- PolicyBazaar has named former venture capital investor Sarbvir Singh as its new CEO with co-founder Yashish Dahiya taking on a broader group chief executive position.
Online insurance aggregator PolicyBazaar has named former venture capital investor Sarbvir Singh as its new chief executive (CEO), sources said, with co-founder Yashish Dahiya taking on a broader group chief executive position at the Soft Bank-backed firm.
Singh, who was until recently the managing partner of WaterBridge Ventures, a technology-focused early-stage venture capital firm, will report to Dahiya.
The business has also announced its new chief operating officer, Sharat Dhall, who had previously been with online travel operator Yatra. Dhall, who held a similar role at Yatra, is replacing Dhruv Sarin who is now heading PolicyBazaar’s international expansion.
All appointments, effective December, were not announced in advance. An email seeking confirmation of the appointments did not request a reply until Wednesday’s press time.
Previously, Singh, an IIT Delhi, and IIM Ahmedabad alum had stints as Head of Finance of the HomeShop18 teleshopping and e-commerce portal, and as Managing Director of Capital18, an investment arm of Network18.
Dahiya will now have a broader position within the EtechAces group, which also owns and operates the lending platform PaisaBazaar and Zphin, the technology services venture based on the BFSI, according to sources within the organization.
Within the Gurugram based company, Dahiya will take on a more strategic role, working across businesses, with a focus on mentoring, sources said. The passionate Iron Man, who is also an alum of IIT Delhi and IIM Ahmedabad and had previously worked at Bain & Co, co-founded Policy-Bazaar in 2008.
In November, it was announced that the Chinese internet conglomerate Tencent Holdings had picked up a 10 percent stake in the company after purchasing about half of Tiger Global’s stock for about $150 million, at a $1.5 billion value.
Policybazaar is an Indian insurance aggregator and a regional pioneer in financial technology. Yashish Dahiya, Alok Bansal and Avaneesh Nirjar formed the enterprise in June 2008. This offers a digital platform-website and app-where users compare major insurance companies ‘ financial services. The company has its headquarters in Gurugram, Haryana, India and is the biggest insurance aggregator in the world. The group has also extended activities toward the UAE.