Consider regulators another CXO in fintech: PB Fintech’s Alok Bansal

Bansal noted that regulatory interventions can often be “very drastic” and sometimes even “unpredictable.” However, PB Fintech was able to anticipate several key changes by staying closely connected to regulatory conversations.

“In our case, somehow we were able to sort of predict [the changes], because we were engaging quite a lot with them, so we were always ready before some major change happened,” he said. “It can be very, very tough to manage if you're not prepared.”

Managing public market expectations

PB Fintech went public in 2021. Since then, navigating public market expectations has been an ongoing challenge, particularly when engaging with global investors who may not be fully familiar with India’s financial ecosystem.

“From the shareholder perspective, you get maybe an hour every quarter at the most,” Bansal said. “The discussions are mostly quite shallow in the first few meetings. For them to appreciate what happens in our companies, especially given the Indian context, sometimes it’s not as easy.”

To bridge this gap, PB Fintech continues to invest heavily in investor education. “My guess is every quarter, I would be having between 200 to 500 investor meetings, even today,” Bansal said. “It takes a lot of effort, continuous interactions… to make them understand what you do and why you have a right to win.”

For fintech entrepreneurs entering the insurance space, Bansal offered a simple framework: “People need to understand very basic—who is the customer and what is the problem of the customer they’re trying to solve? Then comes, do you have a way to solve it in an efficient manner where you can make money?”

He added that the company has always stayed grounded in its mission. “Somewhere, we were a bit mission-driven, because early on, within the first two-three months of the company, I think we chose social security for the middle class as the sort of our agenda of the company.”

Even today, PB Fintech operates around four core needs for middle-class families—risk of dying early (term insurance), risk of dying very late (pensions), healthcare costs and child cost planning.

“If I am able to do a job where I can give you options in these four businesses, but you have to stay true to the cause—it makes sense,” he said.

Early support

Bansal also credited his long-time co-founder Yashish Dahiya for the company’s sustained growth. “Personally, we are chalk and cheese. Very different personalities, very different outlook for everything that we do. But we are joined at the head for 17-18 years now. So it worked out very well for us.”

He acknowledged Info Edge founder Sanjeev Bikhchandani as a key early supporter and mentor. “He was the first person to put in the cheque. And today also, for a lot of things, we reach out to him for advice. We have learned a lot—directly and indirectly—sometimes through his actions, how he’s built Naukri, and how he built the team and culture there.”

The 0-1 mindset

For aspiring founders, Bansal concluded with a reminder of the long-term commitment required to build meaningful value: “Practically, from a founder’s perspective, it is actually a 0-1 game. And if you are willing to put 5-20 years of your life into something valuable—right?—that’s what it takes.”