Insurance PhonePe
sells Five lakh policies in Five months of lockdown..!
PhonePe has claimed that it has sold
over 5 lakh insurance policies on its platform during the period 2020 April -
August. PhonePe had acquired insurance distribution license just 9 months back
in January 2020.
The online distribution platform sells
covid-19 insurance, domestic travel insurance, hospital daily cash, dengue
& malaria insurance, personal accident cover and international travel
insurance.
The company has seen insurance
purchases from over 15,000 pin codes covering tier-1, 2 and 3. Over 70% of its
users come from tier- 2 and 3 cities with many users buying insurance for the
first time, said the company.
In the press release, Mr. Hemant Gala, VP Financial Services
& Payments, PhonePe said, “Customers continue to repose their trust as
they find buying insurance on our platform affordable, simple to understand and
easy. This is in line with our goal to be a one-stop destination for all
insurance needs of our customers. We are in talks with multiple insurers and
have many new products in the pipeline which will be launched in the coming
months.”
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