PhonePe Launches Health Insurance platform With Monthly Subscriptions

PhonePe Insurance Broking Services, on Tuesday, said that it has launched a health insurance plan offering comprehensive insurance in partnership with leading insurers.  

Hemant Gala, Vice President - Financial Services at PhonePe said, "One of the biggest barriers in buying Health Insurance has been affordability and we have solved the same by creating India’s first Health Insurance marketplace focused on monthly payments.’’

He said that this will drive deep penetration with users being able to pay in monthly subscriptions with a much lower financial burden.

These health insurance plans, which come with coverage up to Rs one crore, allow users to choose any hospital room without any cap/limit. A user can also avail of innovative features like a bonus cover of up to 7 times the base cover amount for each claim-free year.  The Health Insurance plans being offered by PhonePe Insurance Broking are accompanied by pre and post-sales assistance to help users make informed decisions, file claims, and access other services.

PhonePe has been at the forefront of driving Insurance penetration in the country by selling more than 5.6 million policies to date. PhonePe Insurance platform has also sold policies across 98 per cent of India’s PIN codes and has served more than 200 million vehicle insurance quotes.