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§ Public · Gurgaon, Haryana, India
PolicyBazaar is a technology company.
PolicyBazaar has raised $635.2M across 9 funding rounds.
Key people at PolicyBazaar.
PolicyBazaar was founded in 2008 by Alok Bansal (Co-founder) and Yashish Dahiya (Founder).
PolicyBazaar has raised $635.2M in total across 9 funding rounds.
PolicyBazaar operates an online platform simplifying the comparison and purchase of insurance products. The company provides a digital marketplace offering various life, health, motor, and other insurance policies from multiple providers. This technology-driven approach brings transparency and accessibility to the complex insurance sector for consumers.
Yashish Dahiya, Alok Bansal, and Avaneesh Nirjar founded PolicyBazaar in 2008. The company's inception stemmed from an insight into the opaque nature of the traditional insurance market. Dahiya's personal experience with a mis-sold policy highlighted the need for an independent, consumer-focused platform offering clear information and an easier purchasing process.
The platform serves individuals and businesses seeking comprehensive insurance solutions. PolicyBazaar's vision is to transform the insurance buying journey by fostering transparency and empowering users. It enables consumers to navigate their choices confidently, contributing to their financial security through informed decisions.
PolicyBazaar has raised $635.2M across 9 funding rounds. Most recently, it raised $75.0M Other Equity in March 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Mar 17, 2021 | $75M Venture Round | Navroz D. Udwadia | — | Announced |
| Jul 15, 2020 | $47.4M Venture Round | Softbank | — | Announced |
| May 6, 2019 | $152.8M Series F | Softbank | — | Announced |
| Jun 25, 2018 | $200M Series F | SoftBank Vision Fund | Info Edge | Announced |
| Oct 1, 2017 | $77M Series E | — | Addition, True Ventures | Announced |
| Apr 1, 2015 | $40M Series D | — | Addition, True Ventures | Announced |
| May 1, 2014 | $20M Series C | — | Addition, True Ventures | Announced |
| Apr 8, 2013 | $5M Series B | Parag Dhol | Intel Capital | Announced |
| May 13, 2011 | $18M Venture Round | — | July Systems, PolicyBazaar, Sudhir Srivastava Robotic Surgery Centre, WSO2, Yatra.com | Announced |
Key people at PolicyBazaar.
PolicyBazaar is India's largest online insurance aggregator and a leading financial technology (fintech) company that operates a digital platform for comparing and purchasing insurance policies.[1][2][3] It serves middle-class families and individuals seeking protection against risks like death, disease, and disability through products such as health, term life, motor, and travel insurance, solving the problem of opaque, agent-driven insurance markets by offering transparent comparisons, education, and direct sales.[1][2][3][4] The platform has demonstrated strong growth momentum, with 86.9 million registered users, 18.3 million active users as of Q2 FY25, over 46.8 million policies sold, and a 93% market share in digital insurance; it processes nearly 25% of India's life insurance and over 7% of retail health cover.[3][5]
As the flagship subsidiary of PB Fintech Ltd., PolicyBazaar has expanded from price comparison to a full marketplace, including app-based services and operations in the UAE, while its parent company also runs credit aggregator Paisabazaar.[1][3]
PolicyBazaar was founded in June 2008 in Gurgaon, India, by Yashish Dahiya, Alok Bansal, and Avaneesh Nirjar, who identified a critical gap in the Indian insurance sector: lack of transparency, misleading agent sales, and overwhelming options for consumers.[1][2] Starting as a simple price-comparison website and information portal, it evolved into a full marketplace for insurance policies, launching mobile apps in 2015 to reach Android and iOS users.[1]
Key milestones include obtaining an IRDAI insurance broking license in June 2021, surrendering its web aggregator license, and planning 100 offline outlets; Sarbvir Singh became CEO in late 2019, with Dahiya as group CEO.[1] Early traction built on educating users via segments like “knowledge.policybazaar” and “ask.policybazaar,” transforming it into India's dominant player over 16 years.[2][4][5]
PolicyBazaar rides the fintech wave of digital insurance adoption in India, where rising middle-class demand for affordable protection meets low penetration (under 5% for health/life insurance) amid regulatory pushes for transparency.[1][2][3] Timing aligns with smartphone proliferation, UPI payments, and post-COVID health awareness, accelerating online shifts from traditional agents.[1][3]
Market forces like IRDAI reforms favoring brokers and growing retail health needs (7%+ market share) bolster it, while its scale influences the ecosystem by pressuring insurers for better products and educating millions, fostering a more competitive, consumer-centric industry.[1][2][3]
PolicyBazaar is poised for continued dominance through AI enhancements, international growth (e.g., UAE), and PB Fintech synergies like Paisabazaar integration, with recent ESOP grants and share allotments signaling investment in talent and expansion.[1][3] Trends like AI personalization, offline-digital hybrids, and rising insurance mandates will shape its path, potentially evolving it into a full-stack fintech powerhouse influencing policy standards across emerging markets.[2][3] This builds on its origin as a transparency disruptor, solidifying its role in democratizing financial security for India's masses.[1][5]
PolicyBazaar was founded in 2008 by Alok Bansal (Co-founder) and Yashish Dahiya (Founder).
PolicyBazaar has raised $635.2M in total across 9 funding rounds.
PolicyBazaar's investors include Navroz D. Udwadia, SoftBank, SoftBank Vision Fund, Info Edge, Addition, True Ventures, Parag Dhol, Intel Capital, July Systems, PolicyBazaar, Sudhir Srivastava Robotic Surgery Centre, WSO2.
