Policybaazar eyes Rs 700 cr revenue in FY19

Insurance web aggregator Policybaazar.com is eyeing a revenue of Rs 700 crore in the current financial year, double of what achieved in the last fiscal.

In the last fiscal, the company earned a revenue of Rs 350 crore, a company official said.

"We are growing at a rapid pace and all the insurance companies including the LIC are on our platform. The expected revenue this fiscal is Rs 700 crore", head (communications) of Policybaazar Aman Dhall said Thursday.

He said the other business vertical, paisabazaar.com, also a web aggregator for banking products, was gaining in strength and the revenue generated was expected to surpass that of Policybazaar in the next two to three years.

Dhall said the company was luanching a new product similar to that of Practo, online doctors' directory.

"Named Docprime, this new platform would be subscription-based OPD model where doctors' consultations can be availed of by giving a monthly fees," he said.

He did not rule out the possibility of raising funds for this new venture.