CMO Sai Narayan on how PolicyBazaar leveraged AI for customer engagement
During the Storyboard18 DNPA Conclave, PolicyBazaar's CMO Sai Narayan shared details about how the 'AskPB' idea was generated-- company's chatbot for users inquiring about insurance-related information
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Insurance comparison application PolicyBazaar leveraged the generative Artificial Intelligence which became a game-changer for the company in boosting the customer engagement.
During the Storyboard18 DNPA Conclave, PolicyBazaar's Chief Marketing Officer Sai Narayan shared details about how the "AskPB" idea was generated-- company's chatbot for users inquiring about insurance-related information.
Narayan said, "Earlier, people would visit our website and application and submit queries about health insurance, such as, 'I have a pre-existing disease; how does that affect cover?' Then, 24 hours later, someone would manually read and respond to the questions. Later, we collated those queries and responses and used AI to generate auto-responses to specific questions. We created AskPB property, and now more users engage with us. AI has increased the speed of response and more engaging for the consumer".
Narayan said PolicyBazaar uses both embedded AI and generative AI in its daily operations to boost customer acquisition and efficiency.
PB Fintech, parent company of PolicyBazaar, reported a 92 percent growth in net profit at Rs 72 crore in the December quarter of fiscal year 2025, aided by the strong performance of new health and life insurance policies.
PB Fintech’s revenue from operations grew 48 percent year-on-year to Rs 1,292 crore. Its revenue stood at Rs 871 crore in Q3 of the previous year.
PB Fintech’s total insurance premium stood at Rs 6,135 crore with new core online insurance premium growing by 44 percent while the new health and life insurance premium growing by 47 percent.
On Thursday, the company roped in Amitabh Dewan to oversee its large corporate risk business.
