Kotak Life Insurance,InstantPayjoin hands to tap a billion uninsured Indians
InstantPay, one of India’s largest inclusive and neo Banking platform, has entered into a strategic partnership with Kotak Mahindra Life Insurance Company Limited to reach out to the billion uninsured and underbanked population of India, including the urban migrant. This alliance will not only bring insurance to the first time consumers but will also digitally empower the semi-urban sections of the society. InstantPay will deploy its extensive network of more than 1 lakh merchants to distribute Kotak Life Insurance’s products via the InstantPay portal or app, which have an annual premium as low as RS 200! Piyush Trivedi, Senior EVP – Sales, Alternate Channelat Kotak Mahindra Life Insurance Co. Ltd.said, “The next billion uninsured Indians remains a frontier waiting to be tapped by life insurers in India. It will require the right mix of products, processes and distribution to make a dent in this virtually unpenetrated segment. We believe that Kotak Life insurance has the right set of