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PB Fintech CEO Answers Tough Questions On Insurance Industry, Commissions & Business Models

NDTV Profit

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Where does the real problem lie in insurance? In this exclusive conversation with NDTV Profit, PB Fintech's Chairman and Group CEO Yashish Dahiya takes a deep dive into the insurance industry and the impact of the latest proposed insurance reforms by IRDAI. He also explains why misselling is largely a concern in savings products, while health insurance faces a very different challenge. The discussion also looks at term insurance, customer choice and why independent platforms can matter when a claim needs to be fought. Watch the full conversation!

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20 Comments

@gandikotassastry670 3 days ago

A consultation paper, which is so well documented with facts and figures, can only lead to tightened regulatory framework. Fintech companies, NBFCz, Bankers, OEM brokers, Auto dealer driven MISP network, will all come under pressure due to drastic fall in revenue. There will be a level playing field. Even PB Fintech will recalibrate its strategy. Everyone in the insurance eco-system need to focus on better service without seeking exceptional returns. PB Fintech is no exception. IRDAI is seeking to do what is long overdue.

@abhiram_123 3 days ago

It is policy bazaar's agents that do bulk of the online misselling. Do you intend to address it or not?

@ImmigrantTribe 3 days ago

Always talk goody goody 😂. You're the one who should be well informed and choose.

@AjitJoshi686 3 days ago

Is he under pressure from someone to retract ?

@MoneyBadger27 3 days ago (edited)

Isn't he blatantly lying ?
Policybazaar has investment plans on its platform.
Why not walk the talk first by stopping any saving/investment plans sales on your platform ?
Also market has made its decision already based off of the consultation paper itself, the remaining is to be seen in the company's financial statements ahead.

@jhonazhar 3 days ago (edited)

I’m astonished by the direction of comments, how irdai has succeeded in pushing anti agent/ anti distributer and pro- insurance manufacturers draft successfully hiding behind the facade of customer friendly reform, the fact of the matter is IRDAI is a puppet to the large manufacturers while providing them glide, but discriminating against the agents and distributors, while red carpeting for Ambanis, so disrupt the distributer ecosystem, so when it is destroyed, easier for Ambani to fill the void

@satyajitrajbanshi3620 3 days ago

The share price will surely bother you, don't worry 😂

@srikanthkn1975 3 days ago (edited)

Government and NGOs should give world class medical facilities and insurance so that people enjoy. Government should give quality hospital beds at 5 rupees per day and all/any insurance at 10 rupees per year. They have SBI and New India assurance at their disposal.

Who ever is not happy with world class government facilities can use private hospitals and platforms for insurance. No confusions or compulsions.

Hospitals like Yatharth , Apollo are buying lands at 1200-1300 crores to setup hospitals in Tier 1 cities. Another 1000+ crores on building and diagnostic facilities. No private hospital can give beds at cheaper cost.

Platforms were built with seed funding and later listing happened for investors to earn money. No one will invest in this country if profit focussed private companies are Penalized.

@bhawanasingh9637 3 days ago

Make a session with customers who got cheated by them rather than to hear them

@SANJAY0911 3 days ago

Why you and ALOK BANSAL ji sold 665 Crore worth holding at peak price of 1751 Rs/share during Q1 mid ? Surely you guys knew these would erode market cap and your wealth too.

@niveyshak 2 days ago

Reminds me of Senco, Kaynes days - today it is PB Fintech

@GirishH-z8s 3 days ago

The CEO might be having Big ESOP as part of his Compensation. So saying like this 😂😂😂

@Rags1982 3 days ago

Abide by spirit? Do you have an option? 😂 PB is the epitome of misselling

@bhawanasingh9637 3 days ago

Policy bazar is busy in mis-selling a lot of life insurance policies and in the end, no accountability is taken by their team

@5tyyu 3 days ago (edited)

I sold at Big LOSS today 😢

@sankalpshanbhag 3 days ago

If policybazzar keeps lying like the CEO is doing at present then their business will soon lie down. If a person with zero knowledge asks their executives any innocent questions then they are bound be trapped by their marketing gimmicks. Only good thing is plan comparison but not all are shown they choose what to show and not. Ullu mat banao ...

@munnaabhai-kf4yn 3 days ago (edited)

He has attitude problem 😮,he is surely affected by share price drop

@sudhishkumar992 1 day ago

Great person yashish

@munnaabhai-kf4yn 3 days ago (edited)

Why should i not earn commission money from investors as I have feed my family
Who gets only 330cr in 5000cr fixed deposits 😂

@amanagrawal3726 3 days ago

Your agents are misselling , forcing customers by calling again and again, IRDAI did correct against your misselling, your agents just want to enjoy their commission , they sold me ulip policy by hiding its terms and conditions and then denied that we didn't told you such thing....fraud company..