent, Info Edge, Tiger Global Management, True North and PremjiInvest are among the company's major shareholders and strategic backers.

Commission paid by insurers on newly sold policies is a revenue source for Policybazaar, varying by product margin.

Renewal commission revenue reached an annualized run-rate of ₹633 Cr in Q2 FY25, up 45% YoY from ₹436 Cr.

Sister brand Paisabazaar, PB Fintech's credit-product aggregator, earns referral/commission income from lending partners for loans and credit cards distributed to the user base.

A major, closely-watched cost line: ₹245.27 Cr in Q1 FY25, up 23.3% YoY from ₹198.85 Cr in Q1 FY24.