WhatsApp to offer soon health insurance and small pension products in India

WhatsApp is all expected to enter the Indian financial, commercial, social and educational sectors of India.

WhatsApp to offer soon health insurance and small pension products in India

The instant messaging platform Whatsapp is set to launch health insurance and small-scale pension products in the country in partnership with financial services players.

At the Facebook Fuel for India 2020 event, Head of WhatsApp India, Abhijit Bose said the company would partner with SBI General to launch the ‘health insurance cover’ and HDFC Pension to launch the National Pension Scheme (NPS) product. In 2021, we will see WhatsApp go into various categories and will also help small businesses grow with the WhatsApp Business service.

WhatsApp to Partner with HDFC Pension and SBI General

The partnership between WhatsApp and SBI General will allow the company to offer health insurance, while binding with HDFC Pension will provide a lower pension product. Health cover and small pension products will be introduced as part of the first phase in late 2020, after which other products will be introduced in early 2021. Facebook

it will also penetrate other sectors such as trade, education and social welfare.

“People’s ability to get health insurance that includes health and wellness can protect financial security at home from unexpected expenses especially during an epidemic,” Abhijit Bose said at the Facebook Fuel for India 2020 event.

WhatsApp has been working hard for a number of pilots to help ensure that every adult has access to the most important financial and livelihood services on their mobile phones. By the end of this year, we expect people to be able to buy cheap health insurance in the form of sachet via WhatsApp, ”Bose continued.

He also mentioned that such projects would make it easier for all Indians to purchase health insurance and a lower pension. It can also help the products to be promoted to all Indians regardless of income and location.

WhatsApp is betting heavily on its payment service- WhatsApp Pay which started operating in the country last month.

WhatsApp currently provides UPI-based payment services with four banks (State Bank of India, HDFC Bank, ICICI Bank and Axis Bank), and is hosting 20 million transactions by November 2020. via WhatsApp Pay, Facebook is looking to provide digital and commercial SMB solutions.

Through its partnership with Jio Platforms, Facebook will tap 80 million SMBs and help them grow in value.

Having said that, we are pleased to see what WhatsApp and Facebook have in store for Indian audiences in 2021.


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Debashis

Debashis is a Young Entrepreneur Blogger having Good Technical skills, He also an Experienced Article Writer. He likes to Share Knowledge and Experience with People. facebook whatsapp telegram instagram

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