Edelweiss General Insurance (EGI), one of India’s fastest growing InsurTechs, has partnered with PhonePe, a market leader in the digital payments space, to offer quick and easy, digital motor insurance products to all its customers. The partnership will help EGI reach out to PhonePe’s vast and growing network of customers and offer them simple, end to end digital solutions in the motor insurance segment.
PhonePe customers can now purchase EGI’s motor insurance policy in just a few clicks with Zero paperwork. Not only this, customers can also opt for add-on benefits like depreciation protect, engine protection, consumable expense protect, roadside assistance, key and lock protect, to suit their individual needs.
Shanai Ghosh, Executive Director & CEO, Edelweiss General Insurance, said, “This partnership with PhonePe is a very strategic one for us. It is in sync with our philosophy of providing customers with digital solutions that are easy, friendly, and transparent, to protect what they love. We are excited to be part of PhonePe’s platform to connect and engage with customers seeking smart and convenient motor insurance solutions.”
Speaking on the partnership, Gunjan Ghai, VP & Head of Insurance, PhonePe said, “We are delighted to partner with Edelweiss General Insurance to provide digital motor insurance products to our 33+ crore registered users. PhonePe users can now choose from multiple motor insurance products on our platform and purchase insurance that best suits their needs seamlessly in just a few clicks. Our vision is to be a one-stop destination for all the insurance needs of our customers and this partnership is another step in that direction.”
Edelweiss General Insurance has launched on-demand, need-based, bite-sized insurance products, and is co-creating compelling propositions in partnership with some of the best brands in the digital ecosystem. The company has an extensive omnichannel digital distribution platform, combining its owned digital platforms and marketplaces.
About Edelweiss General Insurance
Edelweiss General Insurance (EGI) is a full stack Insurtech and one of the fastest growing players in the Indian non-life Insurance market. It is a digital Insurer that aims to transform insurance making it easy, friendly and transparent. Its digital platform powers fantastic customer experience, innovative solutions and efficient service delivery. It started operations in 2018 and has already won over 10 awards for product innovation and its digital platform. It is India’s first cloud native insurer and the first insurer to launch an open API platform. It has over 2 million active customers and a growing omni-channel distribution on digital rails. It has over 19 digital partners and presence across key digital marketing places.
Consumer insight driven strategy coupled with technology-powered execution is what differentiates EGI in a competitive market. It aims to deliver innovative solutions to customers by leveraging data, analytics and proactive market sensing.
PhonePe is India’s leading digital payments platform with over 340 million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments and buy and invest in gold and silver. PhonePe forayed into financial services in 2017 with the launch of gold providing users with a safe and convenient option to buy 24-karat gold, and recently also launched silver on its platform. PhonePe has since introduced several Mutual Funds and Insurance products like tax-saving funds, liquid funds, international travel insurance, life insurance, and insurance for the COVID-19 pandemic among others. PhonePe is also accepted at 25 million merchant outlets across India.