From the recent interview of IRDAI chairman, I came to anaylse that the General Agent Management work which Policy Bazaar is currently doing i.e underwriting the customer and issuing policy on behalf of Insurer, is irrelevant and unlikely.
So, it means, Policy Bazaar business model is completely gone for a toss. They can't issue quotes nor they gets commission.
So, Policy Bazaar has to pivot the business model by issuing policies being a insurer and for that, they need new license.
This is now similar to the Dreamfolks case, where business model is under threat🚩