Nov 21, 2019: Gurugram, Haryana, India: PolicyX.com – One of the leading bootstrapped online insurance web aggregators celebrated its 6th year anniversary on 19 November 2019. It reported 50% growth in manpower – a rare feat at a time when the industry is struggling for growth.
On 19th November, the company celebrated its 6th annual day with it’s 260+ strong team. At the start of its 6th year, the company signed up Virender Sehwag as its brand ambassador. CEO, Naval Goel mentioned that they have also started a new office in Indore location. The company said that they want to start delivery centers in multiple locations across India.
This is indeed a rare feat for an industry marred by various challenges including regulatory restrictions, High customer acquisition costs and above normal attrition rates. “We have been able to achieve this performance only because of high customer centricity and focus on cost efficiency. We now get more than 30% of our business through references and have more than 85% retention rates for a product like health insurance,” says Goel.
PolicyX.com was started by Naval Goel in November 2013. It got the approval by IRDA in August 2014. During one of his consulting assignments in the US, Naval had a stint with AIG. That is where he started comparing the Indian market with developed markets and decided to come back and start PolicyX.com to enable digitization of the insurance industry. The company was recently awarded “Company of the Year” by Business Connect. Naval Goel was named “CEO of the Year – Web Aggregator” by Insurance Conclave last month.
Bhawna Sharma (AVP – PolicyX.com), said, “It feels great to be associated with an organization almost since inception and witness all the efforts put and progress made throughout these years. How the entire core team has contributed to the success by paying attention to the smallest of details is remarkable. People feel valued when they are heard and their ideas are implemented, I have been practically experiencing it at PolicyX.com.”
The team of PolicyX.com believes in offering trustworthy services. The company uses complex algorithms to find plans that fit customer requirements and provides live quotes, dynamic cash flow charts (first in the segment), videos and infographics within seconds, thereby helping them make an informed choice. All of this is supported by a team of trusted advisors that help customers make the right choice.
