PB Fintech shares in focus as company clarifies on healthcare foray

Multibagger stock: Shares of PB Fintech Ltd (Policybazaar) are in focus today after the company said it has continued to explore a foray into the Healthcare space, but has no update to share at the moment.  

A media report quoting sources said the company was planning to enter into the healthcare management services, which would be an additional service provided by the company to its customers, apart from selling the insurance policy of the multiple insurance companies in both life and non-life side. An official announcement regarding the same would be made by the management very soon, ET NOW reported. 

PolicyBazaar, as per the report,  has also tied up with the various insurance companies for the telemedicine-specific products.

Shares of PB Fintech surged 115 per cent in 2024 so far and 248 per cent in the past two years. At last count, the company commanded a market capitalisation of Rs 78,574.06 crore. 

“We believe if claims were a quicker and smoother experience it would increase the number of people buying health insurance. It would be much better if interests were aligned between insurers and Hospitals to give customers amazing claims experience and we believe that would grow insurance penetration," PB Fintech said in its clarification. 

"Yashish mentioned we are exploring this area in our last analyst call. We continue to explore, but have no decisions to update at the moment. A decision if and when arrived will be informed to the stock exchanges,” PB Fintech said.