With Paytm looking to get into the insurance game, other payment players would obviously also be gunning for services in this space. MobiKwik has today announced the launch of its digital insurance services on mobile and web.
“MobiKwik users will be able to choose and purchase from a range of life insurance and general insurance products. The user will be suggested the right insurance product, selected basis self- profiling of customer, advanced data analytics and artificial intelligence algorithm,” the company’s statement said.
Upasana Taku, Co-founder and Director, MobiKwik believes the low penetration of insurance in India gives the company a good chance to breakthrough into this space. Taku said digital insurance to the mass market has been ignored by banks, distributors and even online companies. “We aim to cater to over 150 mn mass and emerging affluent customers through our product range. We are confident of disrupting the insurance market with our product portfolio,” she said.
