PhonePe Insurance Broking Services announced the launch of health insurance plans (18/07/2023) 

July 18th, 2023

Insurance Broking

PhonePe Insurance Broking Services, today announced the launch of health insurance plans offering comprehensive insurance in partnership with leading insurers.  What sets these health insurance plans apart is the introduction of the UPI monthly mode of payment, making them more affordable for customers. PhonePe has been at the forefront of driving Insurance penetration in the country by selling more than 5.6 million policies till date. PhonePe Insurance platform has also sold policies across 98% of India’s PIN codes and has served more than 200 Mn vehicle insurance quotes. 

These health insurance plans, which come with coverage up to Rs.1 crore, allow users to choose any hospital room without any cap/limit. A user can also avail of innovative features like a bonus cover up to 7 times the base cover amount for each claim-free year.  The Health Insurance plans being offered by PhonePe Insurance Broking are accompanied by pre and post-sales assistance to help users make informed decisions, file claims, and access other services. 

Commenting on the launch, Hemant Gala, Vice President of Financial Services at PhonePe said, “One of the biggest barriers in buying Health Insurance has been affordability and we have solved the same by creating India’s first Health Insurance marketplace focused on monthly payments. We believe this will drive deep penetration with users being able to pay in monthly subscriptions with a much lower financial burden.’’ 

Purchasing Health Insurance on PhonePe is simple and easy. All a user needs to do is:

1. Enter basic details for all the members you want to insure.
2. Proceed to the quotes page, select the desired quote, and move to the next page to enter personal and health details.
3. Review the information and either set up your monthly mandate or pay annually

About PhonePe Insurance Broking Services Pvt. Ltd. 

PhonePe Insurance Broking Services is a wholly owned subsidiary of PhonePe Pvt. Ltd. and is registered with IRDAI as a Direct Broker (Life and General)  under Reg. Certificate No. 766 (Valid till 10/08/24).

About PhonePe

PhonePe was founded in December 2015 and has emerged as India’s largest payments app, enabling digital inclusion for consumers and merchants alike. With 47+ crore (470+ Million) registered users, one in four Indians are now on PhonePe. The company has also successfully digitized 3.5+ crore (35+ Million) offline merchants spread across Tier 2,3,4 and beyond, covering 99% of pin codes in the country. PhonePe is also the leader in Bharat Bill Pay System (BBPS), processing over 45% of the transactions on the BBPS platform. PhonePe forayed into financial services in 2017, providing users with safe and convenient investing options on its platform. Since then, the company has introduced several Mutual Funds and Insurance products that offer every Indian an equal opportunity to unlock the flow of money and access to services. PhonePe has been recognized as the Most Trusted Brand for Digital Payments as per the Brand Trust Report for two consecutive years (2022 & 2023) by Trust Research Advisory (TRA).

Phonepe Company Profile

PHONEPE FINANCE PRIVATE LIMITED is a Private Company, Which CIN Number is U65999KA2021PTC151118, was incorporated 1 Year(s) 10 Month(s) 28 Day(s) ago on dated 27-Aug-2021. PHONEPE FINANCE PRIVATE LIMITED is classified as a Non-govt company and is registered at the Registrar of Companies located in RoC-Bangalore. As regarding the financial status at the time of registration of PHONEPE FINANCE PRIVATE LIMITED Company its authorized share capital is Rs. 100000000 and its paid-up capital is Rs. 99000000. As Per Registration of the Company, It involves under Business Activity Class / Subclass Code 65999, Main Activity of the said Company PHONEPE FINANCE PRIVATE LIMITED is: Other financial intermediation n.e.c. (Provident and insurance services are classified in division 66.), It Comes Under Division FINANCIAL INTERMEDIATION, EXCEPT INSURANCE AND PENSION FUNDING and this comes under the section FINANCIAL INTERMEDIATION.

The registration number of this company is 151118. Its Email address is ankit.popat@phonepe.com and its registered address is where Company is actually registered: Office-2, Floor 4,5,6,7,Wing A, Block A, Salarpuria Softzone, Bellandur. For any Query You can reach this company by email address or Postal address.

Directors of PHONEPE FINANCE PRIVATE LIMITED are Hemant Manilal Gala, RAGHUPATHY KARTHIK

Registered Address

PhonePe Private Limited
(Formerly known as FX Mart Private Ltd. ),
Unit No.001, Ground Floor, Boston House,
Suren Road, Off. Andheri-Kurla Road,
Andheri(East) Mumbai, Maharashtra, India, Pincode- 400093
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Mailing Address

PhonePe Private Limited
Office-2, Floor 4,5,6,7, Wing A, Block A,
Salarpuria Softzone, Service Road,
Green Glen Layout, Bellandur
Bengaluru, Karnataka-KA, Pincode- 560103

Note:

Fx Mart Private Limited is a private limited company based in Zirakpur, India and it was incorporated officially on 18/12/2012. The corporate identification number (CIN) of this company as per the official records is U67190PB2012PTC036950 and the company registration number is 036950.