What Paz Care does

Pazcare (legal entity: Get Paz Insurance Brokers Pvt Ltd) is a Bengaluru-headquartered insurtech and employee benefits platform founded in 2020. The company operates as an IRDAI-licensed Direct Broker (Life & General) under Certificate No. 780, valid through November 17, 2027, placing group health, group term life, group personal accident, super top-up, keyman, and commercial lines (cyber, D&O, fire, burglary, crime, professional indemnity, industrial all risk) for corporate buyers. Beyond brokerage, Pazcare productizes Pazcard, a multi-wallet tax-saving employee benefits card covering food, fuel, telecom, learning, books, and gift allowances on a physical Visa card with a five-year validity, and a corporate wellness suite including tele doctor consultations, health check-ups, and fitness programs.

The technology stack is a digital, mobile-first platform featuring a unified HR dashboard for benefits and claims administration, an employee mobile app with 24/7 WhatsApp chatbot support, and integrations with leading Indian HRMS tools that automate employee additions and deletions to insurance policies. Under the Paz Labs sub-brand, Pazcare operates ClaimIQ (claimiq.pazlabs.ai), an AI-powered claims analytics tool that ingests structured claims data to surface cost drivers, rejection trends, and policy gaps, supporting renewal negotiations. Compliance posture includes AICPA SOC 2 Type II, ISO 27001, and ISNP certifications.

Commercially, Pazcare earns revenue through insurance brokerage commissions from carriers on policies placed, plus per-card and transactional fees on Pazcard wallets, with annual unit-based pricing on group health (indicative ~₹5,000 per life per year for 100 employees). Go-to-market combines direct enterprise sales with inside sales (digital calculators, Pazcard demos, Get Quote funnel) targeting HR leaders, CXOs, and founders at startups, mid-market, and enterprise customers across India. The company has raised approximately $11.3 million across a June 2021 angel round, an October 2021 seed led by BEENEXT with 3one4 Capital, and a June 2022 round led by JAS fund, and serves 2,500+ companies covering 4 lakh+ employees.

Name

Paz Care

Legal name

Get Paz Insurance Brokers Pvt Ltd

Website

https://pazcare.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

101–250 employees

Short description

Pazcare is a Bengaluru-based IRDAI-licensed insurance broker and employee benefits platform offering group health, group term life, Pazcard tax-saving wallets, AI claims analytics, and corporate wellness to 2,500+ Indian companies covering 4 lakh+ employees.

Ownership category

akta.pro rank

Product category

Employee Benefits Administration and Insurance Brokerage

NAICS

Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Group Universal Life (GUL) (FSAIADAC)

akta.pro secondary industry

Group/Employer-Sponsored Critical Illness & Hospital Indemnity (FSAIAKAD)

Keywords

• Group health insurance
• Employee benefits platform
• Insurance brokerage services
• Corporate wellness programs
• Flexi benefits card

Headquarters

HQ city

Bengaluru

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Insurance Brokerage Commissions: Pazcare acts as an IRDAI-licensed Direct Broker (Life & General, License No. 780) earning commissions from insurance carriers on group health insurance, group term life, group personal accident, and other commercial insurance policies sold to corporate clients.
2. Pazcard / Employee Benefits Platform: Pazcard provides tax-saving employee benefit wallets (food, fuel, telecom, learning, books, gift) loaded onto a multi-wallet card. Revenue is derived from per-card or per-transaction fees charged to employer clients for enabling and managing these benefits.

Pricing tiers

Distribution channels3 records

Marketing channels8 records

Core offering

Pazcare is an IRDAI-licensed insurance broker (Direct Broker Life & General, License No. 780) that provides Indian employers with a digital platform for employee benefits administration. It distributes group health insurance, group term life, group personal accident, super top-up, keyman insurance, business insurance, corporate wellness packages, and the Pazcard tax-saving multi-wallet benefits card, supported by a unified HR dashboard, employee mobile app, HRMS integrations, and AI-powered claims analytics (Paz Claims IQ).

Product overview

Paz Care is an employee benefits and insurtech platform offering a comprehensive suite of insurance and benefits products. The platform consists of two main pillars: Employee Benefits (Pazcard with tax-saving wallets including meal, fuel, gift, telecom, and learning & development; plus corporate wellness packages) and Employee Insurance (Group Health Insurance, Group Personal Accident Insurance, Group Term Life Insurance, Super Top-up, Keyman Insurance, and Flexible Insurance). The company also offers Business Insurance products (Fire, Cyber, Directors & Officers Liability, Professional Indemnity, Crime, Burglary, and Industrial All Risk). A mobile app provides employees 24/7 access to claims filing and tracking, while Paz Claims IQ delivers AI-powered claims analytics. The platform includes various HR tools (Gratuity Calculator, HRA Calculator, Salary Hike Calculator, Full and Final Settlement Calculator) and integrates with HRMS systems for automated policy management.

Differentiator

Problem solved

Functional benefit

Brands

• Pazcard: Tax-saving employee benefits solution featuring food wallet, fuel wallet, gift wallet, telecom wallet, and multi-benefit wallet cards.
• Paz Labs

Products and services

• Group Health Insurance Comprehensive employer-purchased health insurance plans covering medical expenses for employees with options for employee-only or family coverage including spouse, children, and parents. Designed for Indian companies seeking group health benefits for their workforce.
• Group Term Life Insurance Life insurance protection for employees and their families, providing financial security in case of the policyholder's death. Sold to employers as a group policy for their workforce.
• Group Personal Accident Insurance Accidental insurance policies tailor-made to team size and needs, providing coverage for accidental death, disability, and medical expenses from accidents. Sold to employers for their employees.
• Super Top-up Insurance Top-up health insurance coverage that supplements existing group health insurance, allowing organizations to upgrade coverage up to 20 lakhs for employees.
• Keyman Insurance Insurance coverage designed to protect businesses against the financial loss of key employees, providing stability during transition periods.
• Pazcard Employee Benefits Tax-saving employee benefits solution offering multiple wallets (food, fuel, gift, telecom, learning & development, books & periodicals) on a physical Visa card, enabling employees to save taxes under both old and new Indian tax regimes. Sold to employers for distribution to their workforce.
• Corporate Wellness Packages Comprehensive wellness programs including tele doctor consultations, health check-ups, fitness plans, and Zumba sessions to promote employee wellbeing. Sold to corporate clients, often bundled with insurance packages.
• Flexible Insurance and Benefits (Paz Flex) Customizable benefits platform allowing employees to handpick perks from a catalog of choices, providing flexibility and personalization in employee benefits. Sold to corporate clients.
• Paz Claims IQ AI-powered claims intelligence platform that processes group health insurance claims data to uncover cost drivers, identify policy gaps, highlight rejection trends, and benchmark policies against market standards. Used by HR teams.
• Cyber Insurance Commercial insurance coverage protecting businesses against cyber threats, data breaches, and related liabilities.
• Directors & Officers Liability Insurance Professional liability coverage protecting company directors and officers from claims arising from their decisions and actions in management roles.
• Fire Insurance

Quantifiable outcome

• 70+ NPS score for claims and support
• +5 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability4 records

Feature5 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Insurance Carrier Partners (via IRDAI Broker)coreOthersPazcare acts as an IRDAI Direct Broker (License No. 780) representing multiple insurance companies. Listed partners include Magma HDI, Care India, TATA AIG, Raksha TPA, MDIndia, Vidal Health, Health India TPA, Medi Assist, FHPL, Acko, Star India, ICICI Lombard, Aditya Birla. Pazcare's network includes 4,300+ cashless hospitals.
• Transcorp InternationalminorOthersTranscorp International provides the payment infrastructure for the Pazcard. Their helpdesk (+91 75971 82222, [email protected]) handles Pazcard-related queries and card closure requests.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• RenewBuy: Digital insurance aggregator in India offering motor, health, life, and commercial products. Adjacent competitor to Pazcare with a similar digital distribution playbook though a broader retail skew.
• InsuranceDekho: Indian insurance aggregator and broker focused on simplifying insurance buying through a digital interface. Comparable to Pazcare in digital insurance distribution ambition, though less specialized in B2B employee benefits.

Direct peers

• Plum: Bengaluru-based insurtech that provides group health insurance and employee benefits to Indian SMBs and mid-market employers via a digital platform. Most direct competitor to Pazcare on product, customer segment, and go-to-market motion.
• Onsurity: India-focused employee healthcare benefits and group health insurance provider serving SMEs and startups. Competes head-to-head with Pazcare on group health and wellness benefits for the same employer buyer.
• Zopper: Indian insurance distribution and insurtech platform that enables point-of-sale insurance across partner ecosystems. Comparable to Pazcare in its digital-first insurance distribution model and focus on embedded insurance.
• Turtlefin: B2B insurance distribution platform in India focused on simplifying insurance buying for businesses and partners. Directly comparable to Pazcare's mission of digitizing commercial insurance distribution.
• Riskbirbal Insurance Brokers: IRDAI-licensed direct insurance broker in India offering corporate and commercial insurance products. Closely comparable to Pazcare in the regulated broker role and corporate client focus.

Broad incumbents

• Acko General Insurance: Digital-first Indian general insurer offering motor, health, and commercial products, including group health for employers. Comparable in customer overlap but operates as a carrier, not a broker, putting Pazcare in the position of intermediary.
• Go Digit General Insurance: Listed Indian digital insurer with a broad product portfolio including commercial lines. Larger, more diversified incumbent whose group and commercial products overlap with Pazcare's distribution universe.
• PB Fintech (Policybazaar): India's largest insurance aggregator and listed fintech, distributing life, health, and motor insurance online. Competes with Pazcare for digital insurance demand and could disintermediate brokers in the retail and SME segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/getpazcare
• Facebookfacebook.com/getpazcare

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds3 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Paz Care