Digital payments platform PhonePe has further strengthened its insurance portfolio. The company has now expanded into car and bike insurance segment in tie-up with Bajaj Allianz General Insurance. PhonePe had forayed into insurance vertical beginning with travel insurance back in January this year followed by Coronavirus insurance in April with Bajaj Allianz General Insurance. Walmart-owned Flipkart had also entered into car and two-wheeler insurance market in May this year after offering life and Covid-19 health insurances. Later in July, Amazon’s payment arm Amazon Pay followed suit by offering two and four-wheeler insurance policies in partnership with car and bike insurance startup Acko General Insurance.
PhonePe, which claimed of over 230 million registered users, said that car and bike insurance