PBPartners, Policybazaar’s PoSP arm, has introduced an industry-first initiative, PBP One, to recognize and reward its PoSP partners. The PBP One program is an embodiment of PBPartners ongoing commitment to partner engagement and recognition. This pioneering initiative rewards top-performing insurance agents with LMC Coins, an innovative system designed to acknowledge their exceptional performance. Through this program, PBPartners ensures that their partners are consistently motivated, recognized, and inspired to maintain high standards of performance and dedication.
Dhruv Sarin, Co-founder – PB Partners
How PBP One program works
The coins collected through LMC are accumulated in the PBP One dashboard where a partner can see his performance on a month-on-month basis. LMC Coins are divided into three distinct categories:
Loyalty Coins: Earned through consistent monthly performance based on net premium generated.
Mastery Coins: Accumulated by cross-selling various insurance products.
Contest Coins: Awarded for qualifying in monthly or quarterly contests.
The agent partners can redeem their coins during the redemption carnival which is now live. They can redeem their coins for a range of exciting rewards like automobiles, consumer durables, electronic gadgets, household and kitchen appliances, and trips to exotic locations around the world. The highest rewards given so far to PoSP partners have been cars and gold bars.
Dhruv Sarin, Co-founder, PBPartners, said, “At PBPartners, we place utmost importance on our partner experience because we believe that only a satisfied partner can serve customers to the best of their ability. The PBP One program is a testament to this belief. This initiative not only provides substantial rewards but also inspires our agent partners to reach new heights of achievement. By fostering a culture of long-term collaboration and recognizing the hard work and dedication of our partners, we aim to build enduring relationships that will drive mutual success. We are confident that this program will significantly enhance our partners efforts and commitment.”
Mukul Chaturvedi, a Life Insurance PoSP agent partner from Jaipur, UP says, “Winning rewards through the PBP One program has been an incredibly motivating experience for me. The recognition and tangible benefits have significantly boosted my performance and overall satisfaction. I feel truly valued and inspired to continue excelling in my work with PBPartners. This program not only acknowledges our hard work but also encourages us to push our limits and achieve new heights. I am grateful for the opportunities and rewards it has provided, making my partnership with PBPartners even more rewarding and fulfilling.”
About PBPartners
*”PB Partners” is a brand under Policybazaar Insurance Brokers Private Limited.
Founded in 2021, PBPartners is a digital platform for independent sellers of insurance. Operating as the Point of Sales Person (PoSP) business within Policybazaar, it enables agents to sell multiple products from a host of suppliers conveniently using an app. It facilitates research, issuance, and customer management, leveraging technology, thus bringing cost efficiencies in an otherwise cost-heavy brick-and-mortar based model. It focuses on improving the partner experience by using state-of-the-art technology, thereby increasing the stickiness of the sellers while improving their productivity. At PBPartners, we have leveraged our experience of technology integrations and servicing with our insurance partners at our mothership – Policybazaar, thus replicating strong end-to-end digitally integrated journeys.
