Policybazaar.com was founded in June 2008 by Yashish Dahiya, Alok Bansal and Avaneesh Nirjar, starting out as an insurance comparison website. At that time, the Indian insurance industry still lacked transparency and policies were mostly sold through agents. Policybazaar started by listing the details of multiple insurance policies for customers to choose from. It began as a price-comparison website, and an information portal for learning about insurance and insurance programs. The website subsequently expanded to becoming a marketplace for insurance policies. In 2015, Policybazaar launched its app for Android and iOS users.
In February 2020, Sarbvir Singh was appointed CEO effective December 2019 while Yashish Dahiya took over the role of group CEO.In June 2021, Policybazaar obtained the insurance broking license from IRADA and announced that it would setup 100 offline outlets across India. The company also surrendered its web aggregator license.
