What Yashish Dahiya teaches about brand purpose

Today if you go to a policy bazaar and you're speaking on the phone, what you are saying is being picked up in real time, being decoded back to start projecting a claims ratio for you. As a fintech aggregator, how do you, so you generate reams of data on consumers and their choices. How do you use that to improve your own product and also develop the larger pie of the insurance segment working with your partners? So there are two, three kinds of data that we capture on a proprietary basis.

One is the digital behavior of consumers and second is the voice behavior of consumers because we have about two million conversations a day. And from these two, what we've been able to do is we've been recording these for the last 11, 12 years. We've been able to map them against claims and see what voice behaviors are indicative of a higher claims incidence of some level of, and we use that now in real time.

So today if you go to a policy bazaar and you're speaking on the phone, what you are saying is being picked up in real time, being decoded back to start projecting a claims ratio for you. Now, what's the advantage of this? See, in the insurance category, what happens is you usually will find, especially on the digital platforms, 95% of the consumers are genuine. And about 5% will come and give wrong information about themselves, knowingly. That wrong information can vary.

It can go all the way from a dead person claiming to be alive to somebody who's diseased claiming to be perfectly fine to somebody who's car at an accident claiming that their car is perfectly fine. And that 5% essentially creates maybe 20% extra claims for everybody. And what that means is for the genuine people, their cost is going up by 20, 30%. So that's priced in to the rest of the world.

So what we try to do is we try to cut that out somehow and thus achieve a claims ratio for companies which is far superior to what they usually would achieve because of superior data. And in doing so, the companies are then hopefully over time, as they see this data flowing in, able to provide a more effective product to our consumers. So already you see in the life insurance side, at least, a lot of the products being sort of say exclusively available to Policy Bazaar.

A lot of that is being derived from not just the volume of business we are doing, but also from the superior claims ratio experience. And that is all coming from very deep analytics, very basic form of analytics, but deep in the sense, a lot of data, a lot of information. And the beautiful part is we are sharing this in an open source manner with all partners. So whoever shares claims data with us, we share the industry claims data back with them. So you get more than what you kind of put in and you can use it for your own purpose.

So you are applying your learnings from online insurance into another area, the healthcare segment with DocPrime.com. Yes. If you could let us know a bit about that. So basically, DocPrime comes from, I had dengue maybe three years ago and I had to go to a hospital. They had to do some one test for me. And then the guy said, yeah, you've got, you know, get your platelet count in the afternoon and you've got dengue, right? If the platelet count says X, Y or Z.

I spent about two, three hours and, you know, going to hospital wasn't a very pleasant experience for me. And I said, why did I need to go to the hospital for this? Somebody could have just come, taken my blood sample and just told me I have dengue. And that's fine. All over the country, when people fall sick, if they have a place where they can just call in and talk to a doctor at the first step. And then if they need to see somebody go on to the next step, get their tests done. I think it's a good service.

And today with AI, etc., a lot of it can be provided. In fact, a lot of it, if programmed, can be, you know, quite, can give a lot of people who are underserved today or who don't want to undergo a hospital experience to, you know, at least get primary care. And of course, if there's an emergency, etc., it can be at the secondary level. So we're trying to solve that particular problem and trying to bring some level of service there. For the Yashish outside of the workplace, you are a triathlete, Ironman challenge.

You could maybe let us know a little bit more about that. What sort of drives you to get up, run, swim, cycle? I've been running since I was eight years old. I was not very good in other sports, so I could not play cricket or hockey or whatever. I maybe had special awareness issues. And I enjoy running. I find it very liberating. I enjoy cycling. I enjoy swimming. And I have, my family lives abroad. So I have a lot of free time in the morning. So I tend to use that for running, cycling, swimming. And it's in a way meditative.

So it helps me keep my thoughts quite clear. And yeah, I enjoy it.