wordpress blog stats
Connect with us

Hi, what are you looking for?

MobiKwik launches an insurance product; targets 1.5M policies

MobiKwik has launched accidental insurance on its mobile website and app, and plans to  introduce general and life insurance products. The company will partner with insurance companies to launch more schemes, but did not mention a timeline for this. MobiKwik co-founder and CEO Upasana Taku said that it was targeting getting 1.5 million policies by the end of FY 2019. In a statement, MobiKwik said that users can buy an insurance cover of Rs 1 lakh for Rs 20. The user will be suggested insurance schemes/products on the basis on their profile, analysis of data, and an AI algorithm. MobiKwik currently claims to have 107 million users, 3 million listed merchants, and 140 billers. Last week, MobiKwik let go of nearly 200 employees, shut down two offices and scaled back its retail business. The company has been diversifying into lending and other services for several months now. After MobiKwik downsized last week, a payments expert told MediaNama that ‘payments was never the money maker. The data that drove it was supposed to become a key asset in providing on-the-top services like lending and insurance.’ Financial services Here are some of the financial products MobiKwik has launched in the last few months: Digital gold for sale in partnership with SafeGold, launched in October Instant loans service 'Boost' launched in October Acquired mutual funds platform Clearfunds for undisclosed amount, will invest $15 million in it Launched credit card payments service in August Launched instant loans service for upto Rs 5,000 In June, it had invested Rs 2 crore in…

Please subscribe/login to read the full story.
Written By

I cover health, policy issues such as intermediary liability, data governance, internet shutdowns, and more. Hit me up for tips.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

News

RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.

News

Both the IT Minister and the IT Minister of State have chosen to avoid the actual concerns raised, and have instead defended against lesser...

News

The Central Board of Film Certification found power outside the Cinematograph Act and came to be known as the Censor Board. Are OTT self-regulating...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ