Paytm to Offer Rs 5 Lakh Insurance Cover to Merchant Partners
India’s largest digital wallet company Paytm will now start offering life insurance cover of up to Rs 5 lakh to its offline partners and their staffs. One97 Communications, the parent company of Paytm, said that this effort will help in giving a push towards realizing India’s vision of the digital economy.
Paytm will offer life insurance cover through its newly formed entity Paytm Life Insurance Corporation Ltd, which was established in February this year. This newly formed entity will offer life insurance cover in partnership with the existing life insurance player. The name of this life insurance player has not been disclosed by Paytm.
IRDA, the insurance regulatory body had granted Paytm the corporate license to sell insurance products in 2017. The license is reportedly valid only...