PhonePe becomes India’s first digital payment platform to launch International Travel Insurance

Bengaluru, January 23, 2020: PhonePe, India’s leading digital payment platform today announced its foray into the insurance segment with the launch of international travel insurance in collaboration with Bajaj Allianz General Insurance, India’s largest and most trusted general insurance company in India. PhonePe is India’s first digital payment platform to launch international travel insurance.

PhonePe’s Travel Insurance offering comes with first of its kind exclusive benefits such as a high sum insured of up to $1 million, special pricing starting at INR 216, instant refunds with no cancellation charges before the travel start date, 24×7 international travel assistance for customers throughout their journey across 220 countries.

Both leisure and business travelers can purchase travel insurance on the PhonePe app. Users can also save their policy certificates along with their basic information on the app to make repeat purchases simpler. 

Commenting on the launch, Hemant Gala, Head Payments, Banking & Financial Services, PhonePe said, “At PhonePe, we are working with the goal to simplify financial products, drive access to those solutions for millions of our customers. We would be offering a wide range of unique financial products through this year as we go deeper in understanding consumer needs and solving them through strong partnerships in the industry. Insurance is a great industry and there are a lot of efforts underway to transform the way customers experience various solutions. We aim to be at the forefront of driving those initiatives.”

Commenting on the launch, Gunjan Ghai, Head of Insurance, PhonePe said, “Our travel insurance product is an indication of our commitment to providing business and leisure travelers with insurance coverages that are convenient to not only buy but also self-service. We believe our travel insurance offering is empowering for customers, especially when they can carry their policy on their mobile while abroad. We are actively working with reputed insurance partners to introduce new categories of insurance products so that PhonePe customers will have to look no further than the PhonePe app for all their insurance needs.” 

About PhonePe:

Bengaluru-headquartered PhonePe is the fastest growing digital payment platform in India with over 175+ million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, make utility payments and buy gold. PhonePe is accepted across 8.7 million merchant outlets nationally. PhonePe also launched its own Switch platform in 2018, and today its customers can place orders on 90 apps including Ola, Myntra, IRCTC, Goibibo, redBus, Oyo, and Treebo, etc. directly from within the PhonePe mobile app. For more details, please visit https://www.phonepe.com or download the PhonePe app.

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