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Policybazaar, one of India's most trusted digital insurance aggregators, was co-founded by Alok Bansal, Avaneesh Nirjar, and Yash Dahiya. Established in 2008 and headquartered in Gurgaon, Haryana, the platform aims to simplify insurance decisions for consumers by offering easy comparisons, transparent information, and digital policy issuance. Policybazaar hosts over 100 million users, reflecting its deep penetration into India’s insurance market. Its platform covers life insurance, health insurance, vehicle insurance, and more—partnering with top insurers to empower consumers with informed choices. The platform leverages technology, including AI and data analytics, to streamline the user journey and enhance claim support services. Policybazaar’s IPO in 2021 marked a significant milestone, reflecting investor confidence in its scalable, tech-driven business model. Over the years, the company has attracted prominent investments from global VCs and strategic partners. With a mission to insure every Indian family, Policybazaar continues to innovate and scale through regional outreach and new product verticals. Its leadership team remains committed to bridging the insurance awareness gap, improving financial inclusion, and delivering customer-first solutions across India's diverse population.
| Company | Policybazaar |
|---|---|
| Website | policybazaar.com |
| Industry | Digital Insurance Aggregator |
| Founded | 2008 |
| Headquarters | Gurgaon, Haryana |
| Country | India |
| Revenue (FY24) | ₹2,558 Cr |
| Profit / Loss (FY24) | ₹(21) Cr |
| EBITDA Margin | -2.1% |
| Total Funding | ₹6,340 Cr |
| Date | Round | Amount | Investors |
|---|---|---|---|
| 2008 | Seed | ₹30 Cr (~$6.9M) | Info Edge |
| May 2011 | Series A | ₹60 Cr (~$12.9M) | Intel Capital, Info Edge |
| May 2013 | Series A (Follow-up) | $4–9M | Intel Capital, Info Edge, Inventus Capital |
| Apr 2013 | Series B | $5M | Inventus Capital, Info Edge, Intel Capital |
| May 2014 | Series C | $20M | Tiger Global |
| Apr 2015 | Series D | $40M | Premji Invest, Steadview Capital, ABG Capital |
| Oct 2017 | Series E | ₹500 Cr (~$77M) | Wellington, IDG, True North, Temasek |
| Jun 2018 | Series F | $236M | SoftBank Vision Fund, Info Edge, Temasek |
| Jul 2020 | Series F (Tranche 2) | $130M | SoftBank |
| 2021 | Pre-IPO | $75M | Falcon Edge, others |
| Nov 2021 | IPO | ₹5,625 Cr (~$700M) | Public Listing |
Policybazaar has shown strong revenue growth over the past four fiscal years, growing from ₹957 Cr in FY21 to ₹2,558 Cr in FY24. This significant upward trajectory reflects its expanding user base and increased digital insurance adoption across India. The company has managed to reduce its losses steadily—from ₹155 Cr in FY21 to just ₹21 Cr in FY24—indicating improved cost control and monetization. This performance underlines Policybazaar’s successful scaling and margin improvement in a competitive market.
Policybazaar’s operational efficiency has improved steadily over the years. The EBITDA margin has improved from -26.3% in FY21 to -2.1% in FY24, showing greater cost discipline and better monetization practices. Simultaneously, the expense ratio has decreased from 118% to 98%, indicating that the company has been able to control its costs while growing revenues. These trends reflect Policybazaar’s maturity as a digital platform and its shift towards sustainable operations. As margins approac...
Policybazaar has steadily increased its workforce to support its platform expansion and customer engagement needs. The employee base grew from approximately 9,300 in FY21 to 13,700 in FY24. This rise reflects investments in technology, customer support, operations, and innovation functions. As the company continues to scale its insurance distribution and embedded finance products, headcount growth also indicates a long-term commitment to talent. The relatively moderate growth in staff in recent...
As of FY24, Policybazaar is focusing on post-IPO stabilization and new product rollouts in embedded insurance. It continues to strengthen its partner network and expand offerings into critical illness and OPD care. The company’s digital-first approach continues to win customer trust, and new AI initiatives aim to personalize the insurance buying journey. These moves indicate a shift toward long-term sustainability and deeper consumer integration.
| Metric | Detail |
|---|---|
| Revenue Growth | Strong YoY increase (₹957 Cr to ₹2,558 Cr) |
| Profit Trend | Losses reduced from ₹155 Cr to ₹21 Cr |
| Operational Efficiency | EBITDA margin improved significantly |
| Funding | Post-IPO funding with Info Edge Ventures |
| Workforce | Consistent employee growth and retention |
Policybazaar has cemented its place as a dominant force in India's digital insurance aggregation space. With strong year-on-year revenue growth, reducing losses, and consistent operational optimization, the company is on a path toward long-term profitability. The strategic expansion of services, investments in AI, and post-IPO enhancements further strengthen its market leadership. With a strong brand and deep consumer trust, Policybazaar continues to innovate in the insurance ecosystem.
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