Consumers, whether travelling for business or leisure, can buy travel insurance using the PhonePe app. Documentation and profiles can be saved on the app in order to make future purchases more efficient; additionally, the plan offers instant refunds with no cancellation charge before the policyholder’s travel start date, and 24/7 international travel assistance.

“At PhonePe, we are working with the goal to simplify financial products and drive access to those solutions to millions of our customers,” said Hemant Gala, Head of Payments, Banking and Financial Services at PhonePe. “We would be offering a wide range of unique financial products through this year as we go deeper into understanding consumer needs and solving them through strong partnerships in the industry.”

The company’s Head of Insurance Gunjan Ghai added: “Our product is an indication of our commitment to providing business and leisure travellers with insurance coverages that are convenient to not only buy but also self-service. We believe our travel insurance offering is empowering for customers, especially when they can carry their policy on their mobile while abroad. We are actively working with reputed insurance partners to introduce new categories of insurance products so that PhonePe customers will have to look no further than the PhonePe app for all their insurance needs.”

In the last year, PhonePe has also launched a new savings product and a wealth management solution.