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New Delhi: PolicyBazaar, an insurance comparison website run by EtechAces Marketing and Consulting Pvt. Ltd, has appointed Rahul Agarwal, former technology officer at Lava Mobile, as CTO. It has also hired Jayant Chauhan as chief product officer. Chauhan has previously had stints at Airtel, Zomato and Reliance.

Until now, Ashish Gupta, chief executive of PolicyBazaar's new healthcare venture DocPrime, was serving as the technology and product officer of the Gurugram-based company.

Agarwal is expected to devise a new technology roadmap for the company and identify innovations in his new role, PolicyBazaar said in a statement. On the other hand, Chauhan will help build products to contribute to the company's procurement capabilities.

"Both Rahul and Jayant have a stellar track record, spanning three decades in the field of technology, product development and strategic planning. This is the kind of combination we require to continue on our northward growth trajectory. They will complement each other’s roles at PolicyBazaar.com and lead the charge of identifying new product and tech innovation with continued consistency to serve our consumers better, which is the key ingredient of our success and catalyst to drive future growth," said Yashish Dahiya, co-founder and CEO at PolicyBazaar.

“As I embark on this new journey, my vision is to create new technologies that will not only have the potential to add value to the company but also help our users make better and faster decisions while choosing the right insurance products," Agarwal said.

PolicyBazaar entered the unicorn club after it raised $200 million in funding led by SoftBank's Vision Fund last year. EtechAces, which runs PolicyBazaar and Paisabazaar.com, also counts Temasek, Tiger Global Management, True North and Premji Invest as existing investors.

Founded in 2008, the Gurugram-based Policybazaar offers online services to consumers to compare and purchase insurance policies. It currently accounts for nearly 25% of India’s life cover, and over 7% of India’s retail health insurance business.

The online insurance platform competes withBankBazaar (A&A Dukaan Financial Services Pvt. Ltd), new entrant Coverfox, Digit Insurance and start-up Acko.

The company has delayed its initial public offering plans after securing the fresh funding in June last year.


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