PhonePe sees rising demand for COVID-19 insurance with increasing cases

PhonePe has recently stated that Corona Virus insurance has seen widespread adoption lately with 75% of its policies bought by customers in smaller towns outside the tier-1 cities. The top states contributing to sales include Maharashtra, Andhra Pradesh, Karnataka, Gujarat, and Telangana.

PhonePe offers affordable COVID-19 insurance policies in association with Bajaj Allianz General. The claims of more than Rs. 3.5 crore have already been paid.

Gunjan Ghai, Vice President and Head of Insurance, PhonePe, stated, “The last few weeks have seen resurgence in COVID-19 cases across the country. Many Indians still do not have health insurance covers as a result of which they may have to bear an additional financial burden in case someone in their family needs to be hospitalised for COVID-19.”

“Keeping this in mind, we are one of the very few players in the market today who continue to offer Corona Virus insurance product for our vast base of users,” she further added.