Policybazaar Group appoints CEO and COO for its HealthTech venture

ETechAces Marketing & Consulting Pvt. Ltd. (“PolicyBazaar Group”) which owns India’s leading insurtech brand, PolicyBazaar.com and India’s leading lending marketplace, PaisaBazaar.com, has named Ashish Gupta, as the Chief Executive Officer for its new healthtech venture, DocPrime.com.

The appointment is an elevation for Ashish Gupta, who has been serving as Chief Technology Officer at PolicyBazaar since November 2015. Ashish will continue in his current role of CTO until a successor is announced. In another senior leadership appointment, Richit Ummat was named as the Chief Operating Officer of the new venture. Prior to joining Docprime, Richit has worked with Apollo Munich Health Insurance in a leadership role of driving sales for the digital channel and has had multiple stints in the banking sector in the past.

Expressing his thoughts on the appointment, Policybazaar Group CEO & Co-founder, Yashish Dahiya, said, “We are excited for Ashish and Richit to take on leadership positions in our new healthtech venture. Both of them bring diversified experience spanning nearly three decades in technology, business development, strategic planning, and sales. This is exactly the combination we are looking to make a deep-rooted impact among the masses for providing quality medical services to the customers by leveraging technology.”

Having joined the company in 2015, Ashish Gupta has led the development of cutting-edge technology at Policybazaar.com, which includes Self-Inspection video feature to renew lapsed insurance instantly and AI-powered Chatbot-Pbee. Besides this, his vision has led to the adoption of numerous tech tools to provide customers with the seamless buying experience.

A graduate from the prestigious Indian Institute of Technology (IIT) Delhi, Ashish has been a serial entrepreneur and has founded companies such as Couponvodoo.com, Tekriti Software, StudyPlaces.com in the past. In his last role, he was CTO of healthkart.com, a consumer marketplace for healthcare products.

On the other hand, Richit Ummat holds a management degree from Delhi-based Indian Institute of Foreign Trade (IIFT) and comes with 15 years of experience differentiated across the banking and insurance sector, which includes working with ICICI Bank, Reliance Capital and Dhanlaxmi Bank in the past.

The foray of EtechAces into health tech through DocPrime.com comes on the heels of signing USD 238 million Series F funding round-led by Japans SoftBank and existing investors. With DocPrime, PolicyBazaar Group intends to become a one-stop shop for consumer's healthcare and financial needs. DocPrime is looking to build an extensive network of 150,000+ doctors in 200+ specialities, and 20,000 labs to conduct 5,000+ tests on its platform by March, 2019. The ultimate goal being to make healthcare services affordable, accessible and affordable for all.

About ETechAces Marketing & Consulting Pvt. Ltd. (“PolicyBazaar Group”)

ETechAces is the parent company that holds India’s leading insurtech brand, PolicyBazaar.com and India’s leading lending marketplace, PaisaBazaar.com. The company has backing from a host of investors including the likes of Softbank, Temasek, Tiger Global Management, True North, InfoEdge (Naukri.com), Premji Invest, besides investments from other PE funds and family offices.

PolicyBazaar.com started with a purpose to educate people on insurance products and has had a significant influence on how insurance is bought in India. It has helped in driving penetration of pure life insurance, health insurance, and such products which were barely bought earlier.

From receiving traffic of 180,000 visitors in 2008, PolicyBazaar.com has come a long way and today hosts over 100 million visitors yearly and records sale of nearly 300,000 transactions a month. Currently, PolicyBazaar.com accounts for nearly 25% of India’s life cover, and over 7% of India’s retail health business. It accounts for roughly half of all internet based insurance purchase in the country and is more than doubling annually.

In 2014, ETechAces started PaisaBazaar.com, an online financial marketplace for investment and lending products. Today, Paisabazaar.com is India’s largest online financial marketplace for loans and credit cards. It currently partners with more than 75 partners across lending and investment categories with 300+ products on offer. Since its inception in early 2014, the company has marked a staggering growth, and today disburses loans worth Rs. 360 crore in a month to more than 450 cities and towns.

We have received several accolades in India and globally. The most noteworthy being recognized as India’s top and world’s leading “Fin Tech Innovator” by the Global consultancy firm, KPMG and venture capital fund, H2 Ventures for 2015 & 2016. It has won a range of awards in the last couple of years, many of them consecutively. These include The Financial Express “Best Fintech Marketplace”, Internet & amp; Mobile Association of India (IAMAI) Digital India Award for “Best Financial Website” & “Most Innovating Insurance Service”, IDC Iconic Award for “Tech Implementation leading to Operational Excellence” to name a few.

Disclaimer: This article has not been edited by Deccan Chronicle and is taken from a syndicated feed. Photos: NewsVoir.