Aegon Life, MobiKwik Join Hands For ₹20 Digital Insurance Product

Aegon Life Insurance has tied up with MobiKwik for a ₹20 digital insurance product. Available only on the MobiKwik App, the Aegon Life Group Term Plus Plan will offer both death and accidental disability benefits.

The product will have three variants of different sums assured of ₹1 lakh, ₹1.5 lakh and ₹2 lakh, which are bundled with an additional ₹1 lakh, ₹1.5 lakh and ₹2 lakh of accident disability. The policy can be availed at a premium of ₹20, ₹30 and ₹40.

For the purpose, digital wallet and fintech player MobiKwik has created a fully digital in-app purchase flow on its app, which will also enable the policy to be issued instantly.

Vineet Arora, MD and CEO, Aegon Life Insurance, said: “Since the process is entirely digital, the onboarding of the customer happens in a couple of minutes with immediate issuance of the cover. With this partnership, we expect to expand the reach for term insurance solution.”

Upasana Taku, Co-Founder and Chief Operating Officer, MobiKwik, said insurance as a vertical has been one of the star performers of the firm and is growing exponentially month over month.