“EaseMyTrip Steps into Insurance Sector with Launch of New Unit”
Online travel company EaseMyTrip has announced its entry into the insurance sector with the establishment of a new subsidiary, EaseMyTrip Insurance Broker Private Limited (ETPL). The move comes shortly after the company garnered attention for temporarily suspending flight bookings to the Maldives due to diplomatic tensions between India and the island nation.
Online travel company EaseMyTrip has announced its entry into the insurance sector with the establishment of a new subsidiary, EaseMyTrip Insurance Broker Private Limited (ETPL). The move comes shortly after the company garnered attention for temporarily suspending flight bookings to the Maldives due to diplomatic tensions between India and the island nation.
EaseMyTrip’s co-founder and CEO, Nishant Pitti, shared the development on X (formerly Twitter), emphasizing the strategic nature of the move to diversify the company’s service portfolio. The newly formed venture aims to tap into the insurance market by creating specialized products to address customer needs.
In a statement, EaseMyTrip explained that the expansion into the insurance sector is a strategic decision to broaden its offerings and solidify its position in the industry. The company sees this move as an opportunity to cater to a significant market valued at ₹7.9 trillion, leveraging its existing user base of 20 million.
“The new venture is expected to solidify EaseMyTrip’s position in the industry and cater to a ₹7.9 trillion market with EaseMyTrip’s own 20 million user base. The subsidiary is a testament to the brand’s unwavering commitment towards customer satisfaction and offerings,” the statement read.
Nishant Pitti, who will serve as the director of the new entity, expressed his enthusiasm about this strategic expansion. He stated, “This subsidiary is a major step forward for us…we aim to offer a complete travel ecosystem for our customers and this new addition is a progressive step towards the same.”
The move into the insurance sector reflects EaseMyTrip’s commitment to adapting and growing in response to market dynamics. With this diversification, the company aims to provide a comprehensive suite of services within the travel industry, extending its reach and impact in the market.
As EaseMyTrip Insurance Broker Private Limited takes its place in the market, the company anticipates further strengthening its brand presence and meeting the evolving needs of its extensive user base.
Sources By Agencies
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