You are here: Home » Companies » News
Business Standard

PhonePe sees rising demand for Covid insurance with increasing cases

PhonePe said on Thursday that coronavirus insurance has seen widespread adoption lately with 75 per cent of its policies bought by customers in smaller towns outside the tier-1 cities

Topics
PhonePe | Insurance

ANI  |  Business 

PhonePe
PhonePe

India's leading digital payments platform said on Thursday that has seen widespread adoption lately with 75 per cent of its policies bought by customers in smaller towns outside the tier-1 cities.

This reflects the trust in platform among users in smaller towns and rural areas. The top states contributing to sales include Maharashtra, Andhra Pradesh, Karnataka, Telangana and Gujarat.

offers affordable policies in association with Bajaj Allianz General. The claims of more than Rs 3.5 crore have already been paid.

"The last few weeks have seen resurgence in COVID-19 cases across the country. Many Indians still do not have health covers as a result of which they may have to bear an additional financial burden in case someone in their family needs to be hospitalised for COVID-19," said Vice President and Head of Insurance of PhonePe Gunjan Ghai.

"Keeping this in mind, we are one of the very few players in the market today who continue to offer insurance product for our vast base of users," she added.

PhonePe is India's largest digital payments platform with over 287 million registered users. It has launched several mutual funds and insurance products like tax-saving funds, liquid funds and international travel insurance.

It is accepted at over 18.6 million merchant outlets across 500 cities nationally.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, April 08 2021. 15:17 IST
RECOMMENDED FOR YOU
.