PhonePe, India’s main digital funds platform has introduced the launch of Automobile and Bike Insurance coverage merchandise on its platform for homeowners of personal automobiles and two-wheelers, in affiliation with Bajaj Allianz Basic Insurance coverage, one among India’s main normal insurers. With this launch, over 230 million registered PhonePe customers can now insure their automobiles seamlessly in underneath 2 minutes, with out the necessity for any paperwork to be uploaded earlier than the acquisition and in addition view their coverage paperwork immediately on the app. PhonePe’s Automobile and Bike insurance coverage merchandise are additionally among the many most inexpensive ones accessible out there right this moment.
What can be noteworthy is that PhonePe’s Automobile and Bike insurance coverage clients can get hassle-free renewals, cashless restore providers at an in depth countrywide community of garages and prompt declare settlement inside 20 minutes. PhonePe customers may also customise their Automobile insurance coverage plan primarily based on their wants with a variety of value-added choices equivalent to Zero Depreciation, 24X7 Roadside Help and engine safety amongst others. Zero depreciation helps defend the automobile whatever the annual depreciation within the worth of its elements and pays for your complete declare quantity, thereby limiting out-of-pocket bills for the customers.
PhonePe customers can get their bikes and automobiles insured in a number of easy steps. All they should do is to go to the “My Cash” part of the app (each Android & iOS) and go to the “Insurance coverage” part. Each Automobile & Bike insurance coverage merchandise will probably be seen underneath the Motor Insurance coverage part. Clients simply want to pick the specified insurance coverage protection for his or her automobile, replenish the main points and make the fee.
Commenting on the launch, Gunjan Ghai, VP & Head of Insurance coverage at PhonePe stated, “We’re delighted to launch Automobile and Bike insurance coverage merchandise for our customers. That is consistent with our purpose to be a one-stop vacation spot for all insurance coverage wants of our clients, We imagine there may be large headroom for development within the motor insurance coverage phase as two-wheelers account for 70% of the automobiles within the nation and a bulk of those are uninsured. With our attain and customer-first method, we’re providing a easy, fast and handy approach to purchase motor insurance coverage whereas additionally enabling easy renewals. We stay deeply dedicated to creating insurance coverage inexpensive and accessible for our over 230 million customers and will probably be launching many new merchandise within the close to future.”
Sharing his perspective, Sourabh Chatterjee, President & Head – IT, Net Gross sales & Journey at Bajaj Allianz Basic Insurance coverage stated, “Motor insurance coverage is important and offers safety throughout accidents. Nonetheless, we’ve got many automobiles throughout India, each two-wheelers and four-wheelers, that are both not insured or are underinsured. At Bajaj Allianz Basic Insurance coverage, our endeavour has all the time been to supply insurance coverage merchandise out there which might be easy, simple to grasp, buy and declare for our clients. Our partnership with digital platform suppliers are one other small however large step in that route and therefore we’re very excited with this launch. We will probably be arising with extra new and revolutionary merchandise on this platform sooner or later.”