Policybazaar, India’s insurance marketplace, just switched gears – moving into reinsurance across Sri Lanka, Qatar, Oman, and the UAE.
It’s one of the first India-based intermediaries to roll out a technology-driven reinsurance platform across Asia and the Middle East, markets that keep growing but still lag in efficiency and underwriting capacity.
The company said this push meets rising demand for smarter, faster, more transparent reinsurance in regions hungry for data-backed decisions. It’s about clearing out legacy clutter and plugging gaps where coverage for cyber or climate risk is still paper-thin.
The new platform pulls together analytics, actuarial science, and years of distribution experience into a single digital system.
It delivers quicker facultative and treaty placements across property, marine, liability, cyber, and climate-linked risks. And it does so with sharper underwriting discipline – no more slogging through manual approvals.
We think that means insurers finally get a clean look at risk data instead of piecemeal reports and backroom negotiations. It’s the kind of shift that can shave weeks off placement cycles.
Policybazaar says the system helps carriers get better pricing, speed, and visibility.
Regionally, the company’s timing fits.
- Sri Lanka’s insurance sector posted LKR 280.1 bn in GWP last year, up 40% since 2019, with cyber risk now on every board agenda.
- In Oman, insurers booked OMR 609 mn in 2024. Qatar’s expanding beyond its energy-heavy base into health and specialty lines.
- The UAE remains a powerhouse, with AED 64.8 bn in GWP and $3.5 bn in (re)insurance premiums from the DIFC in 2024 alone.
Tarun Mathur, co-founder and chief business officer for corporate insurance and reinsurance, said the move answers what today’s insurers actually need.
Reinsurance has long been about old networks, not innovation. But climate shocks, systemic cyber threats, economic swings – they’ve changed the game. Insurers need clarity, speed, and data, not just capital
Tarun Mathur, co-founder of Policybazaar
He added that Policybazaar’s reinsurance tech cuts friction and builds transparency. “Sri Lanka, Qatar, Oman, and the UAE all prize efficiency and innovation. This is more than a footprint – it’s the start of a pan-Asian, tech-powered reinsurance network.”
We think this play says a lot. Policybazaar’s betting that the next big reinsurance advantage won’t come from balance sheets – it’ll come from code.
Policybazaar was founded in 2008 in Gurgaon, Haryana, India by Yashish Dahiya, Alok Bansal and Avaneesh Nirjar.
Initially it operated as an online aggregator/price-comparison portal for insurance products; over time it evolved into a full-scale digital insurance broking / distribution model.
It is part of parent company PB Fintech Ltd. (formerly ETechAces) which also controls other financial-services marketplaces (e.g., Paisabazaar). The company remains a major player in India’s digital insurance distribution market, claimed to handle large volumes of traffic and policy transactions.
The platform allows customers to compare and purchase life, health, motor and other general insurance products online. It has since expanded operations geographically (outside India) and into broader segments of insurance and adjacent services.
For FY2025 (year ended March 2025) PB Fintech reported a net profit of Rs 353 crore, up 448% year-on-year, driven by robust insurance growth.
In March 2025 it was reported that the company has raised cumulative funding north of $942 mn across 12 rounds.
- In May 2020, Policybazaar secured roughly $200 mn in funding from SoftBank Vision Fund, a move that positioned the InsurTech for rapid expansion in India’s digital insurance and adjacent financial services markets. The investment came as the platform was scaling its brokerage operations and deepening partnerships across health, life, and motor segments.
- Earlier, between 2014 and 2018, Policybazaar completed several funding rounds, including around $20 mn in 2014 and another $40 mn in 2015, followed by later Series C and D rounds in 2018. These injections, according to industry sources such as Insurnest, fuelled the company’s technology build-out, marketing reach, and early customer acquisition push during India’s first big InsurTech wave.
- By July 2024, Policybazaar appeared in post-IPO or secondary funding reports from Inc42, signalling that the company continued to attract investor interest even after listing publicly. The capital flow reflected a shift toward reinforcing its market position in a now-competitive digital insurance environment rather than simply chasing growth at all costs.
- In May 2025, the parent company PB Fintech announced a new healthcare arm, PB Health, which raised about $218 mn. While that raise didn’t directly fund Policybazaar’s core insurance business, it showed the group’s intent to build a wider ecosystem spanning insurance, health services, and financial technology.
The diversification reinforced PB Fintech’s strategy of cross-linking digital platforms and expanding beyond distribution into broader consumer finance and wellness domains.
