Liberty General Insurance Ltd, one of the leading general insurance companies in India, strengthened its partnership with PhonePe to offer motor insurance digitally. Through PhonePe, Liberty General Insurance’s motor insurance policy provides easy accessibility to the motor insurance cover, especially to the digitally savvy generation. In 2020, PhonePe ventured into distribution of insurance and has become one of India’s fastest growing digital distributors with sale of over 5 lakh policies in 5 months.
Speaking on the development, Mr. Roopam Asthana, CEO & Whole Time Director, Liberty General Insurance said, “With this partnership, Liberty General Insurance strengthens its tie-up with PhonePe to empower their customers with the best protection cover in today’s digital era. Liberty General Insurance has a comprehensive bouquet of insurance products that distinguishes itself from the existing gamut of motor insurance products in the market.
Speaking on the partnership, Gunjan Ghai, VP & Head of Insurance, PhonePe said, “We are delighted to partner with Liberty General Insurance to provide motor insurance products to our 32+ crore users. PhonePe users can choose from multiple motor insurance products on our platform and purchase seamlessly in a few clicks. We are committed to build PhonePe as a one-stop destination for all insurance needs and this partnership is another step in that direction.”
About Liberty General Insurance:
Liberty General Insurance Ltd. (LGI) is a joint venture between Liberty Citystate holdings PTE Ltd—a group company of Liberty Mutual Insurance Group, a diversified global insurer with over 900 offices across the world, headquartered in the U.S. —Enam Securities, and Diamond Dealtrade. LGI commenced operations in 2013 with the aim of providing comprehensive retail, commercial and industrial insurance solutions. The company has an employee strength of 1100+ with presence across 100+ locations in 29 states and UT. Its partner network consists of about 5100+ hospitals and more than 4300 auto service centres. The company offers health and personal accident insurance, car and two-wheeler insurance, employee compensation insurance, commercial insurance, fire and engineering insurance, marine insurance and other miscellaneous insurance products in India.http://www.libertyinsurance.in/
PhonePe is India’s leading digital payments platform with over 325 million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold and make investments. 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 securely on its platform. PhonePe has since launched 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 over 22 million merchant outlets across India.