WhatsApp to launch insurance and pension products
WhatsApp is mulling to launch health insurance and other pension-related products in India soon. As part of this, it is planning to tie-up with financial services players.
WhatsApp has a huge user base in India. It has as many as 400 million users in the country. Hence, the social media messaging app wants to make use of them to promote its business activities. Earlier, WhatsApp started payments services in the country.
Now, it wants to extend its business. That’s why it is working to associate with leading financial institutions to roll out insurance and pension products.
Abhijit Bose, head of India for WhatsApp said that the company would launch micro-pension and insurance products by the end of this year. It has decided to partner with SBI General Insurance to offer health insurance plans at a reasonable price.
He added that insurance products like life and health will help people meet unforeseen expenses and provide them with financial security.
Besides, WhatsApp is planning to offer micro-pension products for which it has partnered with HDFC Pension Management. In addition to that, retirement plans are also offered in association with PinBox. WhatsApp aims to provide these plans to all users across the country irrespective of their income.
As healthcare expenses are increasing due to the prevalent conditions, many people are opting for insurance products.
PC Kandpal, CEO of SBI General, said that they want to provide customized and sachet health insurance products to people and ease the distribution channel.
In this regard, Sumit Shukla, CEO of HDFC Pension Management, said that WhatsApp is a secure platform and it tries to revolutionize the financial services.
Meanwhile, PhonePe, a digital wallet platform, claimed that it processed more than 11 million insurance premiums on its platform in the last year.
Image by M. H. from Pixabay (Free for commercial use)
You may also like
Image Reference: https://pixabay.com/illustrations/whatsapp-communication-smartphone-1357489/
Recent Posts
- RVNL Recruitment 2025 for manager and other posts
A total of 12 full-time vacancies are available at RVNL's corporate office in New Delhi. - Assam set to become India’s first state-level oil producerAssam is poised to become the first state government in the country to participate in oil production.
- Akash Prime missile scores direct hits in successful Ladakh trialsOn July 16, the Indian Army's Army Air Defence unit conducted successful trials of the Akash Prime missile in the Ladakh region. Developed by the Defence Research and Development Organisation (DRDO), the missile demonstrated high accuracy by delivering two direct hits on target during the exercise, according to defence sources.
WeRIndia – A News Aggregator
Visit werindia.com for all types of National | Business | World | Politics | Entertainment | Health related news and much more..
Opinion Polls
Loading ...
Leave a Reply