Edelweiss General Insurance (EGI), one of India's fastest growing InsurTechs, has partnered with PhonePe, a market leader in the digital payments space, to offer quick and easy, digital motor insurance products to all its customers. The partnership will help EGI reach out to PhonePe's vast and growing network of customers and offer them simple, end to end digital solutions in the motor insurance segment.
PhonePe customers can now purchase EGI's motor insurance policy in just a few clicks with Zero paperwork. Not only this, customers can also opt for add-on benefits like depreciation protect, engine protection, consumable expense protect, roadside assistance, key and lock protect, to suit their individual needs.
Shanai Ghosh, Executive Director & CEO, Edelweiss General Insurance, said, "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."
Speaking on the partnership, Gunjan Ghai, VP & Head of Insurance, PhonePe said, "We are delighted to partner with Edelweiss General Insurance to provide digital motor insurance products to our 33+ crore registered users. 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."
Edelweiss General Insurance has launched on-demand, need-based, bite-sized insurance products, and is co-creating compelling propositions in partnership with some of the best brands in the digital ecosystem. The company has an extensive omnichannel digital distribution platform, combining its owned digital platforms and marketplaces.
Shares of Edelweiss Financial Services Limited was last trading in BSE at Rs. 68.85 as compared to the previous close of Rs. 71.60. The total number of shares traded during the day was 232329 in over 2289 trades.
The stock hit an intraday high of Rs. 71.20 and intraday low of 67.75. The net turnover during the day was Rs. 15940528.00.