PBPartners Drives Motor Insurance Growth with Strategic Expansion in Bhubaneswar
Bhubaneswar : The motor insurance industry has witnessed steady growth in the last couple of years. PBPartners, a brand under Policybazaar, has also seen incredible annual growth in their motor insurance business.. This remarkable growth is driven by cutting-edge technology, competitive product offerings, and a unique agent partner-centric approach.
PBPartners has attracted a strong network of agent partners, revolutionizing the motor insurance landscape. By strategically expanding into key markets like Odisha and cities such as Bhubaneswar, they have extended vital insurance coverage to underserved areas, including small towns, villages, and talukas. This geographical reach ensures that communities often overlooked by traditional insurers gain access to affordable and comprehensive protection. Through this approach, PBPartners has solidified its position as a game-changer in the motor insurance industry, driving significant growth and fostering inclusivity.
AmitBhadoria National Sales Head, Motor BU at PBPartners highlighted, “Our strategic expansion into tier-2 and tier-3 locations has been a key factor in our impressive growth, particularly within the motor insurance sector. Odisha has emerged as a critical and strategic market for us. With a strong presence in regions like Khordha, Cuttack, Angul, and Sambalpur, PBPartners is steadily strengthening its foothold. The Bhubaneswar Experience Center has also played a pivotal role in driving growth, with over 2,200 agent partners contributing to the business. We aim to double our agent partner network to over 4,000, reinforcing our commitment to providing unparalleled insurance solutions.Through our dedicated Field Operations (FOS) and Telecalling VRM teams, we ensure connectivity and accessibility even in the remotest parts of India. With impressive year-on-year growth, we have established ourselves as a market leader.”
When it comes to motor insurance, customers typically look for coverage that offers thorough protection. Add-ons like bumper-to-bumper cover, engine cover, roadside assistancehave gained immense traction among vehicle owners. These comprehensive coverages provide customers with peace of mind and financial security, ensuring their vehicles are protected in every possible scenario.
PBPartners has an ambitious plan for next year, with a strong focus on establishing a substantial presence in underserved regions.Odisha, a critical and strategic market, is central to this growth, with PBPartners currently leading in market share and business generation. A key factor driving their success is the on-demand payout system, allowing agent partners to withdraw commissions daily—a significant advantage compared to the market standard of up to a month for commission releases. This flexibility is a game-changer, enhancing agent partner satisfaction and strengthening PBPartners’ commitment to expanding its reach and influence in Odisha and beyond.
Incorporating the latest technological advancements, including Artificial Intelligence (AI), PBPartners has revolutionized the insurance buying experience. AI has simplified complex processes like policy issuance, which now takes just 4-5 minutes compared to the earlier 10-minute timeframe. It has also enabled automation in ticketing systems, agent partner mapping, and claims services, ensuring a smoother, more efficient experience for both agent partners and customers. By focusing on localized growth and leveraging AI to streamline processes, PBPartners is not only simplifying insurance for customers and agent partners but also setting a benchmark for future growth in the InsurTech sector.