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MobiKwik, a leading digital financial services platform, has rolled out digital insurance on its app. In the first phase, MobiKwik users can purchase accident insurance. It will partner leading insurance companies to offer an extensive range of products to its users.
Buying insurance will be a paperless, two-step process and issuance of the policy will be instant. Users can purchase insurance either via the app or the MobiKwik website.
Upasana Taku, Co-founder and Director, MobiKwik said: “We are confident of disrupting the insurance market with our product portfolio. We are targeting 1.5 million policies by the end of the current financial year”.
She also said MobiKwik users will be able to choose and purchase from a range of life insurance and general insurance products. The user will be suggested the right insurance product, selected on the basis of self-profiling of the customer, advanced data analytics and an artificial intelligence algorithm.
This (digital insurance) is the third big launch in the financial services space by MobiKwik this year.
MobiKwik had recently launched the buying and selling of digital gold in partnership with SafeGold. It had also declared its entry into the wealth management business with the 100 per cent acquisition of Clearfunds, an online wealth management platform based out of Mumbai.
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