New Delhi: Flipkart-owned PhonePe on Wednesday launched car and bike insurance products on its platform in association with Bajaj Allianz General Insurance.
With this launch, over 230 million registered PhonePe users can now insure their vehicles seamlessly in under 2 minutes, without the need for any documents to be uploaded before the purchase and also view their policy documents instantly on the app, a statement said.
PhonePe users can also customise their car insurance plan based on their needs with a range of value-added offerings such as zero depreciation, 24X7 roadside assistance and engine protection among others, it added.
“This (launch) is in line with our goal to be a one-stop destination for all insurance needs of our customers. We believe there is tremendous headroom for growth in the motor insurance segment as two-wheelers account for 70 per cent of the vehicles in the country and a bulk of these are uninsured,” Gunjan Ghai, VP and Head of Insurance at PhonePe, said.