In a strategic move to diversify its service portfolio, EaseMyTrip.com, leading online travel tech platform, has announced the launch of a new subsidiary, EaseMyTrip Insurance Broker. The new venture aims to tap into India‘s burgeoning insurance market, currently valued at INR 7.9 trillion.
India, the fifth-largest life insurance market globally, growing at an annual rate of 32-34 per cent, presents a significant opportunity for EaseMyTrip. The newly formed subsidiary will leverage the company’s 20 million userbase to provide specialised insurance products. Nishant Pitti, CEO and Co-Founder of EaseMyTrip, expressed enthusiasm about this strategic expansion, emphasising the brand’s dedication to offering a complete travel ecosystem.
EaseMyTrip Insurance Broker, led by Pitti as Director, plans to revolutionise the insurance industry through innovation and a client-focused approach. The company said its subsidiary aims to offer comprehensive insurance solutions.
In tandem with its insurance venture, EaseMyTrip is also set to embark on a nationwide roadshow, a first-of-its-kind initiative in the company’s history. The roadshow, commencing on January 16th in Kolkata and concluding on February 1st in Pune, will cover key cities across India. In collaboration with recently acquired domestic travel brands Guideline Travels and Dook Travels, EaseMyTrip aims to foster robust business connections within the nation’s thriving tourism industry.
“The roadshow provides a unique platform for EaseMyTrip to engage in one-on-one dialogues with prominent travel agents across multiple cities. By facilitating this corporate endeavour, we aim to strengthen the fabric of India’s travel and tourism sector. The initiative is expected to generate innovative concepts, strategic collaborations, and an overall enhancement of customer-centric services,” the company said in its statement.
Pitti highlighted the significance of the roadshow as a strategic step toward fortifying the company’s market position and contributing to the growth and sophistication of India’s travel industry.