PBPartners, a brand under Policybazaar Insurance Brokers, is setting new benchmarks in the insurance industry with its distinctive Points of Sale Person (PoSP) model. The company recently held a press meet in Hyderabad, highlighting the latest motor insurance buying trends in Telangana & AP and the remarkable growth witnessed in this segment. The event featured Mr. Amit Bhadoria, Associate Director and Sales Head, Motor Business, along with other senior leaders from PBPartners.
In Hyderabad, Telangana, there has been significant growth in demand for comprehensive and modular motor insurance products. It is the largest revenue contributor accounting for 75% of the total. Within PBPartners’ motor insurance segment, commercial vehicles make up the highest selling category at around 48%, followed by private vehicles at 35%.
Telangana, as a key market, boasts an impressive 5,500+ agent partners, highlighting the region’s crucial role in driving insurance adoption across South India.
Key highlights from the press meet:
New trends and insurance buying behavior and trends in Hyderabad: Lately, there has been a significant increase in awareness around modular motor insurance protection and add-ons among people in Hyderabad, Telangana. The right blend of cutting-edge technology and the personal touch of agent partners has been a big contributor to the brands’ success in this region.
“The heightened awareness among the people of Hyderabad has led to a significant uptake in the purchase of modular insurance plans like Pay As You Drive. We are deeply committed to expanding our presence in the South, particularly in Telangana and Hyderabad. Our goal is to reach even the most remote villages, ensuring that PBPartners is accessible everywhere. By 2027-28, we plan to establish close to 17-18 offices in South India, including cities like Vizag, Tirupati, Coimbatore, and others. With our new call center for AP & Telangana agent partners, we anticipate solid growth in motor insurance policies sold in the coming year. We are dedicated to supporting our agent partners in the South and making our services more accessible across these states. We will be inaugurating our Hyderabad office by the end of October.” said Mr. Amit Bhadoria, Associate Director and Sales Head, Motor Insurance, PBPartners.
Monsoon special expert tips and insurance add-ons to protect your vehicle: Mr. Amit added, “This monsoon season we have seen a significant up of 65% take in demand for add ons like: Roadside Assistance and Engine Protection Cover. RSA cover, in particular, has become a rather popular add-on among women and millennials – underscoring the growing awareness around wholesome motor insurance offerings.”
