Aegon Life Insurance has entered into a partnership to offer its comprehensive life insurance solutions in India through digital payment platform Paytm.

Aegon hopes to deepen its digital presence and increase its market share with this partnership.

Aegon Life Insurance MD and CEO Vineet Arora said “With more and more Indians using their smartphones to make purchases, providing BFSI services through a digital platform like Paytm has a huge scope.

“Also, since the process is entirely digital, the on-boarding of the customer happens within few minutes with immediate issuance of the policy document. With this partnership, we expect to expand the reach for term insurance solutions and avoid procrastination to become an excuse for not securing yourself and your loved ones.”

Both Paytm and Aegon Life Insurance are jointly focussing on creating a smooth buying journey for the consumer.

The products are aimed to be simple and easy for understanding and tailor-made for the customer.

Paytm president Amit Nayyar: “We believe there are complementing synergies between our and Aegon’s work ethos and offerings and this partnership will enable us to provide needs-based life insurance solutions to our customers through a seamless journey from purchase to claim.

“The insurance plan from Aegon Life will be completely integrated on the Paytm platform, which customers are already familiar and trust us with across multiple products and services.”