#Policybazaar Q3 2022 Concall Highlights
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Financial Update
1. Revenues grew by 73% to ₹ 367 Cr.
2. Insurance premium grew by 68% YoY to ₹ 1,796 Cr.
3. Credit disbursals grew by 94% to ₹ 1,926 Cr.
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Financial Update
1. Revenues grew by 73% to ₹ 367 Cr.
2. Insurance premium grew by 68% YoY to ₹ 1,796 Cr.
3. Credit disbursals grew by 94% to ₹ 1,926 Cr.
4. Adjusted EBITDA for Q3 was a loss of ₹ 92
5. Existing business contribution margin was maintained at 40%
For 9M FY22 Revenues grew by 44% to ₹ 950 Cr including additional deferred revenue of 75 Cr which will be received in next 12 months.
5. Existing business contribution margin was maintained at 40%
For 9M FY22 Revenues grew by 44% to ₹ 950 Cr including additional deferred revenue of 75 Cr which will be received in next 12 months.
6. Adjusted EBITDA for 9M FY22 was a loss of ₹ 203 Cr.
7. For 9M FY22 Insurance premium grew by 38% YoY to ₹ 4,812 Cr and Credit disbursals grew by 169% to ₹ 4,416 Cr.
8. ESOP charges were ₹236 Cr for the quarter.
7. For 9M FY22 Insurance premium grew by 38% YoY to ₹ 4,812 Cr and Credit disbursals grew by 169% to ₹ 4,416 Cr.
8. ESOP charges were ₹236 Cr for the quarter.
Business Update
1. PB Partners (PoSP business) became the #1 B2B2C platform in the country within its six month of launch.
2. PB UAE business is now a #2 in a fast growing market.
1. PB Partners (PoSP business) became the #1 B2B2C platform in the country within its six month of launch.
2. PB UAE business is now a #2 in a fast growing market.
3. PB Corporate now covers 1.1Mn customers and is the fastest growing corporate/SME insurance business in India.
4. Company has invested approximately ₹200 Crores in their brand and these new initiatives which they believe will be value accretive in coming years.
4. Company has invested approximately ₹200 Crores in their brand and these new initiatives which they believe will be value accretive in coming years.
5. Insurance premium with annualized run rate (ARR) of ₹ 8,108 Crores is growing 60% YoY.
6. Total customers using the credit score platform crossed 26Mn in the month of January 2022.
6. Total customers using the credit score platform crossed 26Mn in the month of January 2022.
7. Paisabazaar after COVID is now over ₹ 8,400 Crores ARR.
With PB partners the company will see expansion in their customers.
With PB partners the company will see expansion in their customers.
8. For last quarter renewal business was ₹55 cr. renewal business numbers are growing at 40% YoY and majority of the renewals come from the health insurance side with more than 90% margins.
9. Company’s has an offline strategy where now more than 300 agents are deployed and these agents can go to their customer homes in order to fulfil the order which was placed on policybazaar.
It can be health insurance, motor insurance etc.
10. The offline fulfilment counts for 3% of the total revenue.
11. On increase in employee expense management says this increase is because this year they have invested in building a team for their long term strategy.
10. The offline fulfilment counts for 3% of the total revenue.
11. On increase in employee expense management says this increase is because this year they have invested in building a team for their long term strategy.
12. On LIC partnership, company says they will go step by step with their goal, being complementary at start by offering products like fixed return plans and Ulips.
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