Money & Banking

Policybazaar aims to settle claims easily by deploying foot-soldiers

Priyanka Pani Mumbai | Updated on March 27, 2019 Published on March 27, 2019

In a bid to assist its customers during the time of claim settlement, online insurance marketplace Policybazaar.com plans to deploy around 150 foot-soldiers across 100 cities in the next six months.

Under the PB Health Buddy initiative, Policybazaar will provide assistance to customers undergoing medical treatment, and help them in the claim-settlement process. The company plans to invest ₹10 crore under this initiative, where it will provide on-ground support to its customers at hospitals. Policybazaar has tied up with more than 1,000 hospitals across the country.

Amit Chhabra, Business Head, Health Insurance, Policybazaar.com, told BusinessLine that these foot-soldiers, or PB Buddies, are medical experts well-versed with hospital and insurance processes.

“They will assist our clients from the start to the finish, involving all medical formalities in the approval of a claim by talking to the insurance companies or by understanding details from doctors,” he said, adding that apart from the challenges of standing in long queues in hospitals for medicines and documentation, patients often have difficulty in understanding complicated medical reports.

Chhabra added that with this initiative, Policybazaar.com aims to tap 20 per cent of India’s health insurance market in the next three years. At present, it claims to be the largest player in the online health insurance domain, with a market share of 8 per cent of India’s retail health insurance market. “We are growing more than five times, compared to the overall market,” he said.

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Published on March 27, 2019
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