Policybazaar improves revenue share from new business lines
28 October 2024
Policybazaar India, which operates in the UAE under PB Fintech, is rapidly increasing its revenue share from new business lines as it expands beyond being solely a consumer-focused online insurance distribution platform.
In the previous year's fourth quarter, revenue from these new initiatives rose by 137%, reaching ₹154 crore ($18.77 million). In the most recent quarter, PB Fintech reported a total operational revenue of ₹869 crore, a 60% increase from ₹540 crore the year before. The share of overall revenue from new initiatives has grown from approximately 28% to 42% within a year.
According to PB Fintech, the new initiatives at Policybazaar are performing well. Losses in this segment decreased to ₹36 crore in the last quarter, down from around ₹90 crore in the fourth quarter of the previous year.
Policybazaar India, which operates in the UAE under PB Fintech, is rapidly increasing its revenue share from new business lines as it expands beyond being solely a consumer-focused online insurance distribution platform. In the previous year's fourth quarter, revenue from these new initiatives rose by 137%, reaching ₹154 crore ($18.77 million). In the most recent quarter, PB Fintech reported a total operational revenue of ₹869 crore, a 60% increase from ₹540 crore the year before. The share of overall revenue from new initiatives has grown from approximately 28% to 42% within a year. According to PB Fintech, the new initiatives at Policybazaar are performing well. Losses in this segment decreased to ₹36 crore in the last quarter, down from around ₹90 crore in the fourth quarter of the previous year.
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