PolicyBoss

PolicyBoss is a leading insurtech company operating as a direct insurance broker specializing in comparative insurance distribution across retail and corporate segments. The company combines transparent online insurance comparison platforms with hands-on advisory services and a large distribution network of POSP agents to democratize insurance access and simplify customer purchasing experiences across India.

Core Products & Services

• Health Insurance Plans: Comprehensive family and individual health insurance policies covering hospitalization, OPD treatment, critical illness coverage, and optional add-ons; partnerships with 7,600+ pan-India cashless network hospitals

• Motor Insurance: Car insurance, two-wheeler insurance, and commercial vehicle insurance with comprehensive coverage, third-party liability, add-ons like roadside assistance, nil depreciation coverage, and return-to-invoice options

• Life Insurance Products: Term life insurance, endowment plans, group life insurance, pension/annuity products, child insurance, and investment-linked insurance plans

• Travel Insurance: Domestic and international travel insurance policies covering medical emergencies, trip cancellation, baggage coverage, and personal accident protection

• Commercial Lines Insurance: Business liability insurance, property insurance, marine insurance, cyber insurance, indemnity insurance, and specialized commercial vehicle insurance

• Online Comparison & Quote Platform: Aggregated comparison platform providing quotes from 40+ insurance companies across all product categories enabling instant policy comparison and purchase

• AI-Powered Digital Tools: AI-driven conversational bots for customer onboarding, intent-based personalization, and industry-first "Live Brokerage" feature displaying real-time commission earnings for agents

• Claims Management Services: Dedicated in-house claims team providing 24/7 customer support, claim assistance, and expedited claim settlement processes

• POSP Agent Distribution Network: Digital-first platform for Point-of-Sale Person agents enabling policy sales through integrated mobile apps and web interface with instant commission payments (InstaPay) and learning management systems

Business Model & Revenue Streams

Business Model – Multi-Channel Insurance Distribution with Hybrid B2C and B2B2C Model

• Transformed from traditional B2C insurance broker to B2B2C model with 80-90% of business now driven through POSP agent network

• Three primary distribution channels: Direct-to-consumer online platform (PolicyBoss.com), 30+ physical broker offices across 25 cities, and 800+ partner network locations nationwide

• Centralized technology infrastructure serving as middleware connecting website, mobile app, LMS, CRM, ERP, and back-office systems for seamless agent and customer operations

• Digital-first operations with 85%+ online business execution enabling high scalability and operational efficiency

• AI-driven personalization and automation reducing customer acquisition costs and enhancing conversion rates

• Insurance Brokerage Commissions: Primary revenue from comparative distribution across 40+ insurance partners generating commissions on policy placements across health, motor, life, travel, and commercial lines

• POSP Agent Commission Revenue: Distributed revenue model where agents earn commissions per policy sold; company retains portion of distribution margins from agent-generated policies

• Agency Network Expansion Revenue: Growing revenue stream from expanding POSP agent base (currently 80-90% of business volume) enabling exponential policy volume growth

• Digital Platform Revenue: Technology-enabled distribution driving industry-leading metrics with daily online policy volume growing from 500 to 1,500+ policies (post-June 2024 feature launches)

• B2B Partnership Commissions: Institutional partnerships with banks, fintech platforms, and enterprise clients generating bulk insurance referral commissions