Striking gold: A year of diversification for PolicyBazaar and entry into the ‘unicorn’ club
PolicyBazaar made headlines in 2018 by achieving ‘unicorn’ status – a valuation of over $1 billion. The company, which celebrated its 10th anniversary this year, started its journey as an information portal on insurance and available schemes and has come a long way since then.
Currently, it claims to process 100 million visitors in website traffic per year. The online insurance startup is targeting 10 million transacting customers by 2020, and the company’s progress this year actually shows how it is inching closer towards that goal.
It also diversified into the healthtech/telemedicine space with its new venture, docprime.com. Yashish Dahiya, Co-founder and CEO of PolicyBazaar, told YourStory earlier this year that the focus would be on scaling docprime.com, with $100 million assigned to it for the next two years. In September, the parent company gave it a $50 million boost.
Earlier in the year, parent company ETechAces Marketing and Consulting swung to a loss for FY 2018, mainly on account of a tax liability. In FY2017, it had posted a profit of Rs 7.31 crore
YourStory presents a timeline of PolicyBazaar’s journey in 2018.