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Policybazaar

2024-02-14T15:13:38Z

Iabhishekpareek: /* Controversies */

{{Short description|Indian insurance aggregator}}
{{Cleanup-PR|1=article|date=March 2023}}
{{Use dmy dates|date=July 2019}}
{{Infobox company
| name = Policybazaar
| logo = Policybazaar Logo.gif
| logo_size =
| logo_alt =
| logo_caption =
| image =
| image_size =
| image_alt =
| image_caption =
| trade_name =
| type = [[Publicly held company|Public]]
| traded_as = {{Unbulleted list|{{NSE|POLICYBZR}}|{{BSE|543390}}}}
| ISIN = INE417T01026
| industry = {{ubl|[[Financial technology]]|[[Insurance]]}}
| founded = {{Start date and age|df=yes|2008|07}} in [[Gurgaon]]
| founders = {{ubl|Yashish Dahiya|Alok Bansal|Avaneesh Nirjar}}
| hq_location = Plot No. 119, Sector 44
| hq_location_city = [[Gurgaon]], [[Haryana]]
| hq_location_country = India<ref>{{cite web |title=Contact Us |url=https://www.policybazaar.com/contact-us/ |website=PolicyBazaar |access-date=26 October 2021 |archive-date=26 October 2021 |archive-url=https://web.archive.org/web/20211026193327/https://www.policybazaar.com/contact-us/ |url-status=live }}</ref>
| areas_served = {{ubl|India|[[UAE]]}}
| key_people =
| products = Insurance
| services = {{ubl|[[Data aggregator|Insurance aggregation]]|[[Insurance broker|Insurance broking]]}}
| revenue = {{increase}} {{INRconvert|2558|c}} (FY23)<ref name="fy23"/>
| operating_income = {{positive decrease}} {{INRConvert|-299|c}} (FY23)<ref name="fy23"/>
| net_income = {{positive decrease}} {{INRconvert|-488|c}} (FY23)<ref name="fy23">{{cite news |last1=Upadhyay |first1=Harsh |last2=Ashrafi |first2=Md Salman |title=PolicyBazaar's scale crosses Rs 2,500 Cr in FY23, losses shrink 41% |url=https://entrackr.com/2023/05/policybazaars-scale-crosses-rs-2500-cr-in-fy23-losses-shrink-41/ |access-date=3 June 2023 |work=Entrackr |date=22 May 2023 |archive-date=3 June 2023 |archive-url=https://web.archive.org/web/20230603185033/https://entrackr.com/2023/05/policybazaars-scale-crosses-rs-2500-cr-in-fy23-losses-shrink-41/ |url-status=live }}</ref>
| parent = PB Fintech Ltd
| divisions =
| subsid =
| website = {{URL|https://www.policybazaar.com/}}
}}
'''Policybazaar''' is an Indian [[insurance]] [[Data aggregation|aggregator]] and multinational financial technology company based in [[Gurgaon]]. The company was founded in June 2008 by Yashish Dahiya,<ref>{{Cite news|url=https://economictimes.indiatimes.com/magazines/panache/policybazaar-co-founders-success-mantra-how-running-swimming-help-yashish-dahiya-stay-unbiased-at-work/articleshow/65222101.cms|title=Yashish Dahiya's success mantra: Running, swimming help him stay unbiased at work|last=Menon|first=Rashmi|date=2018-08-01|work=The Economic Times|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022111249/https://economictimes.indiatimes.com/magazines/panache/policybazaar-co-founders-success-mantra-how-running-swimming-help-yashish-dahiya-stay-unbiased-at-work/articleshow/65222101.cms|url-status=live}}</ref> Alok Bansal<ref>{{Cite web|title=Alok Bansal, CFO/Co-Founder, Policybazaar Insurance Web Aggregator Pvt Ltd|url=https://www.bloomberg.com/profile/person/20472655|website=www.bloomberg.com|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022100253/https://www.bloomberg.com/profile/person/20472655|url-status=live}}</ref> and Avaneesh Nirjar.<ref>{{Cite web|url=https://inc42.com/buzz/insurance-company-policybazaar-explore-healthcare-tech-services|title=Online Insurance Company PolicyBazaar Gears Up To Explore Healthcare Tech And Services Market|date=2018-03-12|website=Inc42 Media|language=en-US|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022110932/https://inc42.com/buzz/insurance-company-policybazaar-explore-healthcare-tech-services/|url-status=live}}</ref> It provides a digital platform - website and app - where users can compare [[Insurance policy|insurance policies]] and other financial services from major insurance companies. The company is India's largest insurance aggregator,<ref>{{Cite web|url=http://www.forbesindia.com/article/real-issue/irda-could-stifle-online-insurance-aggregators/36081/1|title=IRDA Could Stifle Online Insurance Aggregators|website=Forbes India|language=en|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022100254/http://www.forbesindia.com/article/real-issue/irda-could-stifle-online-insurance-aggregators/36081/1|url-status=live}}</ref> and has expanded its operations to the [[United Arab Emirates]].<ref>{{Cite news|url=https://www.business-standard.com/article/news-ani/policybazaar-group-forays-into-uae-insurance-and-lending-market-118092400379_1.html|title=Policybazaar Group forays into UAE insurance and lending market|last=ANI|date=2018-09-24|work=Business Standard India|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022095847/https://www.business-standard.com/article/news-ani/policybazaar-group-forays-into-uae-insurance-and-lending-market-118092400379_1.html|url-status=live}}</ref><ref name="Quartz">{{Cite news |url=https://qz.com/1314616/policybazaar-joins-indias-unicorn-club-with-over-200-million-from-softbank-infoedge/ |title=India's newest unicorn is disrupting a 200-year-old industry |last=U N |first=Sushma |date=27 June 2018 |work=Quartz |access-date=18 July 2018 |archive-date=18 July 2018 |archive-url=https://web.archive.org/web/20180718205620/https://qz.com/1314616/policybazaar-joins-indias-unicorn-club-with-over-200-million-from-softbank-infoedge/ |url-status=live }}</ref><ref name="Forbes">{{Cite news |url=http://www.forbesindia.com/article/hidden-gems-2017/policybazaar-the-best-policy/47891/1 |title=Policybazaar: The best policy |last=Chatterjee |first=Paramita |date=18 August 2017 |work=Forbes India |access-date=18 July 2018 |archive-date=18 July 2018 |archive-url=https://web.archive.org/web/20180718124450/http://www.forbesindia.com/article/hidden-gems-2017/policybazaar-the-best-policy/47891/1 |url-status=live }}</ref>

Policybazaar is the flagship subsidiary of '''PB Fintech Ltd''' which also owns the [[credit]] product aggregator Paisabazaar.<ref>{{cite news |title=Policybazaar files DRHP with Sebi for Rs 6,000-crore IPO |url=https://economictimes.indiatimes.com/tech/startups/policybazaar-files-drhp-with-sebi-for-rs-6000-crore-ipo/articleshow/84966425.cms |website=The Economic Times |date=2 August 2021 |access-date=26 October 2021 |archive-date=2 November 2021 |archive-url=https://web.archive.org/web/20211102131640/https://economictimes.indiatimes.com/tech/startups/policybazaar-files-drhp-with-sebi-for-rs-6000-crore-ipo/articleshow/84966425.cms |url-status=live }}</ref>

== History ==
Policybazaar.com was founded in June 2008 by Yashish Dahiya, Alok Bansal, and Avaneesh Nirjar, starting out as an insurance comparison website.<ref name=":0">{{Cite web|url=http://www.forbesindia.com/article/big-bet/for-policybazaar-health-cares-the-best-policy/50855/1|title=For PolicyBazaar, health care's the best policy|website=Forbes India|language=en|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022110928/http://www.forbesindia.com/article/big-bet/for-policybazaar-health-cares-the-best-policy/50855/1|url-status=live}}</ref><ref name="Forbes" /><ref name="ET">{{Cite news |url=https://economictimes.indiatimes.com/india-emerging/policybazaar-gurgaon-based-start-up-offers-buyers-opportunity-to-compare-and-choose-insurance-policies/articleshow/9059348.cms |title=Policybazaar, Gurgaon based start-up offers buyers an opportunity to compare and choose insurance policies |last=Chatterjee |first=Paramita |date=11 July 2011 |work=The Economic Times |access-date=18 July 2018 |archive-date=18 July 2018 |archive-url=https://web.archive.org/web/20180718205153/https://economictimes.indiatimes.com/india-emerging/policybazaar-gurgaon-based-start-up-offers-buyers-opportunity-to-compare-and-choose-insurance-policies/articleshow/9059348.cms |url-status=live }}</ref> At that time, the [[Insurance in India|Indian insurance industry]] still lacked transparency and policies were mostly sold through agents.<ref name="Quartz" /> Policybazaar started by listing the details of multiple insurance policies for customers to choose from.<ref name="Quartz" /><ref>{{Cite news |url=https://techcrunch.com/2018/06/25/indias-policybazaar-raises-200m-led-by-softbanks-vision-fund/ |title=India's PolicyBazaar raises $200M led by SoftBank's Vision Fund |last=Russell |first=Jon |date=25 June 2018 |work=TechCrunch |access-date=18 July 2018 |archive-date=18 July 2018 |archive-url=https://web.archive.org/web/20180718205903/https://techcrunch.com/2018/06/25/indias-policybazaar-raises-200m-led-by-softbanks-vision-fund/ |url-status=live }}</ref> It began as a price-comparison website,<ref name="Quartz" /> and an information portal for learning about insurance and insurance programs. The website subsequently expanded to becoming a marketplace for [[Insurance policy|insurance policies]]. In 2015, Policybazaar launched its app<ref>{{Cite web|url=http://www.pitchonnet.com/blog/2015/02/05/policybazaar-com-launches-mobile-app-consumers/|title=Policybazaar.com Launches Mobile App for Consumers|date=2015-02-05|website=PitchOnnet|language=en-US|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022110926/http://www.pitchonnet.com/blog/2015/02/05/policybazaar-com-launches-mobile-app-consumers/|url-status=live}}</ref> for [[Android (operating system)|Android]] and [[iOS]] users.

In February 2020, Sarbvir Singh was appointed CEO effective December 2019 while Yashish Dahiya took over the role of group CEO.<ref>{{Cite web|url=https://inc42.com/buzz/policybazaar-rejig-sarbvir-singh-replaces-cofounder-yashish-dahiya-as-ceo/amp/|title=PolicyBazaar Rejig: Sarbvir Singh Is New CEO; Cofounder Yashish Dahiya Named Group CEO|date=2020-02-20|website=Inc42|language=en|access-date=2020-02-22|archive-date=22 February 2020|archive-url=https://web.archive.org/web/20200222150415/https://inc42.com/buzz/policybazaar-rejig-sarbvir-singh-replaces-cofounder-yashish-dahiya-as-ceo/amp/|url-status=live}}</ref>

In June 2021, Policybazaar obtained the [[Insurance broker|insurance broking]] license from [[Insurance Regulatory and Development Authority|IRDAI]] and announced that it would set up 100 offline outlets across India. The company also surrendered its web aggregator license.<ref>{{cite news |title=Policybazaar gets insurance broking licence |url=https://www.livemint.com/insurance/news/policybazaar-gets-insurance-broking-licence-11623402729722.html |access-date=9 November 2021 |work=mint |date=11 June 2021 |language=en |archive-date=9 November 2021 |archive-url=https://web.archive.org/web/20211109063304/https://www.livemint.com/insurance/news/policybazaar-gets-insurance-broking-licence-11623402729722.html |url-status=live }}</ref><ref>{{cite news |title=Policybazaar.com forays into insurance brokerage, opens 15 retail stores |url=https://www.business-standard.com/article/companies/policybazaar-com-forays-into-insurance-brokerage-opens-15-retail-stores-121062500605_1.html |access-date=9 November 2021 |work=Business Standard India |date=25 June 2021 |archive-date=9 November 2021 |archive-url=https://web.archive.org/web/20211109063304/https://www.business-standard.com/article/companies/policybazaar-com-forays-into-insurance-brokerage-opens-15-retail-stores-121062500605_1.html |url-status=live }}</ref>

==Product==
{{advert section|date=June 2022}}
Policybazaar moved from a policy price comparison website to an insurance selling operation. The company claims to process nearly 25% of India's life insurance and over 7% of the country's retail health cover.<ref name="Quartz" /> Policybazaar provides several types of insurance plans like [[life insurance]], [[health insurance]], [[Vehicle insurance|motor insurance]], [[travel insurance]] as well as group plans.

Policybazaar.com has tie-ups with insurance companies that help it procure information such as price, benefit, insurance cover, etc. directly from the insurers. Users can use the Policybazaar website or app to research, compare and buy insurance policies from over 40 insurance providers. Policybazaar has companies, who offer [[Vehicle insurance|car insurance]], [[health insurance]], [[life insurance]], corporate insurance, and [[travel insurance]], as its business partners.

[[Insurance Regulatory and Development Authority|Insurance Regulatory And Development Authority of India]] regulates the insurance web aggregation business of Policybazaar. The company is registered as an insurance web aggregator under the Insurance Web Aggregator Regulations, 2017.<ref>http://www.policyholder.gov.in/uploads/CEDocuments/Web%20Aggregators%20Regulations%202017.pdf {{Webarchive|url=https://web.archive.org/web/20191101043027/http://www.policyholder.gov.in/uploads/CEDocuments/Web%20Aggregators%20Regulations%202017.pdf |date=1 November 2019 }} {{Bare URL PDF|date=March 2022}}</ref>

== Funding ==
Policybazaar.com has so far raised US$366 million in 7 rounds of funding since its inception in 2008.<ref>{{Cite web|url=https://www.businesstoday.in/current/corporate/policybazaar-raises-usd-200-million-funding-round-led-softbank-enters-unicorn-club/story/279552.html|title=PolicyBazaar raises $200 million in a funding round led by SoftBank, enters the unicorn club|website=www.businesstoday.in|date=26 June 2018|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022110929/https://www.businesstoday.in/current/corporate/policybazaar-raises-usd-200-million-funding-round-led-softbank-enters-unicorn-club/story/279552.html|url-status=live}}</ref>

[[Info Edge]], which runs the online job portal [[Naukri.com]], invested {{INRconvert|30|c|year=2008|mode=historical}} as the seed fund in Policybazaar in mid 2008.<ref name=":0"/> Intel Capital and Info Edge invested {{INRconvert|60|c|year=2011|mode=historical}} into Policybazaar in May 2011 as part of the venture round.<ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/banking/finance/policybazaar-raises-5-million-from-inventus-capital-info-edge-and-intel-capital/articleshow/19441695.cms|title=Policybazaar raises $5 million from Inventus Capital, Info Edge and Intel Capital|last=Gooptu|first=Biswarup|date=2013-04-08|work=The Economic Times|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022111250/https://economictimes.indiatimes.com/industry/banking/finance/policybazaar-raises-5-million-from-inventus-capital-info-edge-and-intel-capital/articleshow/19441695.cms|url-status=live}}</ref>

Policybazaar raised US$9 million from Intel Capital and Inventus Capital Partners in its series A investment round.<ref name=":0" /> Policybazaar raised US$5 million in its third round of funding in April 2013. This Series B investment was led by Inventus Capital Partners along with Info Edge and Intel Capital.<ref>{{Cite web|url=https://www.businesstoday.in/current/corporate/policybazaar-raises-$5-mn-from-inventus-capital-others/story/193906.html|title=Policybazaar raises $5 mn from Inventus Capital, others|website=www.businesstoday.in|date=8 April 2013|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022111936/https://www.businesstoday.in/current/corporate/policybazaar-raises-$5-mn-from-inventus-capital-others/story/193906.html|url-status=live}}</ref><ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/banking/finance/policybazaar-raises-5-million-from-inventus-capital-info-edge-and-intel-capital/articleshow/19441695.cms?from=mdr|title=Policybazaar raises $5 million from Inventus Capital, Info Edge and Intel Capital|last=Gooptu|first=Biswarup|date=2013-04-08|work=The Economic Times|access-date=2019-10-22|archive-date=29 October 2019|archive-url=https://web.archive.org/web/20191029111624/https://economictimes.indiatimes.com/industry/banking/finance/policybazaar-raises-5-million-from-inventus-capital-info-edge-and-intel-capital/articleshow/19441695.cms?from=mdr|url-status=live}}</ref><ref name="techcircle.in">{{Cite web|url=https://www.techcircle.in/2014/05/26/online-insurance-policy-aggregator-policybazaar-raises-20m-more-valued-around-100m|title=Tiger Global invests $20M in Series C in online insurance policy aggregator PolicyBazaar|date=2014-05-26|website=Techcircle|language=en-US|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022111941/https://www.techcircle.in/2014/05/26/online-insurance-policy-aggregator-policybazaar-raises-20m-more-valued-around-100m|url-status=live}}</ref> In May 2014, Policybazaar.com raised $20 million in a Series C round of funding from existing investors including [[Tiger Global Management]].<ref name="techcircle.in"/>

Policybazaar raised around $40 million in its Series D round of funding in April 2015 from Premji Invest, the personal investment vehicle of [[Wipro]] chairman [[Azim Premji]]. The Series D also attracted money from Steadview Capital and ABG Capital.<ref name=":1">{{Cite web|url=https://www.vccircle.com/policybazaar-raises-around-40m-series-d-round-led-premjiinvest|title=PolicyBazaar raises around $40M in Series D round led by PremjiInvest|date=2015-04-14|website=VCCircle|language=en-US|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022111937/https://www.vccircle.com/policybazaar-raises-around-40m-series-d-round-led-premjiinvest|url-status=live}}</ref><ref name=":2">{{Cite web|url=https://inc42.com/buzz/policybazaar-gets-40-mn-in-series-d-from-premjiinvest-steadview-abg-capital-existing-investors|title=PolicyBazaar Gets $40 Mn In Series D From PremJiInvest, Steadview, ABG Capital & Existing Investors|last=vishalsingh1691|date=2015-04-15|website=Inc42 Media|language=en-US|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022111943/https://inc42.com/buzz/policybazaar-gets-40-mn-in-series-d-from-premjiinvest-steadview-abg-capital-existing-investors/|url-status=live}}</ref> Policybazaar raised US$77 million in its Series E funding round. This was led by at least three new investors including True North and IDG Venture Partners invested in this round. Also, several media reports claimed that Boston-based asset management firm Wellington Management Group invested in the online insurance aggregator.<ref name=":3">{{Cite web|url=https://www.vccircle.com/policybazaar-raises-77-mn-in-series-e-funding|title=Policybazaar raises $77 mn in Series E funding|date=2017-10-13|website=VCCircle|language=en-US|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022111940/https://www.vccircle.com/policybazaar-raises-77-mn-in-series-e-funding|url-status=live}}</ref>

Policybazaar raised a total of US$238 million in June 2018 in its series F funding. Tokyo-based [[SoftBank Group|Softbank Group]]’s Vision fund led the round with its US$150 million investment that gave it a 15% stake in the parent company of Policybazaar - ETechAces Marketing and Consulting. The Series F investment saw Info Edge put in $45 million in the company through a special purpose vehicle, effectively lifting its stake to 13% from 9%.<ref name=":4">{{Cite news|url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/indias-policybazaar-raises-over-200-mln-in-softbank-led-round/articleshow/64734167.cms|title=PolicyBazaar raises over $22238 million in SoftBank-led round|last=Gooptu|first=Biswarup|date=2018-06-26|work=The Economic Times|access-date=2019-10-22|archive-date=13 May 2021|archive-url=https://web.archive.org/web/20210513141309/https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/indias-policybazaar-raises-over-200-mln-in-softbank-led-round/articleshow/64734167.cms|url-status=live}}</ref> Softbank invested an additional $130 million to increase its stake to 15% in July 2020, valuing Policybazaar at around U$1.5 billion.<ref>{{cite news |last1=Jul 4 |first1=Madhav Chanchani / TNN / Updated |title=SoftBank buys more stake in PolicyBazaar in $130 million deal |url=https://timesofindia.indiatimes.com/business/india-business/softbank-buys-more-stake-in-policybazaar-in-130m-deal/articleshow/76776972.cms |website=The Times of India |date=4 July 2020 |access-date=26 October 2021 |language=en |archive-date=26 October 2021 |archive-url=https://web.archive.org/web/20211026195136/https://timesofindia.indiatimes.com/business/india-business/softbank-buys-more-stake-in-policybazaar-in-130m-deal/articleshow/76776972.cms |url-status=live }}</ref>

In November 2021, PB Fintech Ltd, the parent company of Policybazaar, opened its [[initial public offering]] (IPO) and raised {{INRConvert|5625|c}}.<ref>{{cite web |last1=Sonavane |first1=Ravindra N. |title=Policybazaar IPO launch date announced: Price band, other details here |url=https://www.livemint.com/companies/news/policybazaar-ipo-launch-date-announced-11635257212573.html |website=mint |access-date=26 October 2021 |language=en |date=26 October 2021 |archive-date=26 October 2021 |archive-url=https://web.archive.org/web/20211026171306/https://www.livemint.com/companies/news/policybazaar-ipo-launch-date-announced-11635257212573.html |url-status=live }}</ref> Shares of PB Fintech Ltd began trading on [[National Stock Exchange of India|National Stock Exchange]] and [[Bombay Stock Exchange]] on 15 November 2021.<ref>{{cite web |title=Policybazaar Shares To Debut On Bourses On November 15 |url=https://www.ndtv.com/business/policybazaar-shares-to-debut-on-bourses-on-november-15-2610605 |website=NDTV.com |access-date=15 November 2021 |archive-date=15 November 2021 |archive-url=https://web.archive.org/web/20211115045005/https://www.ndtv.com/business/policybazaar-shares-to-debut-on-bourses-on-november-15-2610605 |url-status=live }}</ref>

=== Investors ===
* [[SoftBank Group]] (15.76%)<ref name="Shareholding">{{cite news |title=PolicyBazaar parent's IPO to open on November 1 |url=https://economictimes.indiatimes.com/tech/startups/policybazaar-parents-ipo-to-open-on-november-1/articleshow/87285364.cms |website=The Economic Times |access-date=26 October 2021 |archive-date=26 October 2021 |archive-url=https://web.archive.org/web/20211026181442/https://economictimes.indiatimes.com/tech/startups/policybazaar-parents-ipo-to-open-on-november-1/articleshow/87285364.cms |url-status=live }}</ref>
* [[Info Edge]] (India) Limited (14.56%)<ref name="Shareholding"/>
* SVF Python II (Cayman) (9.5%)<ref>{{cite web |title=Policybazaar IPO To Open On November 1, Price Band Set At Rs 940-Rs 980 A Share |url=https://www.moneycontrol.com/news/business/ipo/policybazaar-ipo-to-open-on-november-1-7631891.html |website=Moneycontrol |date=26 October 2021 |access-date=26 October 2021 |language=en |archive-date=26 October 2021 |archive-url=https://web.archive.org/web/20211026153309/https://www.moneycontrol.com/news/business/ipo/policybazaar-ipo-to-open-on-november-1-7631891.html |url-status=live }}</ref>
* [[Tencent]] (9.16%)<ref name="Shareholding"/>
* [[Claymore Investment]] (6.26%)<ref name="Shareholding"/>
* [[Tiger Management|Tiger Global Management]]<ref name="Shareholding"/>
* Falcon Edge<ref name="Shareholding"/>
* Alpha Wave<ref name="Shareholding"/>
* [[Chiratae Ventures]]<ref>{{Cite web|url=https://www.chiratae.com/portfolio/|title=Portfolio|website=Chiratae Ventures|language=en-US|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022120722/https://www.chiratae.com/portfolio/|url-status=live}}</ref>
* Inventus Capital Partners<ref>{{Cite web|url=https://inventusindia.com/entrepreneurs/,%20https://inventusindia.com/entrepreneurs/|title=Inventus Capital India {{!}} Early-Stage Venture Capital Firm {{!}} Inventus Capital India {{!}} Early-Stage Venture Capital|last=|date=2018-06-12|language=en-US|access-date=2019-10-22}}</ref>
* Premji Invest <ref name=":2" />
* Ribbit Capital<ref>{{Cite web|url=https://ribbitcap.com/our-bets/|title=Ribbit Capital|date=2015-10-05|website=Ribbit Capital|language=en-US|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022120717/https://ribbitcap.com/our-bets/|url-status=live}}</ref>
* Steadview Capital Management<ref name=":1" />
* [[Temasek Holdings]]<ref name=":4" />
* True North traces<ref>{{Cite web|url=https://www.vccircle.com/true-north-idg-ventures-may-pump-20-mn-into-policybazaar|title=True North, IDG Ventures may pump $20 mn into PolicyBazaar|date=2017-09-04|website=VCCircle|language=en-US|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022120719/https://www.vccircle.com/true-north-idg-ventures-may-pump-20-mn-into-policybazaar|url-status=live}}</ref>
*[[Wellington Management Company]]<ref>{{Cite web|date=2017-10-13|title=Wellington Management Backs Online Insurance Aggregator PolicyBazaar|url=https://inc42.com/buzz/policybazaar-online-insurance-wellington/|access-date=2021-03-07|website=Inc42 Media|language=en-US|archive-date=15 April 2021|archive-url=https://web.archive.org/web/20210415103408/https://inc42.com/buzz/policybazaar-online-insurance-wellington/|url-status=live}}</ref>

== Awards ==
* IAMAI Indian Digital Awards for best financial website 2015<ref>{{Cite web|url=https://bestmediainfo.com/2015/01/iamai-announces-winners-of-5th-india-digital-awards/|title=IAMAI announces winners of 5th India Digital Awards|website=www.bestmediaifo.com|date=16 January 2015|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023065426/https://bestmediainfo.com/2015/01/iamai-announces-winners-of-5th-india-digital-awards/|url-status=live}}</ref>
* Award for Best Mobile App Consumer Finance in 2015 by GSF Mobile Appies<ref>{{Cite web|url=https://inc42.com/buzz/gsf-announces-mobile-appies-awards-platform-recognizing-best-mobile-apps|title=GSF Announces "Mobile Appies" Awards, Platform For Recognizing Best Mobile Apps|date=2015-02-12|website=Inc42 Media|language=en-US|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023065436/https://inc42.com/buzz/gsf-announces-mobile-appies-awards-platform-recognizing-best-mobile-apps/|url-status=live}}</ref>
* Exchange4media Golden Mikes Award 2015<ref>{{Cite web|url=https://www.exchange4media.com/media-radio-news/hulmadison-mediao-mradio-city-win-big-at-golden-mikes-2015-59533.html|title=HUL, Madison Media, O&M, Radio City win big at Golden Mikes 2015 - Exchange4media|website=Indian Advertising Media & Marketing News – exchange4media|language=en|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023065423/https://www.exchange4media.com/media-radio-news/hulmadison-mediao-mradio-city-win-big-at-golden-mikes-2015-59533.html|url-status=live}}</ref>
* CMO Asia Awards 2015<ref>{{Cite web|url=https://www.cmoasia.org/cmo-asia-awards.html|title=CMO Asia Awards|website=www.cmoasia.org|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023065425/https://www.cmoasia.org/cmo-asia-awards.html|url-status=live}}</ref>
* BAM Award 2015<ref>{{Cite web|url=http://indianconventions.blogspot.com/2015/11/|title=Indian Conventions Awards|language=en-GB|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023065426/http://indianconventions.blogspot.com/2015/11/|url-status=live}}</ref>
* Excellence in Operations - Iconic IDC Insight Award 2015<ref>{{Cite news|url=https://www.business-standard.com/article/news-ani/hdfc-life-launches-new-click-2-protect-3d-plus-118082101020_1.html|title=HDFC Life Launches New Click 2 Protect 3D Plus|last=ANI|date=2018-08-21|work=Business Standard India|access-date=2019-10-23|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022095900/https://www.business-standard.com/article/news-ani/hdfc-life-launches-new-click-2-protect-3d-plus-118082101020_1.html|url-status=live}}</ref>
* Emerging Star Award - BML Munjal Award 2017<ref>{{Cite web|url=http://www.bmlmunjalawards.com/2017/index.aspx|title=BML MUNJAL AWARDS|website=www.bmlmunjalawards.com|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023065424/http://www.bmlmunjalawards.com/2017/index.aspx|url-status=live}}</ref>
* Insurance Innovation Award 2018 - The Digital Insurer Global Livefest Award<ref>{{Cite web|url=https://livefest2018.the-digital-insurer.com/insurance-innovation-winners/|title=Insurance Innovation Winners|website=TDI Livefest 2018|language=en-AU|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023065422/https://livefest2018.the-digital-insurer.com/insurance-innovation-winners/|url-status=live}}</ref>
* Best Insurance Tech - IAMAI India Digital Awards 2018<ref>{{Cite web|url=https://www.iamaiida.in/Winners2019.php|title=IAMAI - India Digital Awards|website=www.iamaiida.in|access-date=2019-10-23|archive-date=31 May 2019|archive-url=https://web.archive.org/web/20190531091429/https://www.iamaiida.in/Winners2019.php|url-status=dead}}</ref>
* Best Marketing & PR Campaigns - India PR & Communications Awards 2018<ref>{{Cite web|url=https://e4mevents.com/iprcca-2018/public/winners.html|title=E4M events winners list|last=|first=|date=|website=e4mevents.com|url-status=live|archive-url=https://web.archive.org/web/20191023065426/https://e4mevents.com/iprcca-2018/public/winners.html|archive-date=23 October 2019|access-date=2019-10-23}}</ref>
* Best Content in Online PR Campaign - Drivers of Digital - Inkspell Awards 2018<ref>{{Cite web|url=https://www.dodawards.in/dod-2018/|title=Dod 2018|website=DOD Awards|language=en-US|access-date=2019-10-23|archive-date=29 September 2020|archive-url=https://web.archive.org/web/20200929005315/https://www.dodawards.in/dod-2018/|url-status=live}}</ref>
* Best Consumer Awareness Campaign - Silver -Economic Times Brand Equity Kaleido Award 2019<ref>{{Cite web|url=https://brandequity.economictimes.indiatimes.com/kaleido/winners|title=Kaleido Awards {{!}} ET BrandEquity|last=www.ETBrandEquity.com|website=ETBrandEquity.com|language=en|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023065426/https://brandequity.economictimes.indiatimes.com/kaleido/winners|url-status=live}}</ref>
* Best bank in Fintech - Financial Express Best Bank 2019<ref>{{Cite web|url=https://www.financialexpress.com/fe-best-banks/fe-best-banks-awards-celebrating-the-very-best-banking/1439277/|title=FE Best Banks Awards: Celebrating the very best of banking|date=2019-01-10|website=The Financial Express|language=en-US|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023065425/https://www.financialexpress.com/fe-best-banks/fe-best-banks-awards-celebrating-the-very-best-banking/1439277/|url-status=live}}</ref>
* Leading Fintech Innovator in India - KPMG-H2 Ventures Report<ref>{{Cite web|url=https://home.kpmg/content/dam/kpmg/at/pdf/presse/fintech100-2018-report.pdf|title=fintech100 2018 report|access-date=2023-05-11|archive-date=21 September 2019|archive-url=https://web.archive.org/web/20190921142235/https://home.kpmg/content/dam/kpmg/at/pdf/presse/fintech100-2018-report.pdf|url-status=live}}</ref>

==Controversies==
In early 2019, Policybazaar filed an intellectual property case against insurance company [[Acko General Insurance]] and Coverfox Insurance Broking Private Limited for trademark infringement.<ref>{{Cite web|url=https://inc42.com/buzz/court-slaps-inr-10-lakh-fine-on-policybazaar-in-trademark-infringement-case-against-acko|title=Court Slaps INR 10 Lakh Fine On PolicyBazaar In Trademark Infringement Case Against Acko|date=2019-06-05|website=Inc42 Media|language=en-US|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023070126/https://inc42.com/buzz/court-slaps-inr-10-lakh-fine-on-policybazaar-in-trademark-infringement-case-against-acko/|url-status=live}}</ref><ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/banking/finance/insure/hc-imposes-rs-10-lakh-cost-on-policybazaar-for-concealing-facts-to-obtain-interim-order/articleshow/69651079.cms|title=HC imposes Rs 10 lakh cost on Policybazaar for concealing facts to obtain interim order|date=2019-06-04|work=The Economic Times|access-date=2019-10-23|archive-date=27 September 2019|archive-url=https://web.archive.org/web/20190927154150/https://economictimes.indiatimes.com/industry/banking/finance/insure/hc-imposes-rs-10-lakh-cost-on-policybazaar-for-concealing-facts-to-obtain-interim-order/articleshow/69651079.cms|url-status=live}}</ref>

In May 2021, the [[Insurance Regulatory and Development Authority|Insurance Regulatory and Development Authority of India]] (IRDAI) imposed a fine of {{INRConvert|24|l}} on Policybazaar for flouting norms related to [[SMS]] advertising.<ref>{{cite web|title=Policybazaar fined R.s. 24 lakh for flouting IRDAI's SMS ad rules|url=https://economictimes.indiatimes.com/tech/startups/policybazaar-fined-rs-24-lakh-for-flouting-irdais-sms-ad-rules/articleshow/82802221.cms|website=The Economics Times|publisher=Rahul Awasthi|access-date=20 May 2021|archive-url=https://web.archive.org/web/20210520145006/https://economictimes.indiatimes.com/tech/startups/policybazaar-fined-rs-24-lakh-for-flouting-irdais-sms-ad-rules/articleshow/82802221.cms|archive-date=20 May 2021|url-status=live}}</ref>

On 25th July 2022, Policybazaar [https://www.livemint.com/companies/news/it-system-compromised-says-policybazar-authorities-informed-11658707082611.html acknowledged] that there had been a data breach, resulting in over 50 million user data records being leaked. Cyberx9 [https://www.cyberx9.com/china-policybazaar-millions-customers-defense-data-exposed-blog reported] that they identified the vulnerabilities, which seemed like “intentional backdoor vulnerabilities”, which “did not get fixed until 7 days even though it would take about an hour to fix them”.

On 6th Dec 2023, Policybazaar Sends [[Defamation]] Notice To Insurance Review Platform [https://www.beshak.org/ Beshak].<ref>https://www.freepressjournal.in/business/beshakorg-responds-to-policybazaar-legal-notice-founder-mahavir-chopra-reaffirms-commitment-to-unbiased-content-freedom-of-speech</ref><ref>https://www.medianama.com/2023/12/223-policybazaar-defamation-notice-beshak/</ref><ref>https://www.crunchbase.com/organization/policybazaar/signals_and_news</ref>

== References ==
{{reflist}}

==External links==
*[https://www.policybazaar.com/ Official website]
*[https://www.policybazaar.ae/ PolicyBazaar UAE]

[[Category:Indian companies established in 2008]]
[[Category:Financial services companies established in 2008]]
[[Category:Online financial services companies of India]]
[[Category:Insurance companies of India]]
[[Category:Companies based in Gurgaon]]
[[Category:2008 establishments in Haryana]]
[[Category:2021 initial public offerings]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]

Policybazaar

2024-02-14T15:12:07Z

Iabhishekpareek: /* Controversies */

{{Short description|Indian insurance aggregator}}
{{Cleanup-PR|1=article|date=March 2023}}
{{Use dmy dates|date=July 2019}}
{{Infobox company
| name = Policybazaar
| logo = Policybazaar Logo.gif
| logo_size =
| logo_alt =
| logo_caption =
| image =
| image_size =
| image_alt =
| image_caption =
| trade_name =
| type = [[Publicly held company|Public]]
| traded_as = {{Unbulleted list|{{NSE|POLICYBZR}}|{{BSE|543390}}}}
| ISIN = INE417T01026
| industry = {{ubl|[[Financial technology]]|[[Insurance]]}}
| founded = {{Start date and age|df=yes|2008|07}} in [[Gurgaon]]
| founders = {{ubl|Yashish Dahiya|Alok Bansal|Avaneesh Nirjar}}
| hq_location = Plot No. 119, Sector 44
| hq_location_city = [[Gurgaon]], [[Haryana]]
| hq_location_country = India<ref>{{cite web |title=Contact Us |url=https://www.policybazaar.com/contact-us/ |website=PolicyBazaar |access-date=26 October 2021 |archive-date=26 October 2021 |archive-url=https://web.archive.org/web/20211026193327/https://www.policybazaar.com/contact-us/ |url-status=live }}</ref>
| areas_served = {{ubl|India|[[UAE]]}}
| key_people =
| products = Insurance
| services = {{ubl|[[Data aggregator|Insurance aggregation]]|[[Insurance broker|Insurance broking]]}}
| revenue = {{increase}} {{INRconvert|2558|c}} (FY23)<ref name="fy23"/>
| operating_income = {{positive decrease}} {{INRConvert|-299|c}} (FY23)<ref name="fy23"/>
| net_income = {{positive decrease}} {{INRconvert|-488|c}} (FY23)<ref name="fy23">{{cite news |last1=Upadhyay |first1=Harsh |last2=Ashrafi |first2=Md Salman |title=PolicyBazaar's scale crosses Rs 2,500 Cr in FY23, losses shrink 41% |url=https://entrackr.com/2023/05/policybazaars-scale-crosses-rs-2500-cr-in-fy23-losses-shrink-41/ |access-date=3 June 2023 |work=Entrackr |date=22 May 2023 |archive-date=3 June 2023 |archive-url=https://web.archive.org/web/20230603185033/https://entrackr.com/2023/05/policybazaars-scale-crosses-rs-2500-cr-in-fy23-losses-shrink-41/ |url-status=live }}</ref>
| parent = PB Fintech Ltd
| divisions =
| subsid =
| website = {{URL|https://www.policybazaar.com/}}
}}
'''Policybazaar''' is an Indian [[insurance]] [[Data aggregation|aggregator]] and multinational financial technology company based in [[Gurgaon]]. The company was founded in June 2008 by Yashish Dahiya,<ref>{{Cite news|url=https://economictimes.indiatimes.com/magazines/panache/policybazaar-co-founders-success-mantra-how-running-swimming-help-yashish-dahiya-stay-unbiased-at-work/articleshow/65222101.cms|title=Yashish Dahiya's success mantra: Running, swimming help him stay unbiased at work|last=Menon|first=Rashmi|date=2018-08-01|work=The Economic Times|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022111249/https://economictimes.indiatimes.com/magazines/panache/policybazaar-co-founders-success-mantra-how-running-swimming-help-yashish-dahiya-stay-unbiased-at-work/articleshow/65222101.cms|url-status=live}}</ref> Alok Bansal<ref>{{Cite web|title=Alok Bansal, CFO/Co-Founder, Policybazaar Insurance Web Aggregator Pvt Ltd|url=https://www.bloomberg.com/profile/person/20472655|website=www.bloomberg.com|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022100253/https://www.bloomberg.com/profile/person/20472655|url-status=live}}</ref> and Avaneesh Nirjar.<ref>{{Cite web|url=https://inc42.com/buzz/insurance-company-policybazaar-explore-healthcare-tech-services|title=Online Insurance Company PolicyBazaar Gears Up To Explore Healthcare Tech And Services Market|date=2018-03-12|website=Inc42 Media|language=en-US|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022110932/https://inc42.com/buzz/insurance-company-policybazaar-explore-healthcare-tech-services/|url-status=live}}</ref> It provides a digital platform - website and app - where users can compare [[Insurance policy|insurance policies]] and other financial services from major insurance companies. The company is India's largest insurance aggregator,<ref>{{Cite web|url=http://www.forbesindia.com/article/real-issue/irda-could-stifle-online-insurance-aggregators/36081/1|title=IRDA Could Stifle Online Insurance Aggregators|website=Forbes India|language=en|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022100254/http://www.forbesindia.com/article/real-issue/irda-could-stifle-online-insurance-aggregators/36081/1|url-status=live}}</ref> and has expanded its operations to the [[United Arab Emirates]].<ref>{{Cite news|url=https://www.business-standard.com/article/news-ani/policybazaar-group-forays-into-uae-insurance-and-lending-market-118092400379_1.html|title=Policybazaar Group forays into UAE insurance and lending market|last=ANI|date=2018-09-24|work=Business Standard India|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022095847/https://www.business-standard.com/article/news-ani/policybazaar-group-forays-into-uae-insurance-and-lending-market-118092400379_1.html|url-status=live}}</ref><ref name="Quartz">{{Cite news |url=https://qz.com/1314616/policybazaar-joins-indias-unicorn-club-with-over-200-million-from-softbank-infoedge/ |title=India's newest unicorn is disrupting a 200-year-old industry |last=U N |first=Sushma |date=27 June 2018 |work=Quartz |access-date=18 July 2018 |archive-date=18 July 2018 |archive-url=https://web.archive.org/web/20180718205620/https://qz.com/1314616/policybazaar-joins-indias-unicorn-club-with-over-200-million-from-softbank-infoedge/ |url-status=live }}</ref><ref name="Forbes">{{Cite news |url=http://www.forbesindia.com/article/hidden-gems-2017/policybazaar-the-best-policy/47891/1 |title=Policybazaar: The best policy |last=Chatterjee |first=Paramita |date=18 August 2017 |work=Forbes India |access-date=18 July 2018 |archive-date=18 July 2018 |archive-url=https://web.archive.org/web/20180718124450/http://www.forbesindia.com/article/hidden-gems-2017/policybazaar-the-best-policy/47891/1 |url-status=live }}</ref>

Policybazaar is the flagship subsidiary of '''PB Fintech Ltd''' which also owns the [[credit]] product aggregator Paisabazaar.<ref>{{cite news |title=Policybazaar files DRHP with Sebi for Rs 6,000-crore IPO |url=https://economictimes.indiatimes.com/tech/startups/policybazaar-files-drhp-with-sebi-for-rs-6000-crore-ipo/articleshow/84966425.cms |website=The Economic Times |date=2 August 2021 |access-date=26 October 2021 |archive-date=2 November 2021 |archive-url=https://web.archive.org/web/20211102131640/https://economictimes.indiatimes.com/tech/startups/policybazaar-files-drhp-with-sebi-for-rs-6000-crore-ipo/articleshow/84966425.cms |url-status=live }}</ref>

== History ==
Policybazaar.com was founded in June 2008 by Yashish Dahiya, Alok Bansal, and Avaneesh Nirjar, starting out as an insurance comparison website.<ref name=":0">{{Cite web|url=http://www.forbesindia.com/article/big-bet/for-policybazaar-health-cares-the-best-policy/50855/1|title=For PolicyBazaar, health care's the best policy|website=Forbes India|language=en|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022110928/http://www.forbesindia.com/article/big-bet/for-policybazaar-health-cares-the-best-policy/50855/1|url-status=live}}</ref><ref name="Forbes" /><ref name="ET">{{Cite news |url=https://economictimes.indiatimes.com/india-emerging/policybazaar-gurgaon-based-start-up-offers-buyers-opportunity-to-compare-and-choose-insurance-policies/articleshow/9059348.cms |title=Policybazaar, Gurgaon based start-up offers buyers an opportunity to compare and choose insurance policies |last=Chatterjee |first=Paramita |date=11 July 2011 |work=The Economic Times |access-date=18 July 2018 |archive-date=18 July 2018 |archive-url=https://web.archive.org/web/20180718205153/https://economictimes.indiatimes.com/india-emerging/policybazaar-gurgaon-based-start-up-offers-buyers-opportunity-to-compare-and-choose-insurance-policies/articleshow/9059348.cms |url-status=live }}</ref> At that time, the [[Insurance in India|Indian insurance industry]] still lacked transparency and policies were mostly sold through agents.<ref name="Quartz" /> Policybazaar started by listing the details of multiple insurance policies for customers to choose from.<ref name="Quartz" /><ref>{{Cite news |url=https://techcrunch.com/2018/06/25/indias-policybazaar-raises-200m-led-by-softbanks-vision-fund/ |title=India's PolicyBazaar raises $200M led by SoftBank's Vision Fund |last=Russell |first=Jon |date=25 June 2018 |work=TechCrunch |access-date=18 July 2018 |archive-date=18 July 2018 |archive-url=https://web.archive.org/web/20180718205903/https://techcrunch.com/2018/06/25/indias-policybazaar-raises-200m-led-by-softbanks-vision-fund/ |url-status=live }}</ref> It began as a price-comparison website,<ref name="Quartz" /> and an information portal for learning about insurance and insurance programs. The website subsequently expanded to becoming a marketplace for [[Insurance policy|insurance policies]]. In 2015, Policybazaar launched its app<ref>{{Cite web|url=http://www.pitchonnet.com/blog/2015/02/05/policybazaar-com-launches-mobile-app-consumers/|title=Policybazaar.com Launches Mobile App for Consumers|date=2015-02-05|website=PitchOnnet|language=en-US|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022110926/http://www.pitchonnet.com/blog/2015/02/05/policybazaar-com-launches-mobile-app-consumers/|url-status=live}}</ref> for [[Android (operating system)|Android]] and [[iOS]] users.

In February 2020, Sarbvir Singh was appointed CEO effective December 2019 while Yashish Dahiya took over the role of group CEO.<ref>{{Cite web|url=https://inc42.com/buzz/policybazaar-rejig-sarbvir-singh-replaces-cofounder-yashish-dahiya-as-ceo/amp/|title=PolicyBazaar Rejig: Sarbvir Singh Is New CEO; Cofounder Yashish Dahiya Named Group CEO|date=2020-02-20|website=Inc42|language=en|access-date=2020-02-22|archive-date=22 February 2020|archive-url=https://web.archive.org/web/20200222150415/https://inc42.com/buzz/policybazaar-rejig-sarbvir-singh-replaces-cofounder-yashish-dahiya-as-ceo/amp/|url-status=live}}</ref>

In June 2021, Policybazaar obtained the [[Insurance broker|insurance broking]] license from [[Insurance Regulatory and Development Authority|IRDAI]] and announced that it would set up 100 offline outlets across India. The company also surrendered its web aggregator license.<ref>{{cite news |title=Policybazaar gets insurance broking licence |url=https://www.livemint.com/insurance/news/policybazaar-gets-insurance-broking-licence-11623402729722.html |access-date=9 November 2021 |work=mint |date=11 June 2021 |language=en |archive-date=9 November 2021 |archive-url=https://web.archive.org/web/20211109063304/https://www.livemint.com/insurance/news/policybazaar-gets-insurance-broking-licence-11623402729722.html |url-status=live }}</ref><ref>{{cite news |title=Policybazaar.com forays into insurance brokerage, opens 15 retail stores |url=https://www.business-standard.com/article/companies/policybazaar-com-forays-into-insurance-brokerage-opens-15-retail-stores-121062500605_1.html |access-date=9 November 2021 |work=Business Standard India |date=25 June 2021 |archive-date=9 November 2021 |archive-url=https://web.archive.org/web/20211109063304/https://www.business-standard.com/article/companies/policybazaar-com-forays-into-insurance-brokerage-opens-15-retail-stores-121062500605_1.html |url-status=live }}</ref>

==Product==
{{advert section|date=June 2022}}
Policybazaar moved from a policy price comparison website to an insurance selling operation. The company claims to process nearly 25% of India's life insurance and over 7% of the country's retail health cover.<ref name="Quartz" /> Policybazaar provides several types of insurance plans like [[life insurance]], [[health insurance]], [[Vehicle insurance|motor insurance]], [[travel insurance]] as well as group plans.

Policybazaar.com has tie-ups with insurance companies that help it procure information such as price, benefit, insurance cover, etc. directly from the insurers. Users can use the Policybazaar website or app to research, compare and buy insurance policies from over 40 insurance providers. Policybazaar has companies, who offer [[Vehicle insurance|car insurance]], [[health insurance]], [[life insurance]], corporate insurance, and [[travel insurance]], as its business partners.

[[Insurance Regulatory and Development Authority|Insurance Regulatory And Development Authority of India]] regulates the insurance web aggregation business of Policybazaar. The company is registered as an insurance web aggregator under the Insurance Web Aggregator Regulations, 2017.<ref>http://www.policyholder.gov.in/uploads/CEDocuments/Web%20Aggregators%20Regulations%202017.pdf {{Webarchive|url=https://web.archive.org/web/20191101043027/http://www.policyholder.gov.in/uploads/CEDocuments/Web%20Aggregators%20Regulations%202017.pdf |date=1 November 2019 }} {{Bare URL PDF|date=March 2022}}</ref>

== Funding ==
Policybazaar.com has so far raised US$366 million in 7 rounds of funding since its inception in 2008.<ref>{{Cite web|url=https://www.businesstoday.in/current/corporate/policybazaar-raises-usd-200-million-funding-round-led-softbank-enters-unicorn-club/story/279552.html|title=PolicyBazaar raises $200 million in a funding round led by SoftBank, enters the unicorn club|website=www.businesstoday.in|date=26 June 2018|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022110929/https://www.businesstoday.in/current/corporate/policybazaar-raises-usd-200-million-funding-round-led-softbank-enters-unicorn-club/story/279552.html|url-status=live}}</ref>

[[Info Edge]], which runs the online job portal [[Naukri.com]], invested {{INRconvert|30|c|year=2008|mode=historical}} as the seed fund in Policybazaar in mid 2008.<ref name=":0"/> Intel Capital and Info Edge invested {{INRconvert|60|c|year=2011|mode=historical}} into Policybazaar in May 2011 as part of the venture round.<ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/banking/finance/policybazaar-raises-5-million-from-inventus-capital-info-edge-and-intel-capital/articleshow/19441695.cms|title=Policybazaar raises $5 million from Inventus Capital, Info Edge and Intel Capital|last=Gooptu|first=Biswarup|date=2013-04-08|work=The Economic Times|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022111250/https://economictimes.indiatimes.com/industry/banking/finance/policybazaar-raises-5-million-from-inventus-capital-info-edge-and-intel-capital/articleshow/19441695.cms|url-status=live}}</ref>

Policybazaar raised US$9 million from Intel Capital and Inventus Capital Partners in its series A investment round.<ref name=":0" /> Policybazaar raised US$5 million in its third round of funding in April 2013. This Series B investment was led by Inventus Capital Partners along with Info Edge and Intel Capital.<ref>{{Cite web|url=https://www.businesstoday.in/current/corporate/policybazaar-raises-$5-mn-from-inventus-capital-others/story/193906.html|title=Policybazaar raises $5 mn from Inventus Capital, others|website=www.businesstoday.in|date=8 April 2013|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022111936/https://www.businesstoday.in/current/corporate/policybazaar-raises-$5-mn-from-inventus-capital-others/story/193906.html|url-status=live}}</ref><ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/banking/finance/policybazaar-raises-5-million-from-inventus-capital-info-edge-and-intel-capital/articleshow/19441695.cms?from=mdr|title=Policybazaar raises $5 million from Inventus Capital, Info Edge and Intel Capital|last=Gooptu|first=Biswarup|date=2013-04-08|work=The Economic Times|access-date=2019-10-22|archive-date=29 October 2019|archive-url=https://web.archive.org/web/20191029111624/https://economictimes.indiatimes.com/industry/banking/finance/policybazaar-raises-5-million-from-inventus-capital-info-edge-and-intel-capital/articleshow/19441695.cms?from=mdr|url-status=live}}</ref><ref name="techcircle.in">{{Cite web|url=https://www.techcircle.in/2014/05/26/online-insurance-policy-aggregator-policybazaar-raises-20m-more-valued-around-100m|title=Tiger Global invests $20M in Series C in online insurance policy aggregator PolicyBazaar|date=2014-05-26|website=Techcircle|language=en-US|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022111941/https://www.techcircle.in/2014/05/26/online-insurance-policy-aggregator-policybazaar-raises-20m-more-valued-around-100m|url-status=live}}</ref> In May 2014, Policybazaar.com raised $20 million in a Series C round of funding from existing investors including [[Tiger Global Management]].<ref name="techcircle.in"/>

Policybazaar raised around $40 million in its Series D round of funding in April 2015 from Premji Invest, the personal investment vehicle of [[Wipro]] chairman [[Azim Premji]]. The Series D also attracted money from Steadview Capital and ABG Capital.<ref name=":1">{{Cite web|url=https://www.vccircle.com/policybazaar-raises-around-40m-series-d-round-led-premjiinvest|title=PolicyBazaar raises around $40M in Series D round led by PremjiInvest|date=2015-04-14|website=VCCircle|language=en-US|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022111937/https://www.vccircle.com/policybazaar-raises-around-40m-series-d-round-led-premjiinvest|url-status=live}}</ref><ref name=":2">{{Cite web|url=https://inc42.com/buzz/policybazaar-gets-40-mn-in-series-d-from-premjiinvest-steadview-abg-capital-existing-investors|title=PolicyBazaar Gets $40 Mn In Series D From PremJiInvest, Steadview, ABG Capital & Existing Investors|last=vishalsingh1691|date=2015-04-15|website=Inc42 Media|language=en-US|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022111943/https://inc42.com/buzz/policybazaar-gets-40-mn-in-series-d-from-premjiinvest-steadview-abg-capital-existing-investors/|url-status=live}}</ref> Policybazaar raised US$77 million in its Series E funding round. This was led by at least three new investors including True North and IDG Venture Partners invested in this round. Also, several media reports claimed that Boston-based asset management firm Wellington Management Group invested in the online insurance aggregator.<ref name=":3">{{Cite web|url=https://www.vccircle.com/policybazaar-raises-77-mn-in-series-e-funding|title=Policybazaar raises $77 mn in Series E funding|date=2017-10-13|website=VCCircle|language=en-US|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022111940/https://www.vccircle.com/policybazaar-raises-77-mn-in-series-e-funding|url-status=live}}</ref>

Policybazaar raised a total of US$238 million in June 2018 in its series F funding. Tokyo-based [[SoftBank Group|Softbank Group]]’s Vision fund led the round with its US$150 million investment that gave it a 15% stake in the parent company of Policybazaar - ETechAces Marketing and Consulting. The Series F investment saw Info Edge put in $45 million in the company through a special purpose vehicle, effectively lifting its stake to 13% from 9%.<ref name=":4">{{Cite news|url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/indias-policybazaar-raises-over-200-mln-in-softbank-led-round/articleshow/64734167.cms|title=PolicyBazaar raises over $22238 million in SoftBank-led round|last=Gooptu|first=Biswarup|date=2018-06-26|work=The Economic Times|access-date=2019-10-22|archive-date=13 May 2021|archive-url=https://web.archive.org/web/20210513141309/https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/indias-policybazaar-raises-over-200-mln-in-softbank-led-round/articleshow/64734167.cms|url-status=live}}</ref> Softbank invested an additional $130 million to increase its stake to 15% in July 2020, valuing Policybazaar at around U$1.5 billion.<ref>{{cite news |last1=Jul 4 |first1=Madhav Chanchani / TNN / Updated |title=SoftBank buys more stake in PolicyBazaar in $130 million deal |url=https://timesofindia.indiatimes.com/business/india-business/softbank-buys-more-stake-in-policybazaar-in-130m-deal/articleshow/76776972.cms |website=The Times of India |date=4 July 2020 |access-date=26 October 2021 |language=en |archive-date=26 October 2021 |archive-url=https://web.archive.org/web/20211026195136/https://timesofindia.indiatimes.com/business/india-business/softbank-buys-more-stake-in-policybazaar-in-130m-deal/articleshow/76776972.cms |url-status=live }}</ref>

In November 2021, PB Fintech Ltd, the parent company of Policybazaar, opened its [[initial public offering]] (IPO) and raised {{INRConvert|5625|c}}.<ref>{{cite web |last1=Sonavane |first1=Ravindra N. |title=Policybazaar IPO launch date announced: Price band, other details here |url=https://www.livemint.com/companies/news/policybazaar-ipo-launch-date-announced-11635257212573.html |website=mint |access-date=26 October 2021 |language=en |date=26 October 2021 |archive-date=26 October 2021 |archive-url=https://web.archive.org/web/20211026171306/https://www.livemint.com/companies/news/policybazaar-ipo-launch-date-announced-11635257212573.html |url-status=live }}</ref> Shares of PB Fintech Ltd began trading on [[National Stock Exchange of India|National Stock Exchange]] and [[Bombay Stock Exchange]] on 15 November 2021.<ref>{{cite web |title=Policybazaar Shares To Debut On Bourses On November 15 |url=https://www.ndtv.com/business/policybazaar-shares-to-debut-on-bourses-on-november-15-2610605 |website=NDTV.com |access-date=15 November 2021 |archive-date=15 November 2021 |archive-url=https://web.archive.org/web/20211115045005/https://www.ndtv.com/business/policybazaar-shares-to-debut-on-bourses-on-november-15-2610605 |url-status=live }}</ref>

=== Investors ===
* [[SoftBank Group]] (15.76%)<ref name="Shareholding">{{cite news |title=PolicyBazaar parent's IPO to open on November 1 |url=https://economictimes.indiatimes.com/tech/startups/policybazaar-parents-ipo-to-open-on-november-1/articleshow/87285364.cms |website=The Economic Times |access-date=26 October 2021 |archive-date=26 October 2021 |archive-url=https://web.archive.org/web/20211026181442/https://economictimes.indiatimes.com/tech/startups/policybazaar-parents-ipo-to-open-on-november-1/articleshow/87285364.cms |url-status=live }}</ref>
* [[Info Edge]] (India) Limited (14.56%)<ref name="Shareholding"/>
* SVF Python II (Cayman) (9.5%)<ref>{{cite web |title=Policybazaar IPO To Open On November 1, Price Band Set At Rs 940-Rs 980 A Share |url=https://www.moneycontrol.com/news/business/ipo/policybazaar-ipo-to-open-on-november-1-7631891.html |website=Moneycontrol |date=26 October 2021 |access-date=26 October 2021 |language=en |archive-date=26 October 2021 |archive-url=https://web.archive.org/web/20211026153309/https://www.moneycontrol.com/news/business/ipo/policybazaar-ipo-to-open-on-november-1-7631891.html |url-status=live }}</ref>
* [[Tencent]] (9.16%)<ref name="Shareholding"/>
* [[Claymore Investment]] (6.26%)<ref name="Shareholding"/>
* [[Tiger Management|Tiger Global Management]]<ref name="Shareholding"/>
* Falcon Edge<ref name="Shareholding"/>
* Alpha Wave<ref name="Shareholding"/>
* [[Chiratae Ventures]]<ref>{{Cite web|url=https://www.chiratae.com/portfolio/|title=Portfolio|website=Chiratae Ventures|language=en-US|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022120722/https://www.chiratae.com/portfolio/|url-status=live}}</ref>
* Inventus Capital Partners<ref>{{Cite web|url=https://inventusindia.com/entrepreneurs/,%20https://inventusindia.com/entrepreneurs/|title=Inventus Capital India {{!}} Early-Stage Venture Capital Firm {{!}} Inventus Capital India {{!}} Early-Stage Venture Capital|last=|date=2018-06-12|language=en-US|access-date=2019-10-22}}</ref>
* Premji Invest <ref name=":2" />
* Ribbit Capital<ref>{{Cite web|url=https://ribbitcap.com/our-bets/|title=Ribbit Capital|date=2015-10-05|website=Ribbit Capital|language=en-US|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022120717/https://ribbitcap.com/our-bets/|url-status=live}}</ref>
* Steadview Capital Management<ref name=":1" />
* [[Temasek Holdings]]<ref name=":4" />
* True North traces<ref>{{Cite web|url=https://www.vccircle.com/true-north-idg-ventures-may-pump-20-mn-into-policybazaar|title=True North, IDG Ventures may pump $20 mn into PolicyBazaar|date=2017-09-04|website=VCCircle|language=en-US|access-date=2019-10-22|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022120719/https://www.vccircle.com/true-north-idg-ventures-may-pump-20-mn-into-policybazaar|url-status=live}}</ref>
*[[Wellington Management Company]]<ref>{{Cite web|date=2017-10-13|title=Wellington Management Backs Online Insurance Aggregator PolicyBazaar|url=https://inc42.com/buzz/policybazaar-online-insurance-wellington/|access-date=2021-03-07|website=Inc42 Media|language=en-US|archive-date=15 April 2021|archive-url=https://web.archive.org/web/20210415103408/https://inc42.com/buzz/policybazaar-online-insurance-wellington/|url-status=live}}</ref>

== Awards ==
* IAMAI Indian Digital Awards for best financial website 2015<ref>{{Cite web|url=https://bestmediainfo.com/2015/01/iamai-announces-winners-of-5th-india-digital-awards/|title=IAMAI announces winners of 5th India Digital Awards|website=www.bestmediaifo.com|date=16 January 2015|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023065426/https://bestmediainfo.com/2015/01/iamai-announces-winners-of-5th-india-digital-awards/|url-status=live}}</ref>
* Award for Best Mobile App Consumer Finance in 2015 by GSF Mobile Appies<ref>{{Cite web|url=https://inc42.com/buzz/gsf-announces-mobile-appies-awards-platform-recognizing-best-mobile-apps|title=GSF Announces "Mobile Appies" Awards, Platform For Recognizing Best Mobile Apps|date=2015-02-12|website=Inc42 Media|language=en-US|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023065436/https://inc42.com/buzz/gsf-announces-mobile-appies-awards-platform-recognizing-best-mobile-apps/|url-status=live}}</ref>
* Exchange4media Golden Mikes Award 2015<ref>{{Cite web|url=https://www.exchange4media.com/media-radio-news/hulmadison-mediao-mradio-city-win-big-at-golden-mikes-2015-59533.html|title=HUL, Madison Media, O&M, Radio City win big at Golden Mikes 2015 - Exchange4media|website=Indian Advertising Media & Marketing News – exchange4media|language=en|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023065423/https://www.exchange4media.com/media-radio-news/hulmadison-mediao-mradio-city-win-big-at-golden-mikes-2015-59533.html|url-status=live}}</ref>
* CMO Asia Awards 2015<ref>{{Cite web|url=https://www.cmoasia.org/cmo-asia-awards.html|title=CMO Asia Awards|website=www.cmoasia.org|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023065425/https://www.cmoasia.org/cmo-asia-awards.html|url-status=live}}</ref>
* BAM Award 2015<ref>{{Cite web|url=http://indianconventions.blogspot.com/2015/11/|title=Indian Conventions Awards|language=en-GB|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023065426/http://indianconventions.blogspot.com/2015/11/|url-status=live}}</ref>
* Excellence in Operations - Iconic IDC Insight Award 2015<ref>{{Cite news|url=https://www.business-standard.com/article/news-ani/hdfc-life-launches-new-click-2-protect-3d-plus-118082101020_1.html|title=HDFC Life Launches New Click 2 Protect 3D Plus|last=ANI|date=2018-08-21|work=Business Standard India|access-date=2019-10-23|archive-date=22 October 2019|archive-url=https://web.archive.org/web/20191022095900/https://www.business-standard.com/article/news-ani/hdfc-life-launches-new-click-2-protect-3d-plus-118082101020_1.html|url-status=live}}</ref>
* Emerging Star Award - BML Munjal Award 2017<ref>{{Cite web|url=http://www.bmlmunjalawards.com/2017/index.aspx|title=BML MUNJAL AWARDS|website=www.bmlmunjalawards.com|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023065424/http://www.bmlmunjalawards.com/2017/index.aspx|url-status=live}}</ref>
* Insurance Innovation Award 2018 - The Digital Insurer Global Livefest Award<ref>{{Cite web|url=https://livefest2018.the-digital-insurer.com/insurance-innovation-winners/|title=Insurance Innovation Winners|website=TDI Livefest 2018|language=en-AU|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023065422/https://livefest2018.the-digital-insurer.com/insurance-innovation-winners/|url-status=live}}</ref>
* Best Insurance Tech - IAMAI India Digital Awards 2018<ref>{{Cite web|url=https://www.iamaiida.in/Winners2019.php|title=IAMAI - India Digital Awards|website=www.iamaiida.in|access-date=2019-10-23|archive-date=31 May 2019|archive-url=https://web.archive.org/web/20190531091429/https://www.iamaiida.in/Winners2019.php|url-status=dead}}</ref>
* Best Marketing & PR Campaigns - India PR & Communications Awards 2018<ref>{{Cite web|url=https://e4mevents.com/iprcca-2018/public/winners.html|title=E4M events winners list|last=|first=|date=|website=e4mevents.com|url-status=live|archive-url=https://web.archive.org/web/20191023065426/https://e4mevents.com/iprcca-2018/public/winners.html|archive-date=23 October 2019|access-date=2019-10-23}}</ref>
* Best Content in Online PR Campaign - Drivers of Digital - Inkspell Awards 2018<ref>{{Cite web|url=https://www.dodawards.in/dod-2018/|title=Dod 2018|website=DOD Awards|language=en-US|access-date=2019-10-23|archive-date=29 September 2020|archive-url=https://web.archive.org/web/20200929005315/https://www.dodawards.in/dod-2018/|url-status=live}}</ref>
* Best Consumer Awareness Campaign - Silver -Economic Times Brand Equity Kaleido Award 2019<ref>{{Cite web|url=https://brandequity.economictimes.indiatimes.com/kaleido/winners|title=Kaleido Awards {{!}} ET BrandEquity|last=www.ETBrandEquity.com|website=ETBrandEquity.com|language=en|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023065426/https://brandequity.economictimes.indiatimes.com/kaleido/winners|url-status=live}}</ref>
* Best bank in Fintech - Financial Express Best Bank 2019<ref>{{Cite web|url=https://www.financialexpress.com/fe-best-banks/fe-best-banks-awards-celebrating-the-very-best-banking/1439277/|title=FE Best Banks Awards: Celebrating the very best of banking|date=2019-01-10|website=The Financial Express|language=en-US|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023065425/https://www.financialexpress.com/fe-best-banks/fe-best-banks-awards-celebrating-the-very-best-banking/1439277/|url-status=live}}</ref>
* Leading Fintech Innovator in India - KPMG-H2 Ventures Report<ref>{{Cite web|url=https://home.kpmg/content/dam/kpmg/at/pdf/presse/fintech100-2018-report.pdf|title=fintech100 2018 report|access-date=2023-05-11|archive-date=21 September 2019|archive-url=https://web.archive.org/web/20190921142235/https://home.kpmg/content/dam/kpmg/at/pdf/presse/fintech100-2018-report.pdf|url-status=live}}</ref>

==Controversies==
In early 2019, Policybazaar filed an intellectual property case against insurance company [[Acko General Insurance]] and Coverfox Insurance Broking Private Limited for trademark infringement.<ref>{{Cite web|url=https://inc42.com/buzz/court-slaps-inr-10-lakh-fine-on-policybazaar-in-trademark-infringement-case-against-acko|title=Court Slaps INR 10 Lakh Fine On PolicyBazaar In Trademark Infringement Case Against Acko|date=2019-06-05|website=Inc42 Media|language=en-US|access-date=2019-10-23|archive-date=23 October 2019|archive-url=https://web.archive.org/web/20191023070126/https://inc42.com/buzz/court-slaps-inr-10-lakh-fine-on-policybazaar-in-trademark-infringement-case-against-acko/|url-status=live}}</ref><ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/banking/finance/insure/hc-imposes-rs-10-lakh-cost-on-policybazaar-for-concealing-facts-to-obtain-interim-order/articleshow/69651079.cms|title=HC imposes Rs 10 lakh cost on Policybazaar for concealing facts to obtain interim order|date=2019-06-04|work=The Economic Times|access-date=2019-10-23|archive-date=27 September 2019|archive-url=https://web.archive.org/web/20190927154150/https://economictimes.indiatimes.com/industry/banking/finance/insure/hc-imposes-rs-10-lakh-cost-on-policybazaar-for-concealing-facts-to-obtain-interim-order/articleshow/69651079.cms|url-status=live}}</ref>

In May 2021, the [[Insurance Regulatory and Development Authority|Insurance Regulatory and Development Authority of India]] (IRDAI) imposed a fine of {{INRConvert|24|l}} on Policybazaar for flouting norms related to [[SMS]] advertising.<ref>{{cite web|title=Policybazaar fined R.s. 24 lakh for flouting IRDAI's SMS ad rules|url=https://economictimes.indiatimes.com/tech/startups/policybazaar-fined-rs-24-lakh-for-flouting-irdais-sms-ad-rules/articleshow/82802221.cms|website=The Economics Times|publisher=Rahul Awasthi|access-date=20 May 2021|archive-url=https://web.archive.org/web/20210520145006/https://economictimes.indiatimes.com/tech/startups/policybazaar-fined-rs-24-lakh-for-flouting-irdais-sms-ad-rules/articleshow/82802221.cms|archive-date=20 May 2021|url-status=live}}</ref>

On 25th July 2022, Policybazaar [https://www.livemint.com/companies/news/it-system-compromised-says-policybazar-authorities-informed-11658707082611.html acknowledged] that there had been a data breach, resulting in over 50 million user data records being leaked. Cyberx9 [https://www.cyberx9.com/china-policybazaar-millions-customers-defense-data-exposed-blog reported] that they identified the vulnerabilities, which seemed like “intentional backdoor vulnerabilities”, which “did not get fixed until 7 days even though it would take about an hour to fix them”.

On 6th Dec 2023, Policybazaar Sends [[Defamation]] Notice To Insurance Review Platform Beshak.<ref>https://www.freepressjournal.in/business/beshakorg-responds-to-policybazaar-legal-notice-founder-mahavir-chopra-reaffirms-commitment-to-unbiased-content-freedom-of-speech</ref><ref>https://www.medianama.com/2023/12/223-policybazaar-defamation-notice-beshak/</ref><ref>https://www.crunchbase.com/organization/policybazaar/signals_and_news</ref>

== References ==
{{reflist}}

==External links==
*[https://www.policybazaar.com/ Official website]
*[https://www.policybazaar.ae/ PolicyBazaar UAE]

[[Category:Indian companies established in 2008]]
[[Category:Financial services companies established in 2008]]
[[Category:Online financial services companies of India]]
[[Category:Insurance companies of India]]
[[Category:Companies based in Gurgaon]]
[[Category:2008 establishments in Haryana]]
[[Category:2021 initial public offerings]]
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