Policybazaar reveals business tricks to stay ahead丨Top Talk - UC x Policybazaar
Tarun Mathur, Co-founder & CBO of Policybazaar.com talks about what Indian consumers really look for when buying an insurance, and how he has helped grow the business
It’s been one year since Policybazaar joined the unicorn club. Trying to be the customer champion, Policybazaar listen to customers’ needs and provide the right product. “We don’t think for customers. We want to focus on what customers want, we’re not trying to assume what a customer needs,” says Tarun Mathur when asked about the key business strategies to crack the Indian insurance market. “While other organizations are concerning how much commission or profit they can have, Policybazaar is concerning about how many users we’re able to help,” he added.
The most common mistake Mathur has heard when customers choose insurance plans is that they tend to listen to someone who bought insurance before. Mathur explains that an insurance company build various products based on different persona. Customers have to ask questions and choose products that fit their nuclear needs before making a purchase.
When talking about the biggest challenge as top leadership, Mathur spoke about the variety of the market. The ability of forecasting, in this case, makes it the key element of insurance business.
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