The parent company of Indian online insurance marketplace PolicyBazaar has introduced a new venture in the United Arab Emirates. In an interview with Quartz, CEO and co-founder Rahul Sharma said that his startup is working on developing policies for individuals who are not covered by their country’s health care system. Initial products available through the platform include motor insurance and travel insurance. The firm says life insurance offerings will soon follow. PolicyBazaar is aiming to account for INR5bn ($69m) worth of underwritten premiums over the next three years in the UAE.
The parent company of Indian online insurance marketplace PolicyBazaar has introduced a new venture in the United Arab Emirates. The venture went live earlier this year and the company says it has sold 2,000 policies via 10 insurance partners during the online platform's beta phase. Initial products available through the platform include motor insurance and travel insurance. The firm says life insurance offerings will soon follow. PolicyBazaar is aiming to account for INR5bn ($69m) worth of underwritten premiums over the next three years in the UAE.