Now, insurance online

Now, insurance online
Highlights

Now, insurance online. Mobile payments wallet Paytm on Thursday said it has partnered major insurance companies to offer online premium payments and is targeting premium payments of Rs 1,000 crore by the end of the fiscal.

Paytm to facilitate premium payments

Mumbai : Mobile payments wallet Paytm on Thursday said it has partnered major insurance companies to offer online premium payments and is targeting premium payments of Rs 1,000 crore by the end of the fiscal.

Insurance companies ICICI Prudential Life, Religare Health, Reliance Life and Reliance General have partnered the Alibaba-backed company to assist consumers in paying their insurance premiums online.

"Our commitment is to provide users with simple and seamless payment experience. I strongly believe that we will be able to increase the renewal rate for the insurance companies," Senior Vice President of Paytm Kiran Vasireddy said.

Paytm is going live with over 15 companies by the end of next quarter and over 100 million registered users of Paytm can now pay their insurance premiums on-the-go. It also plans to offer consumers deals if they opt for this particular medium to pay their renewal premiums.

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