beneficial to the current generation. According to the firm, PhonePe entered the insurance distribution business in 2020 and has emerged as one of the rapidly developing digital distributors in India, having sold over 5 lakh policies in five months.
Roopam Asthana, CEO & whole-time director of Liberty General Insurance, expressed optimism over the partnership. He 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”.
Gunjan Ghai, Vice President & Head of Insurance of PhonePe, expressed delight over the collaboration. He 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 building PhonePe as a one-stop destination for all insurance needs and this partnership is another step in that direction.”
PhonePe entered into financial services in 2017 with the introduction of Gold, which offers customers a safe and simple alternative to buy 24-karat gold safely on its platform. According to the media, PhonePe has subsequently offered many Mutual Funds and Insurance products including tax-saving funds, liquid funds, foreign travel insurance, life insurance, and insurance for the COVID-19 pandemic.
