Policy Bazaar IPO — Live GMP, Review & Important detail 2021

Policybazaar.com is now India’s largest insurance provider and a global leader in fintech. Even today, the goal remains the same: Client First and Long-Term Profitability for the overall insurance ecosystem. Policy Bazaar IPO Will hit the market in 2021.

When 8 million insurance customers and 40+ insurers trade a few lac crores of insurance cover and a few 1000 crores of insurance premium with full trust on a website annually, it’s a delicate balancing act.

As per people familiar with the scenario they expect to file a draft prospectus as early as May 2021 for their initial public offering (IPO), which could secure $500 million.

Insurance Sector till 2008

Insurance buyers in India were having a difficult time in 2008. Insurance firms profited from policy surrender fees, and the market as a whole was mired in obscurity.

There was a lack of product awareness, accountability was lacking, mis-selling was common, insurance plans were lapsed at a high rate, and customers had a general apathy toward the insurance sector.

Journey

That’s when a small group of people with no prior experience in the insurance industry began re-imagining what the industry might be.

They envisioned a place where customers could find fully straightforward insurance details as well as the ability to study and review insurance plans so that they could purchase exactly what they wanted.

In a product as complicated as insurance, a location where all conversations must be registered such that there would be a straightforward audit trail on who said what.

A location that served as a shared service layer for all customer claims and services. This diverse group of individuals began their journey through what is now Policybazaar.com with this lofty target as their life goal.

Promoters

• Soft bank Group
• True North
• Icp investments (mauritius) limited
• Tiger Global Management
• Info Egde India Ltd
• Premji Investment
• Temasek
• Steadview Capital Management
• Ribbit Capital
• Chiratae Ventures

Originally published at https://profitmust.com on April 10, 2021.