Policybazaar
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Founders
· Founded 2008 · Gurugram, Haryana, India
In 2007, Yashish Dahiya—a decorated triathlete with degrees from IIT Delhi, IIM Ahmedabad, and INSEAD who had worked as Managing Director of ebookers.com in London—returned to India to spend time with family. While reviewing his retired father's financial portfolio, Dahiya was shocked to discover that his father had been swindled by commission-hungry insurance agents. The agents had tricked his father into investing millions of rupees into opaque unit-linked insurance plans (ULIPs), churning the policies every three years to generate high upfront agent commissions while obliterating his father's retirement corpus. Furious, Dahiya realized that millions of middle-class Indian families were being systematically defrauded by traditional insurance agents. Partnering with fellow finance executive Alok Bansal, Dahiya founded Policybazaar in June 2008. Starting out of a small office in Gurugram with just fourteen employees, Policybazaar initially operated as a pure price-comparison and educational website. Traditional insurance companies threatened legal action and refused to share their policy rates, but Dahiya stood firm, publishing accurate comparisons and educating consumers on the virtues of pure protection term life insurance. In 2011, Sanjeev Bikhchandani's Info Edge invested early growth capital, providing the resources for Policybazaar to secure an insurance broking license and build India's premier digital financial powerhouse.
Policybazaar was founded in 2008 by Yashish Dahiya, Alok Bansal, Avaneesh Nirjar in Gurugram, Haryana, India.
The founders established Policybazaar with the objective of solving core inefficiencies in InsuranceTech, Financial Technology, Digital Brokerage, Credit Marketplaces, Wealth Advisory & Consumer Internet, laying the foundation for its current global scale.
Even as Policybazaar scales to $550M, the organization maintains the founders' commitment to innovation and customer-centric execution.