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HDFC Life Insurance ties up with Paytm to expand its distribution channel

HDFC Life has partnered with Paytm for wider reach and expansion through mobile commerce channels.

HDFC Life Insurance, one of India's leading private life insurers has partnered with Paytm to enable customers of Paytm to purchase insurance products from HDFC Life.

HDFC Life has been doing strategic partnerships and tie-ups across industries to have a wider reach.

Parvez Mulla, COO at HDFC Life said in an interview earlier, Cross industry partnerships will go long way in increasing penetration. In our partnership with Airtel, IndiaÆs 2nd largest telecom company, we issued policies within seconds & was a great learning experience for Airtel & HDFC Life.

Pankaj Gupta, Sr. EVP - Sales & CMO, HDFC Life, said, At HDFC Life, we are constantly exploring opportunities to create and sustain new partnerships to strengthen our distribution network. We are happy to announce our tie-up with Paytm as this valued tie-up enables us to reach out to the vast customer base of Paytm and secure them financially.

Paytm has approximately 450 million registered users which are potential customers for HDFC Life Insurance.

Our aim is to help increase insurance penetration in India and we are committed to simplifying the journey for our customers, right from the purchase to the claim process. The partnership with HDFC Life further strengthens our ability to offer various life insurance products to our customers said, Amit Nayyar, President, Paytm.
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