PB Fintech: Building India’s Trust-First Insurance & Healthcare Ecosystem

PB Fintech’s Ambitious Vision

PB Fintech, the parent company of Policybazaar and Paisabazaar, is actively establishing a trust-first ecosystem within India’s financial sector, with a keen focus on insurance and healthcare. This strategic push aims to extend financial access to an additional 30% of the Indian population, roughly half a billion people, by 2047.

Chairman and Group CEO, Yashish Dahiya, highlighted India’s low penetration of risk-based financial products, currently at 3% of the population.

• Goal: Extend financial access to an additional 30% of the population (approx. 500 million people).
• Timeline: Achieve this expansion by 2047, aligning with India’s developed economy vision.
• Healthcare Target: PB HEALTH aims to serve 40 million health insurance customers by 2030-31.

Data-Centric Approach to Risk

The expansion will be driven by a data-centric approach to risk assessment, moving away from traditional institutional capacity models. A core focus is on building trust in insurance by ensuring claims are honored and products are tailored to individual needs.

This contrasts with a generic sales approach, prioritizing product suitability and consumer confidence.

Integrated Healthcare Networks

PB Fintech’s venture into healthcare through PB HEALTH aims to create integrated networks. These networks will align the interests of insurers, hospitals, and patients, fostering a more cohesive and trustworthy system.

The overarching objective is to establish a financial system grounded in data, product suitability, and enduring trust across insurance and healthcare.