Online insurance marketplace Policybazaar has reported a sharp rise in insurance demand in Coimbatore, driven largely by young salaried professionals and high net-worth individuals.
Addressing mediapersons here, David Oscar, Operations Head (South), Life Insurance, Policybazaar, said the city has emerged as a strong market for financial literacy and structured long-term planning. Popularly known as the Manchester of South India, Coimbatore is witnessing increased traction for both term insurance and insurance-cum-investment plans.
Between January 2022 and January 2026, enquiries for long-term savings products in Coimbatore more than doubled. The broader Kongu region, comprising Coimbatore, Tiruppur, Erode, Karur, The Nilgiris and Pollachi, recorded a three-fold rise in enquiries during the same period, reflecting growing financial awareness across western Tamil Nadu.
High net-worth individuals now account for nearly one-sixth of total savings plan purchases in Coimbatore, marking a six-fold increase since 2023. Their contribution to term insurance has also strengthened, accounting for about one-fifth of the city’s term business.
Customers aged 25 to 40 years constitute nearly 75 per cent of term plan buyers, with their participation in savings products rising by around 10 per cent since 2022. Salaried individuals represent about two-thirds of term insurance customers.
Savings plans offering a waiver of premium feature saw a three-fold increase in sales between 2023 and 2025 and now contribute nearly 30 per cent of the overall savings business.
Policybazaar currently operates across more than 30 cities with over 3,000 advisors, with around 40 per cent of its life insurance business driven through direct, in-person engagement.
