PolicyX.Com

insurtechaggregators / policy management

FOUNDING YEAR: 2013
LOCATION: India
Last Update: 08/09/2020

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About

PolicyX.com is an IRDA approved insurance comparison portal helping consumers compare, choose and buy policies online. It provide health, motor, life, travel & corporate insurances from a wide range of insurers.

MEDICI Analysis

PolicyX.com is an IRDA approved insurance comparison portal helping consumers compare, choose and buy policies online. It provide health, motor, life, travel & corporate insurances from a wide range of insurers.

Focus

PRODUCTS & SERVICES

Insurance comparison portal- Helps in comparison & checking of insurance, saving money through online insurance. It also advises customers on which insurance product to go for as per their requirements and needs

REVENUE MODEL

Company generates revenue from product referrals when users buy any insurance products through PolicyX.com portal.

EXISTING PARTNERSHIPS

Religaire Life Insurance

Aviva

HDFC Life

Bajaj Allianz and many more

PRIMARY PROBLEM SOLVED

Provides related products and understanding to customers regarding the highly competitive and evolving online insurance landscape in India

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

COMMENT

The platform runs complex algorithms to find plans that fit the requirements of clients and return them features and quotes within seconds

Traction

REVENUE

$1.0M - $4.99M in 2016

REVENUE COMMENT:

We have experienced a stable growth in our revenue since our inception in 2013. This has led to an overall growth in terms of the volume of business that we have been doing with our partners and customers.

TRANSACTIONS COMMENT:

We have served over 2 million quotes till now.

ACTIVE USERS:

100000 Million in 2016

ACTIVE USERS COMMENT:

We have over 1 lac+ happy customers who have used our website for purchasing policy.

TRACTION COMMENT:

We have tie-ups with India's topmost financial insurance companies for providing various different products to our customers catering to their needs and requirements

People

NUMBER OF EMPLOYEES

51-200

COMMENT:

We have small team of around 20 individuals at our corporate office in Gurgaon,a larger team of around 80+ employees at our Kirti Nagar, New Delhi customer care center. The teams are a closely knit unit with each individual having a clarity regarding the role he/she needs to perform. A good work environment with freedom to showcase their core competencies without the usual hierarchical backlogs that you associate with bigger organisations is something that we have deliberately focused on achieving in our organisation. They can see their ideas getting implemented quickly,the impact they create on the company.

company provided insights

Momentum

FUNDED

NO

LISTED

NO

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Policyx.com

About

PolicyX.com is an IRDA approved insurance comparison portal helping consumers compare, choose and buy policies online. It provide health, motor, life, travel & corporate insurances from a wide range of insurers.

Focus

PRODUCTS & SERVICES

Insurance comparison portal- Helps in comparison & checking of insurance, saving money through online insurance. It also advises customers on which insurance product to go for as per their requirements and needs

REVENUE MODEL

Company generates revenue from product referrals when users buy any insurance products through PolicyX.com portal.

TOP PROBLEM SOLVED

Provides related products and understanding to customers regarding the highly competitive and evolving online insurance landscape in India

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

PRODUCT DEVELOPMENT COMMENT

We are an aggregator offering various different products to customers from segments like life and term insurance, health insurance, automobile insurance, travel insurance to name a few popular ones. Free comparison, minimum documentation and instant policy issuing are some of the key features of the portal

KEY DIFFERENTIATORS

To stand out, we offer an already existing product to our customers in a different manner by involving them in the entire process. A customer can go through innovative cash flow charts, videos and graphics apart from articles that are available on various topics to make them understand the plans better and make an informed choice. Our website UI is customer friendly and provides all the relevant information in a fluidic manner. Still, if the customer has any further query, he/she can call our customer care number and our support executives based out of our Kirti Nagar office takes care of any such query.

PRIMARY CUSTOMER TYPE

Consumer

Traction

ANNUAL REVENUE:

$1.0M - $4.99M

REVENUE COMMENT:

We have experienced a stable growth in our revenue since our inception in 2013. This has led to an overall growth in terms of the volume of business that we have been doing with our partners and customers.

TRANSACTIONS COMMENT:

We have served over 2 million quotes till now.

ACTIVE USERS/ACCOUNTS:

100000 Million

ACTIVE USERS COMMENT:

We have over 1 lac+ happy customers who have used our website for purchasing policy.

LIVE USERS/TRANSACTIONS:

Yes, in live production

How will you grow the number of users/accounts/transactions?

By continuing to offer them value based services, advise and guidance at every step of their insurance buying process.

CHANNEL STATUS

MULTIPLE CHANNELS

People

NUMBER OF EMPLOYEES

51-200

TEAM COMMENT:

We have a team of around more than 135 individuals at our corporate office in Gurugram. The teams are a closely knit unit with each individual having a clarity regarding the role he/she needs to perform. A good work environment with freedom to showcase their core competencies without the usual hierarchical backlogs that you associate with bigger organisations is something that we have deliberately focused on achieving in our organisation. They can see their ideas getting implemented quickly,the impact they create on the company.

Momentum

FUNDED

YES

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES