[10] Policybazaar.com was founded in June 2008 by Yashish Dahiya, Alok Bansal, and Avaneesh Nirjar, starting out as an insurance comparison website.

[15] In June 2021, Policybazaar obtained an insurance broking license from IRDAI and announced that it would set up 100 offline outlets across India.

[11] Intel Capital and Info Edge invested ₹60 crore (US$12.86 million) into Policybazaar in May 2011 as part of the venture round.

[20][21][22] In May 2014, Policybazaar.com raised $20 million in a Series C round of funding from existing investors including Tiger Global Management.

[26] Tokyo-based SoftBank Group's Vision fund led the round with its US$150 million investment that gave it a 15% stake in the parent company of Policybazaar, ETechAces Marketing and Consulting.

The Series F investment saw Info Edge put in $45 million in the company through a special purpose vehicle, effectively lifting its stake to 13% from 9%.

[29] In November 2021, PB Fintech Ltd., the parent company of Policybazaar, opened its initial public offering (IPO) and raised ₹5,625 crore (US$760.98 million).

[32][33] In May 2021, the Insurance Regulatory and Development Authority of India (IRDAI) imposed a fine of ₹24 lakh (US$28,000) on Policybazaar for flouting norms related to SMS advertising.

[36] On 6 December 2023, Policybazaar sends defamation notice to insurance review platform Beshak Solutions Private Limited.