119, Sector 44
Gurugram - 122001
Policybazaar.com to foray into healthcare and tech services
30 March, 2018
Policybazaar.com, India's largest insurance website and comparison portal, is planning to foray into the healthcare technology and services space
The new platform will provide consumers with easy, online and free access to PolicyBazaar's empanelled top-notch doctors and medical consultants.To begin with, the company intends to partner with 100 hospitals and 20,000 doctors, diagnostic centres, and clinics by the end of March 2019.The healthcare vertical also plans to offer a huge array of healthcare services, which includes in-hospital concierge services for its health insurance customers.By doing this, Policybazaar.com wants to be with its customers at the moment of truth, which is at the time of claims. "Our foray into the healthcare services space is in sync with the vision of expanding the social security net of India. With this venture, we seek to fulfill the need of providing quality and affordable healthcare of the burgeoning population at large by connecting the consumers with our in-house medical practitioners. The new portal will facilitate the creation of an inclusive healthcare system, which will eventually offer customised options for in-patient department insurance based on detailed analysis undertaken after studying consumer healthcare habits and patient's interactions with the doctors," said Yashish Dahiya, co-founder and CEO, Policybazaar.com.In the long run, PolicyBazaar.com wants to offer its customers a better and personalised claim and in-hospital experience.Policybazaar is also going to work with insurers to create a new category of health insurance for Out-patient expenses (OPD) and provide free online medical consultation to consumers over phone and chat. Policybazaar.com is in discussions with insurance companies to offer a first of its kind OPD insurance product. The company aims to offer 5 million OPD consultations by next FY.
New venture promoted to offer free online & over phone medical consultations
13 June, 2018
Yashish Dahiya, Co-founder & CEO, PolicyBazaar Group of Companies said: "We will be building a team of certified and quality medical professionals to give free online consultations to customers. This shall be supported by a robust offline network
AI will play a key role in helping us build this in scale and efficiency.ETechAces Marketing & Consulting Pvt. (ETechAces”), which owns India’s leading insurtech brand, PolicyBazaar.com(“PolicyBazaar”) and India’s leading lending marketplace, PaisaBazaar.com (“PaisaBazaar”), has floated another farm `docprime' for foraying into the healthcare tech and service space.As part of its plans to capture the out of pocket healthcare market in India estimated at nearly $100+bn, the new venture will provide free online and over phone medical consultations, to begin with. It aims to provide 1 million free medical consultations by March 2019 and reach the scale of 5 million by March 2020. Speaking on the latest venture, Yashish Dahiya, Co-founder & CEO, PolicyBazaar Group of Companies said: "We will be building a team of certified and quality medical professionals to give free online consultations to customers. This shall be supported by a robust offline network. AI will play a key role in helping us build this in scale and efficiency. Our vision is to change customer behavior in the healthcare space by making the consumer shift to online medical consultation from offline by building an easy to use, convenient and trustworthy solution. We believe that healthcare space has huge potential to disrupt, and can follow the same growth trajectory as the digital insurance space which initially faced a similar kind of consumer inertia that this space faces." India has one of the lowest ratios for a doctor per 1,000 people amongst the developing countries. Having a physical interaction with a medical practitioner is not only a time-consuming process but also an expensive one, especially in the private sector. Even though government hospitals and state-run health centers offer consultations either free of cost or at subsidized pricing, it's not easy to get an access to these services.
docprime.com gets internal fund infusion worth $50 million from Policybazaar Group
Gurugram, September 17, 2018: docprime.com, the latest healthcare venture by EtechAces Marketing and Consulting Private Limited (“Policybazaar Group”), announced that it has received initial internal funding of $50 million from the parent company. The Policybazaar Group also owns India’s leading insurtech brand PolicyBazaar.com and leading lending marketplace, Paisabazaar.com.
According to Yashish Dahiya, CEO and Co-founder, Policybazaar Group of Companies, “Healthcare sector has a lot of untapped potential and currently, the services are not affordable and accessible for all. With rising out-of-pocket expenses, there’s a need to provide quality healthcare at competitive prices that can be accessed by anyone, anywhere. As a Group, we wholeheartedly support docprime.com’s vision to provide a customized experience and maximize health benefits for everyone.”
Excited about the investment, Ashish Gupta, CEO, docprime.com said, “We intend to use the capital in providing seamless user experience and bringing innovation in the healthcare space. Our focus is to make the services more customer-friendly driven by transparency, trust and sustainability. We are bringing innovation through use of various technology tools like AI, data science and deep analytics.”
He further added,"Our core offerings include free consultation services through chat and phone from our in-house doctors, and discounted doctor and lab appointment bookings to encourage consumers in seeking expert medical advice and getting right solutions in a timely manner. Soon, we will also bring a unique OPD subscription-based product, which will cover unlimited consultations and diagnostic tests."
docprime.com has tied-up with 14,000 doctors and 5,000 diagnostic labs at present and aims to expand its network to 1,50,000 doctors and 20,000 labs across 100+ cities. Currently, appointments can be booked with doctors and labs based in Delhi-NCR but from next month onwards, the facility will be made available across all major cities including Mumbai, Bangalore, Hyderabad & Chennai
docprime.com is the latest venture by the Policybazaar Group with an aim to redefine how Indians seek healthcare services. It connects patients with doctors in real time and bridges the gap between need and fulfillment using state-of-the-art technology and a robust offline network. Besides providing free consultation on chat and phone by in-house team of health experts, it also facilitates booking of doctor appointments and lab tests at discounted rates and will soon be giving the option of OPD subscription packages with unlimited consultations and tests. The company is targeting 1 million free medical consultations by March 2019 and up to 5 million by March 2020.
About ETechAces Marketing & Consulting Pvt. Ltd.
ETechAces is the parent company that holds India’s leading insurtech brand, Policybazaar.com and leading lending marketplace, Paisabazaar.com. The company has backing from a host of investors including the likes of Softbank, Temasek, Tiger Global Management, True North, InfoEdge (Naukri.com), Premji Invest, besides investments from other PE funds and family offices.
ETechAces started Policybazaar.com with a purpose to educate people on insurance products and has transformed the way how insurance is bought in the country. From receiving traffic of 180,000 visitors in 2008, Policybazaar.com has come a long way and today, hosts over 100 million visitors yearly and records sale of nearly 300,000 transactions a month. Currently, Policybazaar.com accounts for nearly 25% of India’s life cover.
In 2014, ETechAces started Paisabazaar.com, an online financial marketplace for investment and lending products. Today, Paisabazaar.com is India’s largest online financial marketplace for loans and credit cards. It has collaborated with more than 75 partners across lending and investment categories with 300+ products on offer.
119, Sector 44
Gurugram - 122001