Key Points
PB Fintech on Friday said that its wholly-owned subsidiary Policybazaar Insurance Brokers has been granted in-principle approval from the insurance regulator to upgrade its licence, allowing its entry into the reinsurance business...
According to PB Fintech, the approval will allow Policybazaar to deepen the insurance penetration in the country and bring more technology, process control and data analytics based innovation into reinsurance capacity...
Insurance Regulatory and Development Authority of India (IRDAI) has granted In-principle approval to Policybazaar Insurance Brokers Private Limited (Policybazaar), a wholly owned subsidiary of the company for upgradation of license from direct insurance broker (Life and General) to composite insurance broker, said PB Fintech in a stock exchange filing on Friday evening...
The upgradation of licence now allows Policybazaar to undertake a wider gamut of services such as risk management, selling reinsurance products and maintaining claims data, apart from just being a pure play insurance buying platform...
