EaseMyTrip, India’s second-largest online travel tech platform, has launched its new subsidiary, EaseMyTrip Insurance Broker Private Limited, to diversify its service portfolio and enter the insurance market.
The new venture is expected to solidify EaseMyTrip’s position in the industry and cater to an INR 7.9 trillion market with its 20 million user base. India is the fifth largest life insurance market in the world’s emerging insurance markets, growing at a rate of 32-34% each year. The Indian insurance market is expected to reach US$ 200 billion by 2027. The subsidiary is a testament to the brand’s commitment to increased customer satisfaction and offerings.
By entering the insurance brokerage domain, the company aims to enhance its service portfolio and set up new avenues to increase business operations and revenue. EaseMyTrip CEO and Co-Founder, Mr. Nishant Pitti, expressed enthusiasm about the venture, stating that the new subsidiary is a major step forward for the company as it diversifies its services and enters the insurance market. The company intends to revolutionize the insurance industry by innovation and a client-focused mindset, cementing its reputation as a progressive and dynamic brand.
