Policybazaar parent PB Fintech net profit rises 43% rise in Q2
The revenues for PB Fintech at the end of second quarter of FY27 stood at Rs 2178 crore which was an year-on-year growth of 35%
PB Fintech, the parent company of Policybazaar and Paisabazaar, announced a significant surge in profits for Q2 FY27. The digital insurance and credit aggregator firm reported a 42.5% increase in net profit, reaching Rs 192.4 crore, up from Rs 135 crore in the same period last year. Revenue for the quarter grew by 35% to Rs 2177.7 crore.
The company's core online insurance business saw a 42% year-on-year (YoY) growth, with new health insurance premiums rising by 46% YoY. PB Fintech processed a total insurance premium of Rs 9,385 crore, a 38% YoY increase. The company also disbursed Rs 4,739 crore in loans during the quarter.
PB Fintech has around 5.5 lakh insurance advisors, which grew by 1.3 lakh in Q2. These distributors played a crucial role in expanding insurance access, particularly in smaller towns and cities, contributing to 76% of the overall gross written premium for the quarter. However, the Insurance Regulatory Development Authority (IRDA) proposal to lower insurance agent commissions could impact the company's growth trajectory.
In leveraging artificial intelligence, PB Fintech processed 10 crore customer interactions daily, with 21 lakh calls handled by AI, all exceeding 60 seconds in talk time across seven Indian languages. The company processed 17 lakh minutes of conversation daily, achieving 8x deeper analysis with AI, saving 1,000 hours daily. AI-driven productivity improvements resulted in a 15% plus increase in insurance advisors' efficiency and a 20% boost in conversion rates.
Written by urgent.news from YourStory's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
