Companies

Customer service and claims experience will be key focus areas: PB Fintech

Surabhi | | Updated on: Nov 15, 2021

‘We are in no hurry to be profitable’

PB Fintech — the parent of online insurance and credit comparison platforms Policybazaar and Paisabazaar — will focus on improving customer service and claims experience and does not plan to chase profitability in the short term.

“We are looking at working on two areas — customer service and claims experience. Consumers should have a great experience at the time of onboarding and claims,” said Yashish Dahiya, Chairman and CEO, PB Fintech.

Considering acquisitions

In an interaction with BusinessLine post the company’s listing, Dahiya said the company will also consider investing in business and capabilities in these two areas, including acquisitions, if needed.

Also see: PB Fintech: No insurance against unfavourable risk reward at current levels

“If we have to invest in some business and capabilities, we will do that. A lot of things are required in that area, whether it is operational strength, access to data. We will do whatever it takes,” he said.

PB Fintech will be centred on strategy and growth and will not be profit oriented in the short term, Dahiya added.

“We are in no hurry to be profitable. Our core business is already profitable and we have no challenges there. There are a lot of experiments that we do which will strengthen the future of the business and we will continue to do that.

Also see: PB Fintech shares list with over 17 per cent premium

“I don’t think we will be in a short term hurry to be profitable. But in the longer term, we will be significantly profitable,” he said, adding that while the efficiency of the core business will keep improving, so will investments and experiments.

Offline stores

PB Fintech will also continue to focus on offline stores.

“The offline part started five months ago and I think it will become a meaningful part of the business,” Dahiya said.

Shares of PB Fintech listed with a premium of over 17 per cent against its issue price of ₹980 on Monday.

Published on November 15, 2021
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