Anshul Anand

CEO

Policy Mantra

Short Description

PolicyMantra.com is IRDA (Insurance Regulatory & Development Authority) approved Insurance Aggregator. We believe in easy product description which takes into account customer concerns and queries thus creating a platform for the customers for product selection. We provide wide coverage of insurance marketplace and facilitate our customers to buy products of their choice. We have all kind of products offering ranging from car insurance to health insurance to life insurance.

Risks Involved in Business and Way of Addressing

People were skeptical to buy policy online though things are changing; they still are not very comfortable in making payment online, they want to talk to somebody before taking any decision so with a learned team of our call center we try to understand their needs and advice them appropriately. In some cases we also send our insurance partners’ representative to do the needful.

Most critical decision

The way our insurance sector has been working for last many years, I observed that the customers are flooded with misinformation due to which many of them get trapped into the products which they don’t wish to buy. Sharing information is very critical and when we were planning to start our venture we made it a point that we will provide all the inputs to our customers which they fail to receive from any of the companies, websites or agents at present.

Challenges Faced

Every life insurance product is different from another and to compare them on some common parameters was not apparently easy. We had to study a lot to get them on common base.

3 lessons learnt

Always choose your partner more intelligent than you, if you choose dumb partner you are bound to fail.
Always choose reliable & loyal team.
Be enthusiastic every day

Redoing Again

Well, its very hard to think to start a company again from the scratch. Even if I had to, I would prefer to hire people from different backgrounds so that I don’t have to invest my time in areas where I don’t have any expertise or experience.

Motivational factor

The challenges in this sector are immense and that drives me every moment. In addition to this, when I get queries from my customers and they feel satisfied by our replies, it makes me more confident and gives me a kick to move ahead.

What is Unique About Motivating My Troops

The way of communicating with your employees matters a lot. Whenever I explain work to my employees, I try to relate with examples around us. The most important thing is to tell your employees why we need this and what results we want to achieve. I believe every employer must be open to his employees and should give them freedom to work so that they don’t hesitate to take decisions when required. I always welcome suggestions from my employees.

Experience reaching out to investors

Reaching out to investors is always a good experience. Yes, they don’t give you money but they always give you something to learn. They challenge you, they thrash you, and they teach you and let you become stronger.
For us, every investor we met in the first year denied to give us seed fund but then always helped me in improving my business plan and then we finally got our first investor.

Favorite Comapny

TATA
Ethical practice, customer focused, innovative practices, visionary leadership