The service is exclusively available for PhonePe users and provides annual insurance cover for unlimited trips in India.

In a statement, PhonePe said this solution will avoid the need for people to insure every trip separately and will benefit both business and leisure travellers.

PhonePe noted that for domestic travellers, an all-in-one insurance product offers a comprehensive set of benefits that cover losses arising from trip cancellations, home burglary while travelling, missed connecting flights and lost baggage, among others.

The platform said it also caters to the needs of customers who prefer buying domestic travel insurance every time they book a ticket or a cab. With 365-day protection at Rs 499, it covers all modes of transport.

Gunjan Ghai, Vice President and Head of Insurance at PhonePe, said: “This product reflects PhonePe’s philosophy of finding time and context-relevant products for its customers. We are excited to launch this unique and industry-first insurance cover for domestic travellers.

“The product offers cover for all modes of transport for unlimited trips in a year while also providing very relevant features in the current unlock 1.0 scenario. We believe this solution will provide policyholders peace of mind so that they can focus on enjoying their travel without any worry. We remain deeply committed to making insurance affordable, simple, and accessible for over 200 million PhonePe users.”