EaseMyTrip expands into insurance with new subsidiary launch
EaseMyTrip, renowned as India’s second-largest online travel tech platform, has taken a significant leap by launching its new subsidiary, EaseMyTrip Insurance Broker Private Limited. This strategic move marks the company’s venture into the insurance market, aiming to tap into an industry valued at INR 7.9 trillion. With a robust userbase of 20 million, EaseMyTrip is poised to make a substantial impact in this sector.
India’s Growing Insurance Industry
India, currently the fifth-largest life insurance market among the world’s emerging insurance economies, is experiencing rapid growth, with an annual increase rate of 32-34%. Projections estimate that the Indian insurance market could reach a staggering US$ 200 billion by 2027. This expansion of EaseMyTrip into the insurance sector is a testament to the brand’s commitment to enhancing customer satisfaction and broadening its service offerings.
EaseMyTrip enters insurance market, sets sights on growing industry
Setting New Business Horizons
EaseMyTrip Insurance Broker Private Limited has been established as a separate entity under the overarching brand. Nishant Pitti, the esteemed promoter of ETPL, steps in as the Director of this new venture. His expertise and leadership are expected to be crucial in navigating the company towards success in the competitive insurance sector.
CEO’s Vision for the Future
Nishant Pitti, CEO and Co-Founder of EaseMyTrip, expressed his excitement about the new venture. “The launch of EaseMyTrip Insurance Broker Private Limited is a significant milestone as we diversify our services and enter the insurance market,” he said. He emphasized the goal to offer a complete travel ecosystem to customers, with this addition being a progressive step in that direction.
Revolutionizing the Insurance Industry
With its reputation for innovation and customer satisfaction, EaseMyTrip aims to revolutionize the insurance industry. The company’s focus on innovation and a client-centric approach is expected to resonate well with both existing and new customers, reinforcing EaseMyTrip’s position as a progressive and dynamic brand in the industry.