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Tag: PolicyX

  • PolicyX – Bringing Trustworthy Insurance Plans to the Country

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

    Insurance is a tricky business. And with so many market providers, it becomes more difficult for the consumers to choose and decide as to which one is the best for them. In 2013, PolicyX.com entered this scenario with the vision to become the most trusted insurance marketplace in the country. Launched by Mr. Naval Goel, PolicyX.com strives to serve every Indian with convenience and choice of best insurance plan suited for them.

    Get more Insight on the Company Profile of PolicyX, Founders of PolicyX, Competitors, Revenue Model, Growth, Challenges Faced, Achievements and many more.

    PolicyX.com – Company Highlights

    Startup Name PolicyX.com – Insurance Web Aggregator Pvt. Ltd.
    Headquarter Gurgaon, Haryana
    Sector Insurance
    Founder & CEO Naval Goel
    Founded 2013
    Website policyx.com

    PolicyX.com – About & How It Works?
    PolicyX.com – Founders & Team
    PolicyX.com – Work Culture
    PolicyX.com – How It All Started?
    PolicyX.com – Name, Tagline & Logo
    PolicyX.com – Startup Challenges
    PolicyX.com – Revenue Model
    PolicyX.com – Competitors
    PolicyX.com – Funding
    PolicyX.com – Growth
    PolicyX.com – Recognitions & Achievements
    PolicyX.com – Future Plans
    PolicyX.com – FAQs

    PolicyX.com – About & How It Works?

    PolicyX.com is an IRDA approved web insurance aggregator providing a one-stop-shop for various insurance plans to its customers. The company has successfully completed more than 7 years in the insurance industry. Customers can compare different types of insurance policies like health, life, car, travel, etc. and get a free quote and purchase instantly.

    PolicyX.com provides the consumer with expert guidance in selecting health, life, travel & corporate insurance plans from some of the top insurance providers in the country. It runs complex algorithms to find plans that fit customer requirements, complete with live quotes, dynamic cash flow charts (first in the segment), videos and infographics within seconds, thereby helping them make an informed choice.

    In a short span, it has managed to generate trust with more than 0.6 million page visits/month. With the online availability, unbiased quotes and transparent services, policyx.com is helping consumers in choosing the best insurance policy out of all the available options for them. The company has tie-ups with leading insurance companies of India to serve best to the consumers.

    The team of PolicyX.com understands that they are in a business that affects life and it is crucial to provide the right customized advice to people. Thus the team has been focusing on building trust among customers towards online insurance.

    “Still, many people in India are used to following the traditional way of buying insurance. We need to fill that gap. We are also looking forward to creating awareness among those who still think of insurance as a wastage of money”, said Mr. Naval Goel, Founder, PolicyX.com

    Complete transparency, unbiased advice, customer support, and integrity are some of the values that are non-comprisable at PolicyX.com.

    PolicyX.com – Founders & Team

    Naval Goel is the founder and CEO of PolicyX.com.

    Naval Goel – Founder of PolicyX.com

    Naval has expertise in the insurance sector and has a professional experience of more than 5+ years in the finance domain. Before venturing into the field of entrepreneurship, Naval had worked with top companies like AIG in New York as a part of their valuation team.

    Naval is an MBA from IIFT, Delhi. He is also a Chartered Financial Analyst from CFAI, US and an FRM Certified professional from Global Association of Risk Professionals, US. He is also an Associate Member of the ‘Indian Institute of Insurance’.

    Naval is an ardent tennis lover and likes to have a game with his friends whenever he gets time to do so. Apart from that, he is fond of reading and investing in stock markets.

    Onsitego Success Story – Extended Warranty on Electronic Goods | Founders | Funding
    The content in this post has been approved by the organization it is based on. All of us know how difficult and cumbersome process it is to avail after-saleservices after our manufacturer’s warranty is over. Even after a lot offollow-ups and calls, seldom is there a chance for the consumers to av…
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    PolicyX.com – Work Culture

    PolicyX.com is an employee-friendly company with more than 300+ employees. The work culture is really great.

    “We are allowing our employees to learn and explore. We work as a team and make sure about their personal growth as well. We do have a proper training team to provide proper guidance in the hour of need.” Added Mr. Naval Goel, Founder, PolicyX.com

    PolicyX.com – How It All Started?

    Talking about the inception story, entrepreneurship was Naval Goel’s dream from the beginning. While working with AIG in New York, he noticed a gap in the country within the insurance sector. According to him, at that time most of the Indian population was still going the traditional way to purchase insurance.

    Because of the lack of technology in the insurance domain where only a few companies were covering the same, Naval could strongly sense a huge potential in this area and ample space for innovation. Then, he decided to seize the opportunity and established PolicyX.com in 2013. And that’s how PolicyX.com was born.

    And believe it or not, thorough research and experience in the same domain were enough to validate the idea. Today, it is one of the fastest-growing IRDA approved insurance comparison portals. PolicyX.com helps customers in comparing different insurance policy quotes and products like life, car, health, travel, investment, pension, and business among others.

    Everything You Need To Know About Life Insurance | Insurance Industry
    This post is dedicated to the domain of life insurance, the different types oflife insurance, the way these instruments are sold, and several other points.India had about 328 million life insurance policies in 2019, so it’s a prettyhuge business that one needs to understand and be aware of. Seve…
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    The goal is simple: Not a single grievance, not a single claim rejection, not a single surprise element at the time of claim. PolicyX.com will struggle hard to get there no matter what. This is what the PolicyX.com brand stands for. It wants to be the best so that consumers can trust them when it comes to insurance purchases.

    PolicyX Logo

    The logo of PolicyX.com has 3 colors and a person with a ring around him. The ring signifies protection and colors signify vibrancy and happiness.

    PolicyX.com – Startup Challenges

    The most prominent problem with the insurance industry in India is that it is a highly complex product and most of the products sold in the market are not beneficial for the customers. Most policies are sold for either tax benefits or investments and intermediaries have been pushing products where margins are higher.

    PolicyX.com offers much-needed transparency in the system by giving the power of choosing the right policy to the customers. They can also compare features and benefits at a click of a button and purchase through an online seamless process.

    The Impact of Coronavirus On The Insurance Industry
    The coronavirus outbreak [/tag/coronavirus-outbreak/] has affected all aspectsof human life in the last two months. The deadly COVID-19 has affected around 3million people worldwide. Many governments have taken steps such as lockdown tocontain the spread of Covid-19. A large number of people have…
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    PolicyX.com – Revenue Model

    PolicyX’s  revenue model is commission based. The company gets paid by the insurance companies when customers purchase policies after comparing from its portal.

    PolicyX.com – Competitors

    PolicyX’s top Competitors are

    • PolicyBazaar
    • ApnaLoanBazaar
    • ETInsure
    • mPokket
    • Greenlife Insurance
    • BankBazaar
    • Turtlemint
    • Acko
    • CreditMantri
    • FundsIndia and many more.

    PolicyX.com – Funding

    PolicyX.com has not raised any amount (Bootstrapped) till date (2020)

    PolicyX.com – Growth

    The team of PolicyX.com is focusing on building trust among customers towards online insurance. Still, many people in India are used to following the traditional way of buying insurance.

    “We need to fill that gap. We always make sure that we are providing unbiased and helpful services to the customer.” Said Mr. Naval Goel, Founder, PolicyX.com

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    PolicyX.com – Recognitions & Achievements

    • Reached 100+ employees within 3 years of launch in 2016 without external funding.
    • PolicyX.com named one of India’s best InsurTech of the year at the 9th India Digital Awards and 13th India Digital Summit! by IAMAI – 2018.
    • PolicyX.com in the list of top 10 Most Promising Insurance Startups in Silicon Magazine – 2018.
    • PolicyX.com in the list of the 30 best Emerging Fintech Startups by Inc42 – 2018.
    • PolicyX.com featured as one of the leading insurance comparison portals in India by ‘The Week’ – 2018.
    • PolicyX.com in the list of Top 100 most innovative InsurTech companies in the world! – 2018.
    • PolicyX.com in the list of 10 most Recommended Insurance Solution Provider.
    • Signed Virender Sehwag as its brand ambassador in 2019.

    PolicyX.com – Future Plans

    Moving ahead, PolicyX.com also looking forward to creating awareness among those who still think of insurance as a wastage of money. We want to build the gap with trust and awareness so that we can live in a safe and secure India. For the same, we are planning to come out with several different helpful campaigns” Concluded Mr. Naval Goel.

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    PolicyX.com – FAQs

    What is PolicyX.com?

    PolicyX.com is an IRDA approved web insurance aggregator providing a one-stop-shop for various insurance plans to its customers.

    Who are the Founders of PolicyX.com?

    Naval Goel is the founder of PolicyX.com

    How much Funding is raised by PolicyX.com?

    PolicyX.com has not raised any amount (Bootstrapped) till date (2020).

  • Why should you Focus on Upskilling Employees in Your Organisation

    Studies show that the cost of one worker leaving an organization could be expensive. This doesn’t include costs associated with interviewing and hiring a replacement; it’s a cost of time and money that goes into the training and development of a new hire.

    Upskilling, or reskilling, is a smaller investment than hiring and training a new worker. As you reskill your employees, you create a more well-rounded, cross-trained workforce, and increase your team’s effectiveness.

    94% of global learners perceive upskilling as an employer benefit, similar to paid time off and health insurance according to the 2020 LinkedIn Workplace Learning report. Employees want to learn, so the challenge for employers is to make learning convenient, useful, and most importantly, relevant.

    In recent times, Indian startups have also started to focus a lot on employee upskilling. We got in touch with the heads of a few companies to understand employee upskilling helped organization.

    How upskilling employees help organizations

    upGrad

    Founded in early 2015, upGrad offers online programs for working professionals. Owing to its commitment of making a future-proof workforce, upGrad provides its employees with a number of opportunities to help them enhance their employability quotient. It not only educate employees of the products and services but also, help them upskill their existing skill-set and knowledge horizon. You can read more about upgrad here . We talked to Mr. Mayank Kumar, Co-founder & MD, on how upskilling employees helped upGrad.

    Companies on an average spend a minimum of INR 30K to a maximum of INR 1.5 lakhs per fresher, to hire and train them, before they become productive. Through upGrad, companies can reduce this cost by as much as 50-60%. The rigorous learning that a learner goes through allows them to be able to hit the ground running on day 0.

    Plus, there’s no training cost incurred by companies post recruitment. Future employees and employers are getting to know each other well in advance. This is enabling them to develop a professional relationship even before joining formally. Companies adopting pre-boarding programs will witness a lesser churn, as these learners are developing deeper connection and more ownership in their roles.

    At upGrad, we provide training to new joiners of Fractal and Wipro. For these companies, a new joiner in Data role has to go through upGrad’s pre-boarding program, once the offer letter is rolled to the candidate. This allows the candidate to get acquainted with his/her role and be ready with the relevant job skills, even before he / she formally starts working for the organization as an employee.

    This kind of program is reversed engineered – basis the requirement of the role, these programs have been customized for the specific role in a specific company. Constant feedback is shared by the companies on updating / modifying the program, basis the company’s needs.

    On completion of the program, the candidate is absorbed in the workforce.

    PolicyX

    PolicyX.com is an insurance comparison portal helping consumers compare, choose and buy policies online. PolicyX provides health, motor, life, travel & corporate insurances from a wide range of insurers. We talked to Mahima Pandey, Founder, on how upskilling employees helped PolicyX.

    Upskilling employees help the organization improves its productivity and the performance per employee. The focus is to upskill the employee in accordance with the competencies and knowledge required for that role and this is a regular process which is being held on a periodic basis which in turn improves the overall performance of the Company.

    Rising Sun

    Inatur Ayurveda & Aromatherapy manufactures Organic and Natural skin, hair care and wellness products. These are safer, eco-friendly, and more effective skin care products. The company focuses on ethically sourced natural ingredients and drew inspiration from Ayurveda and Aromatherapy and ensured that every single product was crafted with Purity and Passion. We talked to Pooja Nagdev, Founder and CEO, on how upskilling employees helped Rising Sun.

    Yes absolutely training and upskilling employees works at all fronts. All of the employees stay positive and motivated. It further leads to increased productivity and employee retention.

    CASA EXOTIQUE

    Established with an urge to deliver incredible experiences, Casa Exotique has redefined a new benchmark for remarkable interiors and exquisite finishes. The company has been exploring the depth of Interior Designing and Styling with the help of a remarkable team of professionals who takes each and every turn to make your vision come to life. We talked to Ms. Bhawana Bhatnagar, Interior Stylist, Founder, on how upskilling employees helped CASA EXOTUQUE.

    As talented as an individual might be, there is always room for improvement and those who are hungry to learn more are the ones that end up on the top of the ladder of success. I believe by up-skilling our staff, we can produce people who are confident in their abilities. Consequently, they will feel motivated and would be able to attend to the customer’s needs in a better way – which helps both the customer and the organization.

    Packman Packaging

    Packman Packaging is one of India’s largest manufacturers of corrugated boxes, corrugated rolls, bubble rolls, bubble pouches, courier bags, POD jackets, duct tapes, e-commerce shipping bags and more. We talked to Gaurav Jalan, Director and Founder, on how upskilling employees helped Packman Packaging.

    Packman has seen several positive results through employee upskilling training. We have witnessed once the existing employees get trained they tend to stay longer with the organization. Also, this leads to good productivity.

    Once, the employees are working longer in terms of tenure it also means lesser time to spend for headhunting for new employees. The employees know that their routine will not be monotonous as the organization keeps on hosting such projects that also, keeps the employees motivated because they also feel that the company cares for them. And a content workforce is always a great asset.

    CarveNiche

    CarveNiche is an innovative edtech start-up, which is using latest technologies such as machine learning and advanced data analytics to personalise learning for K-12 education. We talked to Avneet Makkar, Founder & CEO, on how upskilling employees helped CarveNiche.

    Upskilling is the need of the hour and specially with e-learning gaining prominence in today’s situation. Ed-Tech companies have to be hands on in delivering the best personalized learning experience for students, at the comfort of their homes. For this, our employees have been trained in the latest technology and tools to help us deliver quality education to students.

    Esper

    Esper is a cloud platform that automates application deployment and management for Android devices. Using Esper, enterprises can configure and monitor Android devices for various use cases, keep them secure to help their business function seamlessly. We talked to Shiv Sundar, Co-Founder and COO, on how upskilling employees helped Esper.

    Esper’s employees need on-demand access to answers on how to do their job more effectively, but they also need content that’s engaging, entertaining and sparks new learning journeys. Sometimes, this isn’t related to their job responsibilities. Sometimes, it’s related to future skill sets and work requirements or individual interests. Esper hires curious candidates and we foster this curiosity with a broad range of learning journeys.

    We use peer-to-peer learning and social learning tools to spark new collaborations and the types of friction-filled exchanges that are behind real innovation. We’re continuing to explore new ways to make learning more convenient and on-demand for younger employees.

    Finally, Esper believes that preserving the human and social elements of learning is crucial —the same LinkedIn report found that the APAC region is doubling down on learning automation. Learning is ultimately about people.

  • Different Policies the Companies have Adopted to Upskill the Employees

    Today, business has changed its pattern. Technology is must to run any business.  Any business can invest in advanced technologies, but creating a workforce that’s ready to use them is much harder. So, Upskilling employees is one of the top most thing companies focus on.

    Upskilling is basically the practice of teaching employees to use technology to do their job. Using advanced technologies can save time, increase productivity, minimize human. So, companies are ever ready to add an advanced emerging technology in their portfolio, but if employees don’t know what and how if it, it won’t be useful.

    What Indian Startups do to upskill
    What Indian Startups do to upskill

    In recent times, Indian startups have also started to focus a lot on employee upskilling. We got in touch with the heads of a few companies to understand what they are doing for employee upskilling.

    upGrad

    Founded in early 2015, upGrad offers online programs for working professionals. Owing to its commitment of making a future-proof workforce, upGrad provides its employees with a number of opportunities to help them enhance their employability quotient. It not only educate employees of the products and services but also, help them upskill their existing skill-set and knowledge horizon. You can read more about upgrad here . We talked to Mr. Mayank Kumar, Co-founder & MD, on how they upskill employees.

    As a part of the new joiner induction process, we offer our programs to every new joiner in the company during the first month of their employment. This allows them to experience our learning platform + student mentor support + submissions grading and, of course, learn a skill that will add value to their profile. This program broadly consists of 1 week of ‘HR Bootcamp’ (explaining about corporate structure and an overview of the company) + 3 weeks of any other program as specified below:

    • HR Bootcamp + Customer Focus, Customer Behaviour, and the Digital Landscape + Branding (Digital Strategies-Digital Marketing Program)
    • HR Bootcamp + Exploratory Data Analysis (Data Analytics -PG Diploma in Data Science Program)
    • HR Bootcamp + Understanding Problems & Formulating Hypotheses (Business Analytics Program)
    • HR Bootcamp + Divide and Conquer Algorithms (Software Development – PG Diploma in Software Development)

    These bootcamps and workshops are conceptualised with an aim to keep our people well-aware of the industry trends both, domestic and global.

    Being a company that endorses upskilling, we encourage our employees to take up our courses to upskill themselves by offering them our programs at 100% discount for an employee who has completed 18 months with us and 50% discount for an employee who has completed 6 months with us.

    Also, there’s an in-house Learning & Development team that conducts workshops for employees at frequent intervals.”

    PolicyX

    PolicyX.com is an insurance comparison portal helping consumers compare, choose and buy policies online. PolicyX provides health, motor, life, travel & corporate insurances from a wide range of insurers. We talked to Mahima Pandey, Founder, on how they upskill employees.

    We have a dedicated team of qualified and experienced professionals who focuses on upskilling the employees so that they perform as per the expectations set for their role. They are involved in conducting new hire trainings, refresher trainings, bottom quartile trainings and other skill based trainings as and when required as per the training need analysis and requirements.

    Rising Sun

    Inatur Ayurveda & Aromatherapy manufactures Organic and Natural skin, hair care and wellness products. These are safer, eco-friendly, and more effective skin care products. The company focuses on ethically sourced natural ingredients and drew inspiration from Ayurveda and Aromatherapy and ensured that every single product was crafted with Purity and Passion. We talked to Pooja Nagdev, Founder and CEO, on how they upskill employees.

    At RisingSun we provide constant evaluation and training to the employees relating their job skill sets, health, safety, and hygiene. We encourage them to read more books and learn more with regards to their job.

    CASA EXOTIQUE

    Established with an urge to deliver incredible experiences, Casa Exotique has redefined a new benchmark for remarkable interiors and exquisite finishes. The company has been exploring the depth of Interior Designing and Styling with the help of a remarkable team of professionals who takes each and every turn to make your vision come to life. We talked to Ms. Bhawana Bhatnagar, Interior Stylist, Founder, on how they upskill employees.

    Up-skilling is very important for the growth of employees as an individual and the organization as well. We have approached up-skilling on multiple platforms because to foster an all-round skillset development. With our technical skill development training, we equip our employees with the ever-evolving technical skills needed to run the organization. With our soft skills development workshops, we teach communication skills to our employees to make them experts in communicating with clients and stakeholders. Last but not the least, we also arrange product and service training workshops to ensure that we develop good relations with our customers.

    Packman Packaging

    Packman Packaging is one of India’s largest manufacturers of corrugated boxes, corrugated rolls, bubble rolls, bubble pouches, courier bags, POD jackets, duct tapes, e-commerce shipping bags and more. We talked to Gaurav Jalan, Director and Founder, on how they upskill employees.

    Regular training programs are conducted at Packman to upskill the employees. also, employees are promoted faster, if they upskill themselves faster, this gives them further motivation. Packman makes sure to give balanced reward system so that other employees get motivated after seeing the growth of employees with better skills.

    Policy-wise Packman Packaging makes sure that every employee from the respective department stays updated about the latest technologies and trends. Employees working in the manufacturing unit are always trained whenever a new machine or technology comes in the unit or it is about to be installed. Similarly, from time to time Packman Packaging also conducts upskilling training for its employees from all the departments that include, marketing, customer service, and management teams.

    Packman strictly believes it is important to upgrade the existing workforce because only then the employees and company can grow together.

    CarveNiche

    CarveNiche is an innovative edtech startup, which is using latest technologies such as machine learning and advanced data analytics to personalise learning for K-12 education. We talked to Avneet Makkar, Founder & CEO, on how they upskill employees.

    Companies need to formulate a good development strategy to build comprehensive upskilling in the organisation. Having a plan would help you get buy-in from the organization’s leadership and from the workers themselves too. We conduct training for our employees on a regular basis.

    Esper

    Esper is a cloud platform that automates application deployment and management for Android devices. Using Esper, enterprises can configure and monitor Android devices for various use cases, keep them secure to help their business function seamlessly. We talked to Shiv Sundar, Co-Founder and COO, on how they upskill employees.

    Esper encourages employees to continually reskill, upskill, and pursue their passions and interests. Our employee upskilling programs includes peer-to-peer knowledge sharing. Every department gets one hour each week to share the knowledge of a subject matter expert with peers in an informal, open forum discussion.

    Hack Day

    Every other week, Esper’s entire team gets our hands dirty with a passion-based project. These hack days aren’t usually related to Android DevOps. Sometimes we work together to develop an app or learn new photography skills.

    Training and Courses

    Esper is continuously investing in new tools to help our employees learn in the flow-of-work. Our goal is to provide employees with tools to build their existing specialties and work more proficiently, like micro-learning and mobile eLearning. We’re also conscious that the future of work could require rapid reskilling, and we’re an agile brand, so our training options are forward-looking in that sense, too.