Liberty General Insurance has recently announced that it has partnered with PhonePe to offer motor insurances digitally. Through PhonePe, a digital paymets app, Liberty General Insurance’s motor insurance policy aims to provide easy accessibility to the motor insurance cover, especially to the digitally savvy generation. Motor Insurance, or car insurance, provides one with the monetary cover that he or she needs during an accident. While driving, especially if one is alone in an emergency, the right cover is important. Car insurances can be done for both four-wheelers as well as two wheelers. It is mandatory for every customer to get an insurance cover when they buy cars or bikes.
PhonePe, which has entered the sector for distribution of insurance, has become one of India’s fastest growing digital distributor with sale of over five lakh policies in five months. With the Liberty General motor insurance, customers will be able to access a number of benefits digitally. The four-wheeler insurance provides customers with hassle-free and cashless claims, seamless claim assistance, easy policy renewal techniques, smooth services and additional protection availability.
Liberty General Insurance Ltd. is a joint venture between Liberty Citystate holdings PTE Ltd—a group company of Liberty Mutual Insurance Group, a diversified global insurer with over 900 offices across the world, headquartered in the U.S. —Enam Securities, and Diamond Dealtrade. LGI commenced operations in 2013 with the aim of providing comprehensive retail, commercial and industrial insurance solutions. The company has an employee strength of over 1,100 with presence across over 100 locations in 29 states and UT. Its partner network consists of more than 5,100 hospitals and more than 4,300 auto service centres. The company offers health and personal accident insurance, car and two-wheeler insurance, employee compensation insurance, commercial insurance, fire and engineering insurance, marine insurance and other miscellaneous insurance products in India.
Speaking on the development, Roopam Asthana, CEO & whole time director, Liberty General Insurance said, “With this partnership, Liberty General Insurance strengthens its tie-up with PhonePe to empower their customers with the best protection cover in today’s digital era. Liberty General Insurance has a comprehensive bouquet of insurance products that distinguishes itself from the existing gamut of motor insurance products in the market.”
“We are delighted to partner with Liberty General Insurance to provide motor insurance products to our 32+ crore users. PhonePe users can choose from multiple motor insurance products on our platform and purchase seamlessly in a few clicks. We are committed to build PhonePe as a one-stop destination for all insurance needs and this partnership is another step in that direction,” said Gunjan Ghai, VP and head of insurance at PhonePe.
PhonePe is India’s leading digital payments platform with over 325 million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold and make investments. The company forayed into financial services in 2017 with the launch of gold, providing users with a safe and convenient option to buy 24-karat gold securely on its platform. PhonePe has since launched several mutual funds and insurance products like tax-saving funds, liquid funds, international travel insurance, life insurance, and insurance for the COVID-19 pandemic among others. PhonePe is also accepted at over 22 million merchant outlets across India.
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