PhonePe Launches Comprehensive Vehicle Insurance Platform
PhonePe has introduced a new vehicle insurance plan that covers both two-wheelers and four-wheelers, offering users a convenient and cost-effective alternative to traditional dealership policies. The digital platform allows customers to compare insurance policies from multiple providers and make purchases directly within the PhonePe app.
The company claims that users can save up to ₹4,000 on two-wheeler insurance and ₹40,000 on four-wheeler insurance compared to prices offered at dealerships. Additionally, PhonePe is offering Own Damage Cover starting at just ₹1 for two-wheelers, making insurance more accessible to a wider range of customers.
The insurance buying process on PhonePe is completely digital, eliminating the need for paperwork, dealer margins, and hidden fees. Customers can select their desired coverage, compare different plans, and complete their purchases seamlessly within the app.
Vishal Gupta, CEO of PhonePe Insurance Broking Services, stated that the company’s goal is to simplify the insurance process and make it more transparent. He emphasized that this launch will empower vehicle buyers to make informed decisions by providing competitive pricing and a streamlined digital experience.
With over 600 million registered users and processing 330 million transactions daily across its digital payments network, PhonePe is well-positioned to make a significant impact in the insurance sector. The company’s entry into vehicle insurance marks another step in its expansion into financial services beyond digital payments.
