In a society where risk-takers often find themselves alone, the journey of an entrepreneur is far from easy. When Policybazaar was founded in 2008, it wasn’t just about setting up a company, but about redefining how people in India think about financial security. In a country where insurance as a concept was riddled with misconceptions, and digital channels had a limited reach, the journey required tenacity, vision and relentless efforts with no assured milestones or immediate results in sight. But entrepreneurs are in it for the journey - including the risks - that makes them feel alive every single day, not immediate gratification.
For me, building Policybazaar was never about a “Plan B” - there wasn’t one. I was all in, knowing that we had to make it work. When I left my family behind in London to start Policybazaar from the scratch in India, it wasn’t a straightforward decision. However, entrepreneurship, as the word goes, is about finding your purpose, nurturing it with persistence, and transforming it into a sustainable, scalable reality. More importantly, it’s about pushing boundaries and challenging the status quo, even when the road is uncertain.
The purpose and the pursuit of a founder
I think entrepreneurship begins with seeing the possibilities that others miss. Early on, we recognized a glaring issue - Indians were buying insurance products without truly understanding what they were getting into. People were sold policies based on commissions, not necessarily, on what was best for them. This was the disconnect we sought to address, and it became the backbone of Policybazaar’s mission. Even today, the growth of life and health insurance in the country is what primarily drives us. Our goal was simple - help consumers make informed choices. And we wanted to do it by creating a transparent platform where policies could be compared openly, something that had never been done at this scale in India.
The journey began with a team of 18 people who shared the same vision. I remember Alok (Bansal) and I initially met Sanjeev Bikhchandani from Info Edge in an informal set-up, but the conversation turned out to be a major milestone for us. That early investment didn’t just provide capital; it provided validation when very few understood what we were trying to do. We had limited resources to begin with but it’s all about orchestrating the right mix of capital, partnerships, manpower and government support. Bringing everything together can sometimes take years or decades - without a definite timeline. Creating something that can potentially alter an industry takes time, which is often measured in decades rather than quarters.
Founders Vs non-founders: What makes them different
For me, the ability to integrate ideas and strategies from all their previous learnings at all levels is a defining quality for a founder. Founders have no qualms about stepping into every role - right from the visionary leadership to the grassroots. In those early days, my co-founders and I were handling everything - strategy, operations, customer service and making pitches to investors. In the beginning, we managed to build partnerships slowly, one by one, and eventually, we saw more stakeholders coming on board. Persistence, in my experience, is often the hardest part of entrepreneurship. You’re trying to change people’s perspectives, and that takes time - sometimes, years.
At Policybazaar, we see our journey as a marathon. We are not here for short term growth, we deliver value through long-term goals. It reflects in the way we have launched our new initiatives and businesses over the years. At the outset, there are no neat compartments or designated resources and it’s something that the founders are comfortable with. On the other hand, non-founders come with a different set of strengths. They might play better to their strengths with stability, structure and clear allocations of budgets, resources and roles. Founders, however, operate in zones where there’s a high likelihood of failure - often as much as 90 percent. While both founders and general managers are fundamentally different in temperament and drive, both play crucial roles in shaping up the company.
A society that must encourage risk takers
There’s something I’ve often observed is society’s attitude toward entrepreneurs. Entrepreneurs are often subjected to public scrutiny, where their achievements might often be labelled as ‘luck’ but their setbacks are amplified. Founders, however, don’t operate to win public approval. They persist because they believe in the impact of their work, even when external validation is scarce. It is important to understand the core of the business and not get digressed by the noise or fluff around it. In a society that doesn’t encourage risk-takers, there’s often a tendency to downplay the effort behind entrepreneurial success. In India, this cultural mindset is slowly changing, but there’s still a long way to go.
Entrepreneurship, for me, is not just about the end result; it’s about the journey itself. Each day is filled with challenges, risks, and the very real possibility of failure. And while that might sound daunting, it’s what makes the journey worthwhile. This acceptance of potential failure is almost exhilarating, like riding a bike. Founders find purpose in this delicate balance between risk and reward. It’s a ride that they are willing to take, every single day. Today, Policybazaar serves millions of customers, helping them make informed decisions about their financial security, and it’s humbling to see how far we’ve come. But for any entrepreneur reading this, my advice would be to embrace the discomfort, value the relationships you build along the way, and never underestimate the power of persistence.
Yashish Dahiya is Chairman & Group CEO, PB Fintech. Views are personal and do not represent the stand of this publication.
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