PhonePe sees rapid demand for Coronavirus insurance products as cases rise

The claims from customers of more than Rs 3.5 crore have already been paid

With Covid-19 cases rising across the country, Walmart-owned digital payments firm PhonePe is witnessing an increasing trend related to the adoption of its Coronavirus (Covid-19) insurance product launched last year. The analysis of sales and claims data over the past year showed that Coronavirus insurance has seen widespread adoption with 75 per cent of policies bought by customers in smaller towns outside the tier-1 cities. These mainly include users in smaller towns and rural areas of the country.

“The last few weeks have seen a resurgence in Covid-19 cases across the country. While the central and state governments are taking several