wordpress blog stats
Connect with us

Hi, what are you looking for?

PolicyBazaar Shutters Agent Platform PolicyDeals.co.in

policybazaar

PolicyBazaar.com, which raised $5 million in funding recently from Inventus Capital and Info Edge, has shut down its insurance agent platform PolicyDeals. PolicyDeals helped insurance agents source leads from their preferred city and location, to sell more leads. An alert reader wrote in to us saying that the company had taken the site down, and was refunding unutilized money to agents, adding that this would affect agents, and that it is “bad news specially if the market leader in online lead aggregation makes such a move.”

policydeals

We checked with Yashish Dahiya, CEO and founder of PolicyBazaar on the reason behind shutting PolicyDeals, and he wrote back saying that the company had received complaints from customers over agents following up aggressively, and wanting more control around permission based calling. PolicyBazaar shut down PolicyDeals on the 3rd of April this year, and they will relaunch it only when they feel they have better control. His statement:

“We received a few customer complaints that agents were following up aggressively, and they suggested more control around permission based calling, so we have closed this from 3rd April this year, and will only return once we are confident we can enforce service levels, and protect consumer privacy.”

In any case, PolicyBazaar has moved away from being primarily a web aggregator. Dahiya had recently told MediaNama that 85% of their revenue now comes from their call center operation, even though they have a web aggregator business, and a subsidiary which does insurance comparison.

Read:
How PolicyBazaar.com Changed It’s Business Model After IRDA Regulations
Policybazaar.com Raises $5 Million From Inventus Capital, Others

You May Also Like

News

The Indian government has amended the internet shutdown rules, formally known as the Temporary Suspension of Telecom Services Rules, to restrict the validity of...

News

You’re reading it here first: A group of about one hundred internet companies wants the Indian Broadcasting Foundation to review an advertisement policy which...

News

Rajasthan suspended internet in four districts — Dungarpur, Udaipur, Banswara and Pratapgarh — on Saturday after violent protests erupted in Dungarpur district on Thursday...

News

Life and general insurance companies can now use video KYC to onboard customers and verify their documents, in light of the pandemic. This follows...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ