Yash Dahia, Chairman and CEO, said IPO-related PB Fintech, an online financial services marketplace focused on insurance, plans to open small management offices as part of its efforts to improve market share and make its online model more successful.
“The goal will be to increase conversion rates for online customers. Our business model is not limited to setting up a branch. We do not set up branches in high demand areas. We do not set up retail stores. They will be small service offices and administrative offices that will deliver customers in drawing rooms or canteens. their offices,” business line.
He also made it clear that this should not be seen as a strategic shift for the digital company. “We will continue to acquire customers through the website and app. But those are the customers who need some hand holding. So far we have provided that from the call center. Now, we will have our people on the ground doing it from physical centers. If we don’t, it will be Our premium in five years is much lower than if we were going to.From an overall profitability perspective, the margin will be cumulative.
Alok Bansal, full manager and finance manager, said having a local person would give the online customer more convenience because one speaks to a local agent in their own language. “They will feel like I went to the website and also get local support to boost what I got online,” he noted.
In fiscal year 2020-21, Policybazaar, India’s largest digital insurance marketplace, has clocked a round-the-clock premium of Rs 4,700 crore (new and renewals) from its platform.
Initial public offering of €5,710 crore on November 1
PB Fintech, which owns Policybazaar and digital consumer credit marketplace Paisabazaar, is launching its initial public offering (IPO) of Rs 5,710 crore on November 1.
Meanwhile, asked which of the two – Policybazaar or Paisabazaar – will be the main driver of PB Fintech’s growth in the coming years, Dahia said he did not want to compare the two and added that both would have their own spaces.
Al-Dahiya said that the company’s efforts to focus on companies (including small and medium companies), points of sale and physical presence are expected to help it expand its business in the coming days..
Regarding international expansion, he said the company now has a presence in Dubai and sees a lot of potential for growth in the UAE. Going forward, he added, one might even consider entering other geographies including Europe and Southeast Asia.
Dahia also said that PB Fintech may in the coming days consider creating an investment platform for mutual funds, but he quickly indicated that its board of directors has not made any specific decision on this front.