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PhonePe receives direct insurance broking licence from IRDAI

Shortpedia

Content Team
Image Credit: shortpedia

Fintech unicorn PhonePe has been issued an insurance broking licence from the Insurance Regulatory and Development Authority of India (IRDAI). In 2020, PhonePe entered the insurtech sector with a limited insurance corporate agent licence, which restricted the company to partner with only three insurance companies per category.