Digital payments app PhonePe has tied-up with Bajaj Allianz General Insurance to offer international travel insurance products on attractive terms. On the one hand, the company is ready to offer travel insurance cover of up to $1 million with premiums starting from Rs 216.
PhonePe is obviously the first digital payments company to offer international travel insurance on its platform.
Some of the other important features of the international travel insurance policies offered through PhonePe include free cancellation of policies before the date of the journey with 100% refund. The policies can cover 220 countries and PhonePe has established a 24/7 customer support infrastructure that will be available across all these countries.
Frequent travellers can save their policy information within the mobile app and make repeat purchases of policies when they undertake their next journey. The attempt is to make the whole process simple and easy for the customers. Both business travellers and leisure travellers can use this international travel insurance facility.
PhonePe has now stated that it intends to offer more financial products through the year making it convenient for the users of their payments app to purchase these products directly from the app. The company will enter into partnerships with the domain expert organisations in bringing these products to the customers, similar to the Bajaj Allianz partnership.
â€śOur travel insurance product is an indication of our commitment to providing business and leisure travelers with insurance coverages that are convenient to not only buy but also self-service. We believe our travel insurance offering is empowering for customers, especially when they can carry their policy on their mobile while abroad. We are actively working with reputed insurance partners to introduce new categories of insurance products so that PhonePe customers will have to look no further than the PhonePe app for all their insurance needs,â€ť Gunjan Ghai, Head of Insurance, PhonePe said.
Within the travel insurance cover itself more variants of the policies will be introduced, PhonePe says.