IRDAI s Bima Sugam platform is a move by insurers to create a neutral insurance marketplace. This is a big threat to Policybazaar s moat, says Macquarie
The results come a few days after Zomato reported a surprise net profit of Rs 2 crore during the June quarter, owing to deferred tax adjustments. PB Fintech was expected to be one of the first consumer internet startups to report a net profit.
While admitting that there is a viable business to be set up in digitising the physical agent network, Dahiya said there is definitely a bubble building up in the insurtech space with respect to sky high valuations.