Policybazaar Arm Ropes In Amitabh Dewan To Head Large Risks

SUMMARY

With this appointment, the company looks to chalk out growth strategies and business expansion plans for PBFB

With more than 20 years of experience, Dewan held positions at Howden Broking, Mahindra Insurance Brokers Limited and Willis Towers Watson

“Dewan’s extensive experience will be key in executing our vision to build a customer-first, trusted corporate insurance business," said Sajja Praveen Chowdary, head of PBFBs

Insurtech major Policybazaar’s corporate insurance arm PolicyBazaar for Business (PBFB) has roped in industry veteran Amitabh Dewan to oversee its large corporate risk business.

With this appointment, the company looks to chalk out growth strategies and business expansion plans for PBFB.

With more than 20 years of experience in general insurance, risk engineering and loss prevention, Dewan held positions at Howden Broking, Mahindra Insurance Brokers Limited and Willis Towers Watson, also in FMCG, manufacturing and other industries.

“Dewan’s extensive experience will be key in executing our vision to build a customer-first, trusted corporate insurance business. We are excited to have him aboard to tackle large-scale challenges and drive innovative solutions in India’s corporate insurance landscape,” said Sajja Praveen Chowdary, head of PBFB.

“I’m truly delighted to join Policybazaar For Business at a pivotal time when the company is set to scale its corporate insurance offerings and deliver targeted solutions that address the evolving needs of enterprises in the country,” said Dewan.

Policybazaar’s parent PB Fintech reported its financials for the third quarter of the current fiscal year (Q3 FY25) last month. It reported a 92% jump in its consolidated profit after tax (PAT) to INR 71.54 Cr in the third quarter of the fiscal year 2024-25 (Q3 FY25) from INR 37.23 Cr in the year-ago quarter, buoyed by healthy insurance premium collection.

Notably, this was the fifth consecutive profitable quarter for PB Fintech. The company’s operating revenue zoomed 48% to INR 1,291.62 Cr in Q3 FY25 from INR 870.89 Cr in the corresponding quarter last year.

The development comes at a time when the company’s recent commercial faces backlash from social media users, as per reports. The advertisement popped up during the ICC Champions Trophy match to which social media reacted negatively, calling it insensitive. The advertisement was promoting life insurance policy coverage for families.