Business and Strategy
Zibika – The Next Big Thing
BITSians have known to excel as entrepreneurs. In our Business and Strategy section, we have chosen to showcase Zibika, a BITSian startup which can become “The Next Big Thing”.
Kaushik Mukherjee, 2000A3PS130
Zibika.com is one of India’s fastest-growing online Insurance Retailer and Content Aggregator in the Personal Finance Space. At present, the portal presents the largest comparison portal of Insurance policies and Loans products (over 600 in each category). Apart from this, the portal also contains rich data on over 300 cards and 2000 banking products.
Late last year, ex-BITSian Kaushik Mukherjee had teamed up with one of his batch mates from IIM Ahmedabad, Arun Balakrishnan and Insurance Industry Expert Vivek Doraiswami to raise seed funding for this ambitious project. Since their launch in April 2009, they have grown rapidly to scale across Insurance verticals and were even selected as the top 14 Internet companies in the ET Power of Ideas Contest 2009. With the portal touching 100,000 page views, Zibika.com has also attracted the attention of venture funds in India/abroad and is in talks for raising a second round of capital.
Every aspect of Zibika has been designed to provide a simple, clutter-free experience that presents the complicated world of personal finance in an easy-to-understand way. One of the common pain-points in applying for insurance, loans and cards is the many pages of fine print that is almost always impossible to make sense of. Zibika makes it easy for users to understand the pros and cons of every insurance policy, loan product or credit card by providing the ‘Fine-Print-In-A- Nutshell’ as a part of its search results.
The Zibika StockBot:
Probably the simplest way to check Indian Market stock prices on the BSE and NSE. A first of its kind innovation, the Chatbot allows users to fetch share prices during and after trading hours by means of simple 'chat messages' on Google Talk. For example, to check for Sensex levels, all a user has to do is add the email address, email@example.com to their Google Talk friend's list and type 'Sensex' as a chat message. Individual stock prices on the BSE/NSE can also be fetched by means of simple messages. For many retail traders, it is a painful task to keep visiting a website and refresh a page multiple times to check for stock prices. The Zibika StockBot is clean, quick and lets users check scrip values within seconds. The popularity of this portal site has seen a jump of almost 100% since the launch of the StockBot. As of today, the portal is in its beta stage and the team has plans of launching a second version of the Stockbot after accumulating user feedback over a period of 60 days.
Zibika has partnered with Swiss-based VIG Insurance brokers to sell Insurance through their portal. Although at present, online policy requests are closed offline, by the end of next month, visitors will be able to purchase health and travel policies online in a matter of minutes. In keeping with Insurance as their central vertical, Zibika has also tied up with some of the leading brands such as ICICI Lomard, Future Generali, ICICI Prudential, TATA AIG, Reliance Life and Bharti AXA to name a few.