PhonePe does a first in India, launches International Travel Insurance in digital payment platform space

Phone Pe has announced its launch of international travel insurance in collaboration with Bajaj Allianz General insurance. PhonePe’s Travel Insurance is providing benefits such as a high sum insured of up to $1 million, special pricing starting at just Rs 216, instant refunds with no cancellation charges before the travel start date, 24x7 international travel assistance for customers throughout their journey across 220 countries.

Those users, who are business or leisure travelers, can purchase this travel insurance on the PhonePe Application and can also save their policy certificates. They can also save their basic details on the app to make repeat purchases so they don’t have to enter the detail again and again.

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 to 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.”

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.”