Categories: Business

Policybazaar gets insurance broking licence

Policybazaar has got approval from regulator IRDAI to undertake insurance broking, a development that will help the company augment business and expand its bouquet of services. With this development, the company will surrender its web aggregator licence to the Insurance Regulatory and Development Authority of India (IRDAI) and undertake business including insurance aggregation under the broking umbrella.

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The broking licence will allow the company to venture into segments which it could not do in the past like claims assistance, offline services, and establish Points of Presence network. Policybazaar has a market share of 25 per cent in the life insurance segment while 10 per cent in health insurance.

Important takeaways for all competitive exams:

Policybazaar CEO: Yashish Dahiya;
Policybazaar Founded: June 2008;
Policybazaar HQ: Gurugram, Haryana.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.