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PhonePe’s insurtech bet: Sells 90 lakh insurance policies in past 2 years

Inc42 · 1y

PhonePe, a fintech startup, has sold over 90 lakh insurance policies since entering the space in September 2021. The company also claims to have facilitated more than 7.5 crore vehicle insurance quotes and 40 crore quotes across its overall insurance portfolio. This growth is attributed to strategic partnerships with insurance players and customized offerings for customers. The insurtech market is projected to reach $339 billion by 2025, making it a lucrative opportunity in the fintech sector. PhonePe is aggressively expanding its services as it aims to become a leading fintech super app.