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Health insurance, micro-pension products to be available soon on WhatsApp WhatsApp
Image Credit: Webster 2703 from Pixabay

Health insurance, micro-pension products to be available soon on WhatsApp

India Blooms News Service | @indiablooms | 17 Dec 2020, 10:43 pm

Mumbai/IBNS: Users of messaging app WhatsApp in India will have access to a string of “critical financial and livelihood services” for which talks are going on with leading banks and service providers.

India Head Abhijit Bose revealed in Facebook Fuel for India event that Facebook is working with HDFC Pension and Singapore-based firm PinBox Solutions for offering micro-pension products, reported Gadgets 360.

The new developments are seen as an expansion of WhatsApp's digital payments venture – WhatsApp Pay.

According to the report, Bose said WhatsApp will start offering micro affordable health insurance coverage from SBI General by the end of this year and start developing micro-pension products with HDFC Pension and Singapore-based firm PinBox Solutions.

“These pilots, along with others in edtech and agritech to name a few, offer tremendous promise and would help support the government of India's priorities for a more digitised economy, especially for rural and underserved segments,”  Bose was quoted as saying in the report.

WhatsApp is working to bring insurance and banking products and services within the reach of its users in a bid to make a strong presence in the financial sector of India.

Bose underscored that the messaging app will make it easier to bring within the reach of Indian users health insurance and micro-pensions irrespective of their location and income.