PB Fintech CEO Yashish Dayya discussed IRDAI's consultative paper on insurance commissions and its potential impact on Policybazaar's business model

Mon 5 Oct 2026

Heard on business television between 09:59:41 - 10:02:41 IST.

• Dayya said disincentivizing choice-based platforms via zero-commission mandates should be reconsidered by the regulator.
• He said Policybazaar could survive even as a zero-commission platform, noting it operated that way in 2013.
• He argued the platform's value lies in customer support, claims handling and renewals, not just commissions.
• He said mis-selling is a real industry problem, mostly in savings products with surrender charges, not in term insurance which he called impossible to mis-sell.
• He said health insurance's core issue is claims, not mis-selling, due to misaligned incentives between customers, hospitals, insurers and distributors.
• He claimed the push for incentivized choice regulation was the 'pugmark' of a few unnamed industry players seeking to restore opacity for profit.
• He said Policybazaar (his 'third child') would survive regulatory changes, though other smaller players and distributors may need more time to adjust.

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