Traveltech firm EaseMyTrip has launched its new subsidiary Ease My Trip Insurance Broker to diversify its service portfolio and tap into the insurance market, Nishant Pitti, Founder and CEO, announced via a statement on micro-blogging site X.
According to the statement, the new venture is expected to solidify EaseMyTrip’s position in the industry and cater to a Rs 7.9 trillion market with the company’s own 20 million userbase.
The statement noted that the Indian insurance market is expected to reach $200 billion by 2027. By entering into the insurance brokerage domain, the company aims to not only enhance its service portfolio, but also set up new avenues to increase business operations and revenue.
Pitti, in the statement, said, “We are elated to announce the launch of EaseMyTrip Insurance Broker. This new subsidiary is a major step for us as we diversify our services and enter the insurance market. We aim to offer complete travel ecosystem for our customers and this new addition is a progressive step towards the same. With our strong standing for excellence and customer satisfaction, we are confident that we will make a lasting impact on our existing and new customers.”