Policybazaar Parent to Foray into Healthcare Segment with ‘PaisaWiki’ Launch, Commits $100M
Gurgaon-based ETech Aces Marketing and Consulting, the parent company of online insurance aggregator Policybazaar and lending marketplace Paisabazaar.com, has earmarked about $100 million to launch a new venture in Indian healthcare technology and services segment.
Named as ‘PaisaWiki’, the platform will provide online access to top-rated medical consultants that will be part of an in-house team of doctors. It is also planning to sell medicines online to put it in direct competition with online pharma stores, including 1mg Technologies.
The company is looking to tie-up with medical professionals, clinics, diagnostic centres and hospitals. “We aim to tie-up with about 300 hospitals by the end of the next financial year… These services will help us creating very powerful data on consumer healthcare habits, as well as design intelligent and customised products for in-patient department insurance,” Yashish Dahiya, CEO, PolicyBazaar told ET.
The company, which was valued at $500 million post its last funding round in October 2017, is also launching OPD-specific insurance products to directly compete with Bengaluru-based Practo which has recently partnered with ICICI Lombard General Insurance to offer similar kind of services.
