The company said its GIFT City platform now serves NRIs across more than 35 countries, offering US dollar-denominated investment-linked insurance solutions through a fully digital onboarding process. It added that a growing share of its NRI customer base is being served through the IFSC route.
Speaking on the development, Bimal Menon, Principal Officer at Policybazaar’s GIFT City branch, said GIFT City accounts for more than half of the company’s NRI customers.
He said the IFSC is emerging as a preferred investment destination due to features such as tax exemptions under Section 10(10D), dollar-denominated products, simplified repatriation, and a unified regulatory framework.
Lakshit Mahajan, Head of NRI Investment Business at Policybazaar, said the company aims to simplify cross-border investing for NRIs through digital onboarding, remote KYC, and access to global investment options. He said GIFT City offers regulatory flexibility and tax advantages, positioning it as an alternative to established global financial hubs.
The company said NRI customers can invest through NRE or overseas bank accounts and choose from international funds as well as Gold and Silver exchange-traded funds (ETFs). It added that certain policies allow partial withdrawals and flexible premium payment options.
Policybazaar also noted that nearly two-thirds of its NRI investors in this segment are aged between 28 and 45 years, indicating participation from a younger demographic in global, dollar-linked financial products.
On the reinsurance side, the company said GIFT City’s regulatory framework allows overseas insurers and reinsurers to operate with greater flexibility, supporting capital deployment and underwriting activities within the IFSC. It added that this could contribute to deeper insurance market development in India over time.
Policybazaar said its offerings in GIFT City are aimed at combining cross-border investment access with long-term financial planning tools for NRI customers.
First Published: Apr 24, 2026 2:58 PM IST
