Insurtech firm Policybazaar scales UAE foothold

India’s largest digital ins. player Policybazaar is doubling down on its UAE presence, brushing off short-term volatility from the regional conflict to focus on strengthening its product offerings and post-sales experience in the emirates. The Emirates “remains our primary focus. We’ve invested significantly, but there’s still considerable headroom, especially in product depth, technology, and accessibility,” CEO of Policybazaar UAE Neeraj Gupta tells EnterpriseAM.

“Expansion beyond the UAE will come when we see the right [opening],” Gupta said. The UAE business has been consistently profitable and grew 64% y-o-y in 2Q FY 2026 (July-September). The approach indicates confidence in the region even as global firms continue to reassess exposure amid geopolitical risks.

What they do: PB Fintech, the Gurugram-based parent firm which operates Policybazaar and Paisabazaar, offers comparison and distribution of health, life, and motor ins., alongside credit products. The company rolled out UAE operations in 2018 with funds raised in 2021. In the UAE, it has localized this model through insurer partnerships and diaspora-focused health plans while expanding into credit aggregation.

IN CONTEXT- PB Fintech invested around AED 12 mn (USD 3.2 mn) into its UAE arm, Genesis Group, deploying its India IPO proceeds earmarked for overseas expansion.

Building a corridor product: While the UAE business initially mirrored Policybazaar’s India model, it is increasingly evolving into a cross-border proposition. Motor, health, and life ins. remain the company’s core lines in the UAE. Health and motor contribute the bulk of revenues, while life ins. is the fastest-growing segment.

“The Indian diaspora is a natural starting point. They are a large demographic and already aware of our brand,” Gupta tells us, adding that the company is now seeing an uptick in traction from other nationalities, including Arab and European expats. This diaspora demand is reflected in product design, with offerings tailored to cross-border mobility, including health ins. plans that provide continuity and portability back to India.

Credit push gains traction: PB Fintech is also expanding beyond ins. through Paisabazaar, its credit marketplace launched in the UAE in February last year. “The UAE is a multi-card, offer-driven market, and a key focus this year is scaling unsecured lending,” said Gupta. Unlike India’s underpenetrated credit ecosystem, the UAE presents a more mature, competitive landscape, requiring bank-led partnerships and sharper pricing to acquire customers.

No war-driven premium inflation: “We haven’t seen any premium increases linked to the conflict, and we don’t expect that in the near term,” Gupta says. He notes a shift in consumer behavior: interest in protection products like term ins. has increased in the aftermath of the war, while investment-linked products have slowed. Initially, customers delayed purchase decisions, but activity has rebounded since the ceasefire, he adds.

Despite war-driven volatility, Policybazaar is maintaining its long-term investment stance in the UAE. “Ins. is a long-term business,” Gupta said. “From a decade-long perspective, this is a temporary disruption. Our plans remain unchanged; we continue to invest and hire.”