Edelweiss General Insurance (EGI) has teamed with PhonePe, a fintech business specializing in digital payments, to provide all of its customers with quick and easy digital motor insurance solutions. EGI will be able to reach out to PhonePe's large and growing customer base and provide them simple, end-to-end digital solutions in the auto insurance area as a result of the partnership.

Customers of PhonePe can buy EGI's auto insurance policy with just a few clicks and no paperwork. Customers can also choose from a variety of add-on advantages, such as depreciation protection, engine protection, consumable expense protection, roadside assistance, and key and lock protection, to meet their specific requirements.

EGI has also launched need-based, bite-sized insurance solutions and is working with some of the greatest companies in the digital ecosystem to co-create appealing propositions. Combining its owned digital platforms and marketplaces, the corporation has a large omnichannel digital distribution platform.

Previously, EGI partnered with a number of Internet economy organizations and small and medium enterprises (SMEs) for group health plans, and feels that the category has a lot more demand, particularly for Covid care covers. For such businesses, the insurer offers its own group corona policies as well as choices such as a fixed benefit plan.

“We have identified a target segment for our group health policies, which are smaller startups and SMEs. International trends show that large companies manage it themselves as the numbers are so large. The segment we are going after is SME and start-up companies with less than 1,000 employees”, says Shanai Ghosh, Executive Director and CEO, Edelweiss General Insurance.

“There are several such internet economy startups where we have partnered with them to provide health cover for their employees and associates”, unveils Ghosh. “Health has been a focus for us since day 1, while noting that the Covid-19 pandemic will continue to challenge our profit and loss and pricing”.

Back to PhonePe’s partnership, Ghosh claims that, “this partnership with PhonePe is a very strategic one for us. It is in sync with our philosophy of providing customers with digital solutions that are easy, friendly, and transparent, to protect what they love. We are excited to be part of PhonePe’s platform to connect and engage with customers seeking smart and convenient motor insurance solutions”.

“PhonePe users can now choose from multiple motor insurance products on our platform and purchase insurance that best suits their needs seamlessly in just a few clicks. Our vision is to be a one-stop destination for all the insurance needs of our customers and this partnership is another step in that direction”, adds Gunjan Ghai, VP & head of insurance, PhonePe.