Policybazaar, one of India’s largest digital insurance platforms, has announced the launch of its reinsurance operations in Sri Lanka, Qatar, Oman, and the UAE.
The move makes Policybazaar one of the first India-based intermediaries to introduce a technology-driven reinsurance model across Asia and the Middle East—regions marked by strong growth but continuing efficiency and capacity gaps.
The company said the expansion responds to rising demand for modern reinsurance solutions in emerging markets that are seeking data-driven transparency and faster decision-making.
By entering these territories, Policybazaar aims to address inefficiencies in legacy systems and deliver reinsurance capacity to markets where specialist lines, such as cyber and climate risk, remain underdeveloped.
The company’s newly launched reinsurance platform combines data analytics, actuarial insights, and over a decade of distribution expertise.
Designed on a digital-first foundation, the system delivers faster and more transparent facultative and treaty placements across property, marine, liability, cyber, and climate-linked risks.
It aims to bring sharper underwriting discipline and operational efficiency to insurers that have traditionally faced slower, manual processes.
Built to modernise the reinsurance landscape, the platform empowers insurers to access improved pricing, greater speed, and enhanced data visibility. Policybazaar’s solution supports risk carriers in making more informed decisions while streamlining reinsurance placements.
Policybazaar’s entry into Sri Lanka, Qatar, Oman, and the UAE is strategically aligned with regional market trends. In Sri Lanka, the industry’s gross written premiums (GWP) reached LKR 280.1bn in 2023, up 40% since 2019, with growing demand for cyber cover.
Oman’s insurers reported OMR 609m in revenues in 2024, while Qatar’s market is expanding beyond energy into health and specialty risks. The UAE continues to stand out as a major hub, with AED 64.8bn in GWP and USD 3.5bn in (re)insurance premiums from the DIFC in 2024 alone.
With this expansion, Policybazaar reinforces its ambition to merge Indian InsurTech expertise with international reinsurance ecosystems, offering regional insurers access to a pan-Asian, technology-powered reinsurance network.
Policybazaar cofounder and CBO, corporate insurance & reinsurance, Tarun Mathur said, “Reinsurance has long been driven by legacy networks rather than innovation. But insurers today face a different reality—climate volatility, systemic cyber threats, and economic uncertainty all at once. They need partners who bring clarity, speed, and data-led decisioning, not just capacity.
“At Policybazaar, we’ve built our reinsurance platform to meet that need. It reduces friction, improves transparency, and empowers insurers to make faster, more informed decisions. Sri Lanka, Qatar, Oman, and the UAE are dynamic markets that value innovation and efficiency. This is more than an expansion—it’s the beginning of a pan-Asian, tech-powered reinsurance network.”
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