Policy Bazar is confident of maintaining 30% growth rate on the basis of better services: co-founder Alok Bansal

On the purview of the health insurance industry in India, Bansal said that there is a difference in the region and therefore, it is ready to expand.

“In any developed country, you will find that about 30 to 40% (insurance claim) is paid by insurance companies. If you look at Indian numbers, we will see that insurance companies are paid between 2% to 3%, ”he said.

“Therefore there is a huge delta in terms of where we can be from the perspective of health insurance. Term insurance, again, is very low. So there is scope for the growth of the industry, ”said the co-founder of PB Fintech.

He said that this landscape can be beneficial for the policy market, which can lead to the target increase of the company.