Gurugram-based online insurance aggregator Policybazaar has appointed former venture capital investor Sarbvir Singh as its new chief executive, replacing founder Yashish Dahiya.
The Economic Times reported, citing sources, that Dahiya will now take up a broader group CEO role at the company and adopt a more strategic role in the EtechAces group, which also owns and operates lending marketplace Paisabazaar and Zphin, the banking, financial services and insurance (BFSI)-focused technology services venture.
According to the report, both appointments are effective from December 2019.
Singh, who will report to Dahiya in the SoftBank-backed company, was, till recently, a managing partner at technology-focused venture capital firm WaterBridge Ventures. His LinkedIn profile does not reflect his new role yet.
The company has also appointed Sharat Dhall as its new chief operating officer. Dhall earlier worked with travel operator Yatra, where he held a similar position. He replaces Dhruv Sarin, who now leads international expansion for PolicyBazaar.
Policybazaar did not release any statement on the development or confirm the development at the time of publishing this report.
Singh is an IIT Delhi and IIM Ahmedabad alumnus, and has worked as the finance head of teleshopping and ecommerce portal HomeShop18, and as managing director of Capital18, an investment unit of Network18.
Last month, Inventus Capital Partners reportedly sold $25 million worth of stake in Policybazaar through a secondary transaction.
In November last year, Chinese internet conglomerate Tencent Holdings picked up a 10% stake in the company, after acquiring about half of Tiger Global's shares for $150 million, at a valuation of $1.5 billion.