News Life and Health 14 Mar 2018

India:Insurance aggregator company to invest US$100 mln in HealthTech

14 Mar 2018

Gurgaon-based ETech Aces Marketing and Consulting, the parent company of online insurance aggregator Policybazaar and lending marketplace, has earmarked about US$100 million to launch a new venture in Indian healthcare technology and services segment.

Named as ‘PaisaWiki’, the platform will provide online access to top-rated medical consultants that will be part of an in-house team of doctors. It is also planning to sell medicines online, in direct competition with online pharma stores.

The company is looking to tie up with medical professionals, clinics, diagnostic centres and hospitals. “We aim to tie up with about 300 hospitals by the end of the next financial year… These services will help us create very powerful data on consumer healthcare habits, as well as design intelligent and customised products for in-patient department insurance,” Yashish Dahiya, CEO of PolicyBazaar, told The Economic Times.

The company is also launching outpatient-specific insurance products in the next six months to directly compete with Bengaluru-based Practo which recently partnered with ICICI Lombard General Insurance to offer similar services.


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