Insurance Premium

Over 11 Million Insurance Premiums Paid Using PhonePe in 2020

PhonePe provides customers the added convenience of instantly-downloadable payment receipts for insurers to enable them to avail tax benefits in addition to zero convenience fees. This has resulted in PhonePe sustaining high premium payment volumes in this category since its launch. PhonePe also saw a massive spike in premium payments during the lockdown as users chose not only to pay premiums for their own policies, but also for their families and friends.