ICICI Prudential Life Insurance, has signed an agreement with Paytm for distribution of its protection product – ICICI Pru iProtect Smart. Paytm is the country’s largest mobile payment solutions provider with over 400 million users.
The two organizations have integrated their digital platforms to offer ICICI Prudential’s flagship protection product on the Paytm app. Users who have already completed their KYC authentication at Paytm can take advantage of a paperless on-boarding experience and make an in-app purchase of the product in a matter of minutes.Puneet Nanda, Deputy Managing Director, ICICI Prudential Life Insurance said, “we are happy to partner with Paytm, the country’s largest mobile payment solutions provider. It is the coming together of two organisations which work on the ethos of customer centricity by leveraging technology. Term insurance is a crucial component in any customer’s portfolio, this tie-up provides a convenient route for Paytm users to quickly purchase life insurance and fulfill their responsibility of providing financial security to their families. We will continue to deploy technology to simplify and provide easy access to purchase life insurance. Today’s customers are digital natives and this partnership enables us to be present on their preferred platform for transacting.”Amit Nayyar, President – Paytm said, “At Paytm, we are working tirelessly to digitally empower all Indians to transact conveniently and in a secured manner. We are deeply focused on offering innovative and customized insurance solutions to our millions of customers through a seamless journey from purchase to claim. We are pleased to partner with ICICI Prudential Life for their protection products, which will help our users to opt for a policy as per their requirement with the convenience of Paytm.”