- A brand under Policybazaar Insurance Brokers drives 71% YoY growth in health insurance across Gujarat
- Tier 2 and Tier 3 cities like Ahmedabad, Rajkot & Vadodara are leading the charge with heightened insurance awareness among customers
- PBPartners, a market leader in Gujarat with an impressive base of 3,500+ agent partners; Ahmedabad alone has a solid network of 1,200+ POSP agent partners
NE BUSINESS BUREAU
AHMEDABAD, NOV 27
Post-COVID, health insurance awareness in India has seen significant growth. Within general insurance health insurance has emerged as the leading category commanding a substantial 41% of the industry’s total premiums. Industry experts attribute this to significant transformation in the insurance sector by blending traditional human-driven services with digital innovation. PBPartners, a brand under Policybazaar Insurance Brokers, is at the forefront of this approach. While the role of agent partners remains central to providing personalized support and guidance to customers, technology has made their work significantly easier, more efficient and rewarding. This is a win-win for customers to make health insurance claims seamlessly, said Neeraj Adhana, National Sales Head – Health Insurance, PBPartners here on Tuesday.
Speaking on the company’s ‘Ignition3.0’ training for Point of Sale Persons here, Neeraj Adahana,said, “With digital tools acting as an enablers, PBPartners ensures that agent partners can maintain their crucial human touch while benefiting from enhanced efficiency and improved service delivery. The digital transformation in the insurance sector is not just about optimizing internal processes—it has significantly improved the user experience as well. This change is particularly evident in Tier-2 and Tier-3 cities, where individuals often conduct their initial research online but still seek guidance from a physical intermediary before making a decision. PBPartners bridges this gap by offering a perfect blend of digital tools and personal interaction. Due to digitization, about 75 to 80 percent of our business is online and the rest offline.”
Talking about the phygital shift, Neeraj Adhana, said, “With the help of technology, like mobile apps, and AI-driven processes, we have been able to offer personalized solutions, simplify claims processes, and expand financial inclusion by overcoming geographical and infrastructure challenges. Advanced technologies, like AI and ML, enable insurers to craft hyper-personalized policies tailored to individual needs. This customer-first approach ensures that personalized attention and seamless service are top priorities.. By automating key processes, we have not only streamlined operations but also enabled our agent partners to spend more time focusing on client relationships.”
New trends and insurance buying behavior in Ahmedabad
Lately, there has been a significant increase in awareness around health insurance protection among people in Ahmedabad, Gujarat. The right blend of cutting-edge technology and the personal touch of agent partners has been a big contributor to the brand’s success in this region.
“The heightened awareness among the people of Ahmedabad has contributed to a significant surge in the adoption of health insurance policies. Over the past year, PBPartners recorded an impressive71% year-on-year growth in health insurance policies purchased in Gujarat. PBPartners is committed to further empowering agent partners and enhancing accessibility to quality health insurance solutions across tier 2 & tier 3 cities like Rajkot, Vadodara, Mehsana & Gandhinagar,” said Neeraj Adhana, National Sales Head – Health Insurance, PBPartners.”
Throwing light on faster and seamless claim settlement process, Neeraj Adhana, stated, “At PBPartners, ensuring a seamless and efficient process for claim settlements is a top priority. With a dedicated focus on this area, we are working hand in hand with our trusted agent partners in Ahmedabad to deliver on their commitment to providing customers with a hassle-free experience when it comes to claims. To smoothen the process, we have also established a dedicated claims team. This team focuses on immediate coordination between network hospitals and insurance companies, ensuring claims are processed promptly and efficiently. As a result of these efforts, around 95% of claims are successfully settled, reinforcing our dedication to customer satisfaction and trust.”
Gujarat expansion plan
Gujarat, as a key market, boasts an impressive 3,500+ agent partners, while Ahmedabad alone has a solid network of 1,200+ POSP agent partners—highlighting the region’s crucial role in driving insurance adoption across the West Zone. PBPartners is aiming to further strengthen its presence by increasing the number of agent partners in Ahmedabad to 2,000 by March 2025.
Increased earnings with PBPartners
PBPartners goes the extra mile to support its PoSP agent partners at every step. With comprehensive training, dedicated relationship managers, and innovative technology solutions, the team ensures agent partners have the tools they need for success. This collaborative approach has played a key role in helping agent partners significantly increase their earnings with PBPartners. Notably, PBPartners already has three Experience Centres in Ahmedabad, Vadodara, and Rajkot, with its first-ever Experience Centre inaugurated in Ahmedabad..
Customer satisfaction through simplified claims & renewal retention program
Neeraj further elaborated on PBPartners’ commitment to its agent partners through their Renewal Retention Program. “This initiative ensures that when a customer purchases a policy through an agent partner, the PoSP agent receives a timely commission each year upon the policy’s successful renewal. This program provides our agent partners with a stable, long-term income stream, just like a pension. It has not only strengthened their trust in us but also motivated them to elevate their performance”.
Industry-first innovation through On-Demand Payout
“With our On-Demand Payout feature, PBPartners proudly reports that 70% of agent partners receive their payouts on the same day. At the end of every day, agent partners can access their funds, highlighting the efficiency of this industry-first feature introduced in 2022,” added Neeraj.
