PB Fintech Limited

Management

Hi guys, thank you for joining the call. We started this company in 2008 with a very clear objective to improve Social Security in the country. And in Social Security, the primary products were Term and Health. Within that, term insurance, when we started, used to have a commission of 0. And, health insurance was the same as motor insurance. So the primary reason we built these businesses was because we felt these were important products for the Indian middle class. Secondly, we've had some regulatory updates last evening and, we just wanted to clarify that we do a little more than a broker. We spend a lot of money in advertising and marketing to build awareness for the category. We do a lot of underwriting and risk management, because of which insurers get better quality business.

We, of course, do distribution. But we also outdo what a distributor would usually do, in terms of customer service and claim support. We manage, for example, our own networks of garages, PB garages. We have a network of hospitals called PB Care+. We also have an investment in PB Health, which is a chain of hospitals. We also have a reinsurance brokerage. I just wanted to say these are additional activities from what you would find from a normal broker. In terms of our revenue lines, we have two clear revenue lines. One is life insurance, the second is general insurance. From the current regulations, in terms of net present value, we think the life insurance net present value is similar to what we have today, and should not have a major impact.