Policybazaar.com forays into insurance brokerage, opens 15 retail stores
Driving web aggregator Policybazaar on Friday said it has left its protection broking venture with 15 outlets and plans to grow it to 100 areas.
As of late, protection controller IRDAI supported protection broking permit proposition of the organization and will attempt business including protection collection under the broking umbrella.
With this turn of events, the organization gave up its web aggregator permit to Insurance Regulatory and Development Authority of India (IRDAI).
The organization is carrying out extensive designs for different fragment including quickly developing little and medium-sized undertakings (SMEs) to serve clients better by having a disconnected presence, Policybazaar.com said in an explanation.
As an initial step, the organization is dispatching disconnected retail locations across India, it said, adding, the brand has set up 15 stores and will ultimately extend to 100 areas.
The physical stores will fill in as experience places for clients and give them the solace of a nearby actual presence to help settle any questions or administration demands, it said.
Through the stores, clients will approach Policybazaar's exclusive correlation motors that will assist them with picking the right protection item, improve their capacity to analyze numerous items, all supported by a consistent start to finish innovation in the protection venture, it added.
To drive the business, the organization has roped in previous chief head of SBI Life Insurance Rajiv Gupta to lead its development plans in the disconnected space.
Remarking on the development, Policybazaar.com CEO Yashish Dahiya said 'we were unable to have done equity to our target of expanding India's protection infiltration levels with online channels alone. We are happy to have the option to offer more items and our administrations with expanded protection answers for those more alright with actual gatherings and disconnected stores.' Policybazaar as a merchant can now likewise give its current and new clients on-ground claims support, he said, adding, the organization through its disconnected presence expects to oblige this market by offering clients moderate, solid, and practical protection items.
The parent organization PB Fintech likewise advances Paisabazaar.com, which is an online credit correlation entry.
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