Google Pay partners with SBI General Insurance to offer health insurance on the platform

SBI General Insurance has announced a technical collaboration with digital payments platform Google Pay. The collaboration will allow customers to buy SBI General’s health insurance plans directly through the Google Pay app. The partnership is in line with SBI General’s plan to expand its distribution of insurance solutions through digital channels. However, this is Google Pay’s first such collaboration with an insurance provider in India. Google Pay users will now be able to buy health insurance plans on the go on Google Pay Spot. Google Pay’s rival PhonePe already has an insurance offering on its platform, and the new collaboration could see new competition between the two payment platforms.

Speaking at the launch, State Bank Of India Prakash Chandra, MD & CEO, General Insurance said that this collaboration has been done keeping in mind the demand and requirements of the market. He said, “The pandemic has promoted the use of digital platforms for various needs and also matured on their expectations from financial solutions. This collaboration is yet another effort to meet this growing need for health insurance, thereby bringing a larger number of people under the insurance cover.”