Paytm, which enables online premium payments for over 30 insurance companies, aims to achieve a run rate of 30–40 million policies by the end of the year. With this association, customers can now make LIC insurance premium payments on the platform in under a minute.
The platform provides online insurance premium payment solutions for over 30 insurance companies including LIC, ICICI Prudential Life, Reliance Life, Max Life Insurance, HDFC Life, TATA AIA, SBI Life, Aditya Birla Sun Life, Canara HSBC Life Insurance, Shri Ram Life, and Star Health.
Earlier in 2018, One97 Communications, owner of Paytm, has announced its partnership with Visa, to enable Visa credit card payments across banks on the Paytm app.
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