One97 Communications’ arm intensifies focus on insurance distribution to Paytm consumers

27 May 2024 Evaluate

One97 Communications’ (Paytm) wholly-owned subsidiary -- Paytm Insurance Broking (PIBPL) has intensified its focus on insurance distribution to Paytm consumers and small merchants & SMEs. The company aims to offer small ticket, innovative insurance solutions across various general insurance categories, including Health, Life, Motor, Shop, and Gadgets.

As India’s leading financial services distribution platform focusing on growing its insurance distribution business, Paytm General Insurance (PGIL), an associate entity of One97 Communications, will be moving its focus away from the capital-intensive insurance manufacturing business and withdrawing its general insurance license application. This will also enable One97 Communications to conserve cash of Rs 950 crore, which was earmarked for investment in PGIL.

PIBPL has also strengthened its partnerships with prominent insurance companies such as Digit, Acko, ICICI Lombard, New India, Bajaj Allianz, TATA AIG, Aditya Birla Health, and Universal Sompo among others. It offers embedded insurance products that seamlessly integrate into users' lives, and provide coverage for health, life, vehicle, mobile screen damage, loss from cyber fraud, EMI protection, and job loss. It also provides insurance covers for merchants pan-India including shop, business interruption, and health insurance ensuring business continuity.

One97 Communications (Paytm) is India's leading digital ecosystem for consumers as well as merchants.


One97 Communications Share Price

976.20 30.95 (3.27%)
23-Dec-2024 10:05 View Price Chart
Peers
Company Name CMP
One97 Communications 976.20
Infibeam Avenues 25.84
One Mobikwik Systems 498.60
Zaggle Prepaid Ocean 534.75
PB Fintech 2110.05
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.