PolicyBazaar, a Gurgaon-India-based online insurance comparison site that assists customers in making informed decisions about their insurance purchase, has received an equity investment of undisclosed amount from Intel Capital.
The company intends to use the funds for building brand awarness and further enhancing its technology platform and product depth.
PolicyBazaar’s mission is to make buying insurance easy enabling customers to get free insurance quotes, compare plans based on their premium and features side-by-side. the web site offers a wide variety of insurance plans comprising of both life and general insurance. Users can compare Pure Protection, Pension Child and Investment Plans, as well as Car insurance, Travel insurance and Home Insurance products.
It also includes financial services including personal loans and home loans.
The investment was made via the US$250m Intel Capital India Technology fund established in 2005.
FinSMEs
25/05/2011
LIC or the Life Insurance Corporation of India is an entirely government owned entity and enjoys the position of being India’s largest insurance company apart from being nation’s biggest investor. LIC was incorporated in 1956 and has been functioning pretty consistently.