Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

A chartered management accountant with more than 10 years of rich experience in investment research and financial analysis. Worked as an equity analyst for one of the world's largest asset managers with USD2.5trn in AUM covering numerous sectors including chemicals, retail, tech, autos, telco, real-estate and banks, globally. Experienced in fundamental equity research, industry research, commodity studies, forensic accounting, and due diligence reviews.

Equity Analyst

Meituan: Is the US$1bn Fine the End of the Regulatory Probe on Meituan?

Paytm IPO: Multiple Revenue Channels but Profitability Is a Tall Order

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Capital Markets

<a href="https://www.smartkarma.com/entities/policybazaar-insurance-web-aggregator" target="_blank" data-smartkarma-citation="entities:33470:1" rel="noopener">Policybazaar Insurance Web Aggregator (1569999D IN)</a> operates an online platform for insurance and lending products and according to Frost &amp; Sullivan, the company’s lending platform (Policybazaar) was ranked India’s largest digital insurance marketplace with a 93.4% market share based on the number of policies sold. The company has filed for an IPO where it plans to raise gross proceeds of INR60,175m (US$783m) through the issuance of both new shares (INR37,500m) and sale of shares by existing shareholders (INR22,675m).The company’s products and services cater to the highly underpenetrated online insurance and lending markets in India that are currently undergoing structural changes including increased digitisation. The Covid-19 pandemic has accelerated this transition towards digital channels where physical KYC procedures, in-person insurance check-ups and physical verification of loan applications have dampened the growth of insurance and lending markets during the Covid-19 outbreak in India.Moreover, the credit lending market in India faces huge challenges in terms of credit scoring where only approx. 22% of the population have a valid credit score. Technology companies have been helping to address various challenges in the lending industry and the company’s Paisabazaar platform is widely accessed by consumers to obtain credit scores.

Policybazaar Insurance Web Aggregator (1569999D IN) operates an online platform for insurance and lending products and according to Frost &amp; Sullivan, the company’s lending platform (Policybazaar) was ranked India’s largest digital insurance marketplace with a 93.4% market share based on the number of policies sold. The company has filed for an IPO where it plans to raise gross proceeds of INR60,175m (US$783m) through the issuance of both new shares (INR37,500m) and sale of shares by existing shareholders (INR22,675m).The company’s products and services cater to the highly underpenetrated online insurance and lending markets in India that are currently undergoing structural changes including increased digitisation. The Covid-19 pandemic has accelerated this transition towards digital channels where physical KYC procedures, in-person insurance check-ups and physical verification of loan applications have dampened the growth of insurance and lending markets during the Covid-19 outbreak in India.Moreover, the credit lending market in India faces huge challenges in terms of credit scoring where only approx. 22% of the population have a valid credit score. Technology companies have been helping to address various challenges in the lending industry and the company’s Paisabazaar platform is widely accessed by consumers to obtain credit scores.

PB Fintech IPO: Poised to Benefit from Structural Changes in Insurance and Lending Markets in India