PriyaPatel
TLDR:
- EaseMyTrip, India’s travel tech giant, has launched a new subsidiary called EaseMyTrip Insurance Broker Private Limited to enter the insurance market.
- The Indian insurance market is estimated to be worth ₹7.9 trillion and is growing at a rate of 32-34% annually.
India’s travel tech giant, EaseMyTrip, has announced the launch of its new subsidiary, EaseMyTrip Insurance Broker Private Limited, in a move to diversify and expand its services. EaseMyTrip aims to tap into the booming Indian insurance market, estimated to be worth ₹7.9 trillion and growing at a rapid rate of 32-34% annually. The new subsidiary will capitalize on EaseMyTrip’s existing robust platform and 20 million user base. The company aims to offer a complete travel ecosystem for its customers and sees this expansion into the insurance market as a progressive step towards achieving that goal.
EaseMyTrip made headlines recently when it suspended all flight bookings to the Maldives amid a row over “derogatory” remarks about Indian Prime Minister Narendra Modi made by Maldivian politicians. EaseMyTrip’s founder Prashant Pitti took to social media to promote Lakshadweep as an alternative destination to the Maldives and pledged to come up with special offers to promote the area. The move to suspend bookings to the Maldives aligns with the company’s commitment to promoting domestic destinations and exploring untapped markets.
The launch of EaseMyTrip Insurance Broker Private Limited is a strategic move by the company to diversify its services and capitalize on the growing insurance market in India. With its existing platform and user base, EaseMyTrip is well-positioned to make a lasting impact in the insurance sector. This expansion reflects the company’s commitment to providing a complete travel ecosystem for its customers and further solidifies its position as a leading player in the Indian travel industry.
