Bootstrapped but Booming Startup: PolicyX
“It is not just me, it is the power of teamwork that makes PolicyX stand out of the crowd as a strong contender” says Naval Goel (CEO & founder of PolicyX.com).
For Naval Goel, success is all about hard work and innovation that he carries throughout the startup journey.
When Naval start focusing on having his own startup, several problems and challenges aroused, but this 32-year-old personality had the courage to deal with them and stand out as a fighter. Leaving a job just to explore one’s passion always seems like a bumpy ride and full of failures but, Naval with his strong determination and pool of knowledge knows how to tackle such hindrances.
Naval is from one of those young breeds of ‘Entrepreneurs’ who dreamt of making it big on his own and has successfully implemented the dream in the form of PolicyX.com. The company is the outcome of his foresightedness and understanding of the Indian online insurance market, which is growing at a rapid pace.
Back in 2013, there was only one major player in the online insurance sector, but Naval, with never to be backed down attitude took on new challenges and went ahead to setup his company and got an IRDA accreditation for the same.
Naval’s exposure of global insurance markets while working with companies likes AIG and Inductis in the US and Singapore proved of immense help while setting up his dream company which has grown tremendously from just 3 employees in 2013 to 130 in 2017. And all this happened while the company is still in it’s bootstrapped phase!
Naval, an MBA from IIFT, Delhi, Chartered Financial Analyst from CFAI, US and an FRM Certified professional from Global Association of Risk Professionals, US, has been recognized as an 'Emerging Entrepreneur' by the Economic Times at their Entrepreneurship Summit held in 2015 in Delhi.
From Where he got the Idea
PolicyX is one of the fastest growing insurance comparison online portals in India. PolicyX.com is the successful idea of founder Naval Goel during his consulting assignments in the US. He got an inspiration to make common man’s life easy and developed an online portal where India can compare the insurance market in each and every aspect. He left his job in the US and returned back to his motherland and that is when PolicyX.com was born in the year 2013, with just 3 employees at it’s base. PolicyX is one of the few companies who got an IRDA approval in August 2014. The startup provides a platform for comparison and online quotes related to different types of insurance such as the motor, life, travel, health and it also resolves all insurance-related queries. It is a transparent and easy to access online portal. PolicyX has tie ups with mostly all the major insurance providing companies in India and serves it’s clients with more than thousands of policies with the easy policy comparison solution.
PolicyX- The rising star
PolicyX is a platform which is the solution to all your problems related to insurance, be it a comparison between various insurance policies in the market, to checking on benefit and different coverages provided by different insurance companies at the same premium. The client while saving their time to compare can also save the premium amount on many different policy covers and can add-on the different benefit as well. PolicyX has designed their online website in such way that the client will get a clear idea regarding the benefit, premium, features, and an additional information with FAQs just after a few clicks on a single site.
PolicyX is a youth driven company whose employee base is increasing day by day. The company is flooded with innovative ideas to serve their clients in every possible way. Employees at the company guide the clients and help them to choose the policy that suit them as per their requirement. Determined and dedicated employees provide assistance to their customers, from helping them to shortlist the best coverage to giving them a comfortable platform to choose from the beast, employees never leave the end of the customers.
In the year 2014 & 2015, the company was nominated for the Best Website. The company was nominated for Red Herring Top 100 award in the year 2015. PolicyX has achieved the heights with the trust of its clients and transparent services. Customers of PolicyX agree that the company focuses on execution of all plans promised and as a startup, it is among the best portals to compare insurance online. The best part about the company is, that they take their competitors as an inspiration for moving ahead and to do best in the different fields. PolicyX is grateful to it’s competitors who have opened the door of new possibilities for the Indian customers and to make the life of customers easy by providing an idea of the online comparison of different insurance companies. But, PolicyX follows the new need of customers and the company is flexible to adapt new changes as per requirements of clients through the incorporation of latest technology in the system. The company takes care of the hard earned money, comfort and requirements of the customers and aspires to be among the top insurance comparison portals in the world.
