ETMoney of Times Internet has launched an exclusive data-led group term insurance plan in partnership with HDFC Life. It claims this is India’s first term insurance plan that is based on the spend pattern of the users.
“This plan will be offered as an exclusive benefit to more than 1 million ETMoney users and will provide coverage between Rs 25 lakhs to Rs 50 lakhs, calculated based on the user’s spend pattern”, officials having knowledge of this said.
“Young earners in India are significantly under insured. The term plan is designed grounds up for this segment and it acts as a simple, paperless & cost effective way to start their insurance journey. Partnering with an Industry leader like HDFC Life substantiates our data-led, mobile-first approach and we are proud to work with HDFC Life to design this digital policy” said ETMoney COO Mukesh Kalra.