For many Indian families, a life insurance policy isn’t just paperwork it’s a promise. A promise of security, of dreams protected, of loved ones cared for when life takes an unexpected turn.
But what happens when financial stress makes it impossible to keep that promise? When paying the next premium feels heavier than hope?
Every year, thousands of families watch their policies lapse not because they stop believing in protection, but because circumstances leave them with no choice. The safety net disappears, and with it, the sense of security they worked so hard to build.
That’s where The Policy Exchange steps in not just as a company, but as a helping hand. Founded by Naveen Gupta, Tarun Bahri and Safia Anwar it was built on one powerful belief: no family should lose protection when they need it most.
The spark behind our journey came from a simple but persistent problem in the Indian life insurance industry policy lapses. Time and again, we saw how financial difficulties forced policyholders to stop paying premiums. What followed was a chain reaction: policies lapsed, families lost valuable protection, insurance companies saw profitability erode due to low persistency, and agents lost their hard-earned renewal commission, affecting their livelihood.
It was clear that this was not just a financial issue it was a human issue. Families were left unprotected when they needed security the most, and livelihoods in the ecosystem were being impacted. That’s when the idea struck: What if we could help policyholders hold on to their life cover, while also giving them the liquidity they need in times of financial stress? This question became the seed that grew into our venture.
On August 4, 2022, the company was established with a bootstrap investment of 50 lakh. The early days were tough - ten long months without a single rupee of revenue. But those months weren’t wasted. They were about building trust, refining our model, and laying the groundwork for something meaningful.
The turning point came with our very first transaction. It wasn’t just a deal it was validation that the idea worked, and more importantly, that it could make a difference. That month, we earned our first 1 lakh in revenue. It may have been small in number, but it was huge in significance, the beginning of a journey that’s only grown stronger since.
Story Behind the Brand’s Name
When it came to choosing a name, we wanted something that wasn’t just catchy, but also carried
the essence of why we existed. We thought about the countless policyholders who had invested their hard-earned money to protect their families, only to find themselves in financial distress. At that moment of need, their policy meant to secure their future suddenly felt like a burden.
What they truly needed was a way out, a place where they could unlock the value of their policy without losing the protection it carried. That’s when the idea of an “exchange” came alive a platform created for them, where a policy didn’t have to end, but could transform into liquidity when required.
And so, The Policy Exchange became more than just a name. It became a promise to stand by policyholders in their toughest times, giving them a choice, a chance, and above all, hope.
Achievements
When we look back at where we started with a single transaction and one insurance partner the journey feels both humbling and inspiring. Today, we have crossed 100 crore worth of transactions, and grown from 1 to 8 insurance partners, a sign that the industry increasingly trusts and validates our vision.
But the real story isn’t just about numbers. It’s about lives impacted. We’ve had the privilege of coordinating death benefit payouts for two policyholders, ensuring their families received the financial support they were promised when they needed it most. We’ve helped policyholders retain security by reinstating risk cover worth. 230 crore, and at the same time, provided over 90 crore in financial assistance bridging the gap between liquidity and protection.
In the process, we’ve also safeguarded policy value of more than 110 crore, proving that a life insurance policy doesn’t have to end when financial hardships begin. Every milestone we’ve
achieved carries one theme at its core: keeping families protected, even in the toughest of times.
Financial Struggles
Generally, one of the biggest hurdles most startups face is finding investors who believe in the idea. For us, it turned out differently. From the very beginning, our concept resonated strongly with investors, and instead of chasing funding, we found ourselves being encouraged and supported.
This validation wasn’t just about money it was about belief. Investors saw the depth of the problem we were solving and the scale of the impact it could create.
Knowing that we had their trust and backing gave us the freedom to focus on building the business, refining our model, and proving that the vision could be turned into reality.
Mission & Vision
Mission: To help families secure their financial future
Vision: To be the most innovative force in the insurance industry, delivering smart protection and wealth -creation solutions that safeguard and strengthen the financial future of families.
A Belief That Drives Us
I believe in finding joy in the work I do and giving it everything I have. For me, hard work is never wasted, it always comes back, whether as growth, learning, or lasting success.
The Founder's Behind the Vision – Naveen Gupta, Tarun Bahri & Safia Anwar
Naveen Gupta brings with him over 25 years of diverse experience across consumer banking and
telecom. He has led large-scale outsourcing operations at leading institutions such as Bharti Airtel,
SBI Cards, and Citibank, managing both complexity and scale with remarkable ease.
In 2013, Naveen took the entrepreneurial leap, teaming up with colleagues from Airtel to build his first ventures. With hands-on experience in establishing and successfully running startups, he learned what it takes to turn an idea into a sustainable business. Those lessons became the foundation of Fairvalue Insurtech, the company behind the brand The Policy Exchange.
Safia has over 25 years of diverse experience in the telecom and social sector. She has handled important roles in Sales, Service Marketing, Operations & Credit-control in Koshika Telecom, Global Telesystems and Bharti Airtel. She also began her entrepreneurial journey in 2013 along with Naveen.
Tarun Bahri, on the other hand, carved his path through the world of banking and insurance. He
began his career with a subsidiary of ANZ Grindlays Bank, quickly moving up the ladder and gaining valuable exposure across the financial sector.
His career then spanned some of the most respected private banks in India ABN Amro, HDFC Bank, and Citi before he transitioned into the life insurance sector with Max Life Insurance. At Max Life, Tarun rose to the position of Senior Vice President, where he played a significant role in shaping the business. By then, he had built a stable and successful career but stability wasn’t what he was seeking. Deep down, Tarun wanted to create impact, to solve problems the industry
had overlooked for far too long.
Leaving behind the comfort of a senior corporate role was a tough call. Yet, driven by his conviction to make a real difference, he took the bold step into entrepreneurship. After a stint with his consultancy work, Tarun joined as Co-founder & CEO of The Policy Exchange, where he now leads with a mission: to redefine life insurance in India by keeping families financially secure, even in their toughest times.
Together, Naveen, Tarun and Safia represent the perfect blend of strategic vision and industry expertise three leaders bound by a shared purpose of protecting families and transforming the insurance ecosystem.
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