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Author:Manish Jaiswal
Bonsai Group
Bonsai Group
www.PolicyBazaar.com got funding from Info Egde
www.PolicyBazaar.com got funding from Info Egde
News and Reviews India - So, finally the veil curtain is pulled on India’s first Online Insurance Distribution Company related to funding. No, it is not for India’s # 1 Compare and Buy Now site www.InsuranceMall.in but for a new player www.PolicyBazaar.com . It has been reported that Info Edge (India) Ltd (www.naukri.com fame) has parked USD 4.50 Million (Rs 20.00 Crs) for 49% stake with eTechAces Marketing and Consulting Pvt Ltd. Click to read on..
In a Press Note issued from the company, Info Edge, Ambarish Raghuvanshi, CFO and Director, Info Edge (India) ltd. said, “eTechAces has a great management team and a differentiated approach to distributing financial products online, by empowering the customer to enable comparison of available options and make an informed data-driven decision.
ETechAces? is founded by Yashish Dahiya who is also the CEO of the company, Alok Bansal and Avaneesh Nirjar who act as the CFO and COO of the firm respectively. Yashish in his past avatar was the CEO of www.FirstEuropa.com , an Insurance Online Portal Company headquartered at UK.
Interestingly, PolicyBazaar.com in not into Insurance Broking yet. Lead generation which may not be the best business model for Indian context where per lead is only Rs 15 to Rs 25/- where as in Western World per lead could earn the marketing company over USD 50/- based on the quality of the Application and the Risk sourced. Without Broking License, PolicyBazaar.com cant provide Online sales and thus may not be able to compete with the marker leader www.InsuranceMall.in .
Mr Mahavir Chopra – CEO, Bonsai Insurance Broking (InsuranceMall.in) reacted “it is a great omen for Insurance Broking and Distributing companies in India as this funding will attract more VC’s or Strategic Investors for leading players like www.InsuranceMall.in / www.bimaonline.com / www.bimadeals.com etc. Insurance in India is over USD 20.00 billion market with less than 10% Indian asset or population being insured. So Sky is the limit and more professionals / companies are required".
Comment 1: By jennifer jones on 23rd Oct 2008
Good day dear Friend,
How are you doing today? Hope you doing very fine over there including your family, I am happy to recieve your contact and i hope that this will be the begining of a long lasting business relationship.
I am Mr MALAI BANGURA, a Seirra Leonean by origin. I was a gold and diamond dealer in Free town untill the present (APC) ALL PEOPLE'S CONGRESS PARTY civilian Government of PRESIDENT ERNEST BAI KOROMA revoked my Licence because i refused to involve my money in the last political campaign so eventually when they won the election i became a scape goat for the rgime.
Fortunately, i have been able to transfer 2,840.000.00 euro ( two million eight hundred and fourty thousand euro) to a Bank in Senegal, the country where i reside presntly. I have been victimised by the present civilian Government in my country and my money in Sierra leone has been siezed by the Government demanding that i should give account of all my money which they are aware i made from my Gold and diamond Business.
Ever since 17 September 2007 i have been living in fear and uncertain of my safety hence i was forced to move out of my country to Senegal.
Actually my purpose of contacting you is for us to go into partnership such that i can transfer this money to your account in your country for an investment purpose.
Since you know your country more than i do, you will have to decide on the type of business that we can run successfully in your country with the amount in question.All other partnership conditionalities will be discussed and agreed upon by both of us as soon as you indicate your interest for this transaction.
Honestly and in sincerity I guarantee that this will be executed under a legitimate arrangement that will protect you and me from any breach of the law. Please reply to(mcbang10@yahoo.com)
Thanks while i look forward to your reply soonest.
Yours Sincerelly.
Malai Bangura.
How are you doing today? Hope you doing very fine over there including your family, I am happy to recieve your contact and i hope that this will be the begining of a long lasting business relationship.
I am Mr MALAI BANGURA, a Seirra Leonean by origin. I was a gold and diamond dealer in Free town untill the present (APC) ALL PEOPLE'S CONGRESS PARTY civilian Government of PRESIDENT ERNEST BAI KOROMA revoked my Licence because i refused to involve my money in the last political campaign so eventually when they won the election i became a scape goat for the rgime.
Fortunately, i have been able to transfer 2,840.000.00 euro ( two million eight hundred and fourty thousand euro) to a Bank in Senegal, the country where i reside presntly. I have been victimised by the present civilian Government in my country and my money in Sierra leone has been siezed by the Government demanding that i should give account of all my money which they are aware i made from my Gold and diamond Business.
Ever since 17 September 2007 i have been living in fear and uncertain of my safety hence i was forced to move out of my country to Senegal.
Actually my purpose of contacting you is for us to go into partnership such that i can transfer this money to your account in your country for an investment purpose.
Since you know your country more than i do, you will have to decide on the type of business that we can run successfully in your country with the amount in question.All other partnership conditionalities will be discussed and agreed upon by both of us as soon as you indicate your interest for this transaction.
Honestly and in sincerity I guarantee that this will be executed under a legitimate arrangement that will protect you and me from any breach of the law. Please reply to(mcbang10@yahoo.com)
Thanks while i look forward to your reply soonest.
Yours Sincerelly.
Malai Bangura.
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