Policybazaar

“So, actually, if you're telling me policy will succeed because of us, that's not true. They were going to succeed anyway, yeah. We are fortunate we went in. Likewise for Zomato.”

“Different insurance companies will price the same risk differently because their risk assessment models are different. And it's not as if their strategy is to undercut price. They believe this is a lower risk and therefore they'll charge a lower premium.”

“It was a big, it was about eight, nine percent of our treasury. Entire treasury. We didn't have a fund, right? We just had a balance sheet.”

“Ha, it was a large check for us in 2008. But in 2008 was a large check for us. We, on a PowerPoint or even pre-PowerPoint.”

“I remember in 2011, I wrote to the regulator that we should, that we would like to be regulated.”

“I think as we were raising capital he always advised raise less.”

“Decision to hold, decision to sell, decision to invest more a lot of that thinking has been led by Kitty. So I would not overrule Kitty on anything policy without discussing it. I can't recall the last time I overruled anything.”

“Very often, you'll see that in your, in the companies you're invested in, you only know one or two people. The investors. The others are shielded from investors. That is truly, truly different policy. That we get to meet everybody.”

“We raised 840 and on the day of the IPO, we had 700 plus in the bank.”

“InfoAge actually sold shares worth 133 crores, right? And it did sell. And they sold almost 30% of what they had at that time. And then they came back and invested sixty million dollars.”

“See, jobs is strategic investment. The rest is a financial investment. But they hope we've stayed, I think, 17 years in Policy Bazaar, so it's more than just financial. It's not strategic because it's not a business. It's not allied to a business that we own a…”

“When we went for our hospitals piece, we went to the shareholders for an approval. And I think, 82 or something percent of the people approved, and that's why we went ahead. So eventually, whatever big decisions we take are And legally, we did not even need to…”

“In insurance, we would be the largest. Yes, we would be the largest. We have a large market share in that.”

“We're also in loans and credit cards where again, we would be amongst the largest”

“Till, till 2020, everything we did we knew back then. Like I would say 90%. Now the areas we're starting to delve into, we did not know back then. Like what are the, like basically we did not know that claims control or claims experience would become such an i…”

“400 players have started something like Policy Wizard till date. 272 of them licensed to start a web aggregator in insurance.”

“About 40 funded competitors both before policy was started and after the first player who started in India was a player called I forget the name. I think it's insurance mall.in. And there was another one called Apna Insurance. Both of these players existed at …”

“See for the last 17 years, I look at our sales report every day at Two PM at five PM at eight PM, wherever I'm in the world, these three times I check my sales report.”

“Oh, as a percentage of total equity, you're getting too little compared to everybody else. Oh, why is that person getting so much? I think many of those things are just yeah, they're not value adding to anyone. Just, you know, get on with things. And I think t…”

“She was working in a bank. She got working because we needed to support the family because when I started Policy Bazaar we didn't have enough funds. So that is when she took on working. She got a job with the NatWest bank.”

“It still makes more profit than us. Every year.”

“Even today, I don't invest in anything, right? So I think I'm very, let's say variance averse, not risk averse, just variance averse.”

“Like today, when we are going in to say that we want to make a minority investment in hospitals, a lot of people think we're taking a risk. If there's a 90% chance of failure, we would still like to do it.”

“Four crore Indians have health insurance, but 40 crore should, right? So we are 36 crores short of our target. And that's what keeps us going that we have 10 X to go.”

“Because the claims experience still needs to fall into place, right? This is a product which is still working on kind of broken legs, because the claims experience is not where it can be.”

“I had never looked at our financials before we went public. I started looking at them and started making sure our financials and our MIS were saying the same thing.”

“When we grow health insurance, our losses grow, but health insurance is the most profitable business we have. Because we make money from NPV, but in the first year it's just cost and very little revenue.”

“See all our investor contracts from 215 onwards had in them an objective to go public.”

“Look, we invested in Policy Bazaar in 2008. We are still shareholders. We invested in Zamaatwo in 2010. We are still there.”

“We invested 20 crores on a PowerPoint. Before the product was launched, and therefore, it was a big sum of money for us.”

“And sure enough, what I was paying for my insurance was 40% higher than the lowest quote.”

“We have exited Zomato a bit. When Ant Financial came in, because Ant said we want a secondary. A little bit. We're supporting the company. Likewise, in Policy Bazaar, we exited a bit. Early on.”

“For example, we've been now invested for 10 plus years in Policy Bazaar, 10 plus years in Zomato 10 plus years in Merit Nation.”