Financial Services
Flipkart revives its insurance game; pine labs' revenue jumps; losses balloon
30 Oct 2023
In
2018, Flipkart had bagged a corporate (composite) insurance agent licence from
the Insurance Regulatory & Development Authority, which allowed it to sell
life, three non-life, and three standalone health policies.
Flipkart
now offers a range of standalone insurance products, including two-wheeler,
four-wheeler and health insurance, from multiple insurers via Coverfox.
The
ecommerce company may face challenges in distributing complex life and health
insurance as a significant portion of the population still prefers traditional
banks and agents, says Vishal Bhave of Praxis Global Alliance.