HDFC ERGO has partnered with PhonePe to launch an affordable health insurance plan called ‘Suraksha Sankalp,’ targeting India’s ‘Missing Middle’—around 40 crore uninsured citizens from lower and middle-income groups. This initiative aims to provide financial protection against health-related expenses to those not covered by government schemes or existing insurance plans.
The plan offers comprehensive coverage including cashless hospitalisation, outpatient consultations, personal accident cover, and protection against vector-borne diseases, all at an affordable premium. By leveraging PhonePe’s vast digital payment platform, HDFC ERGO aims to make health insurance more accessible to underserved populations, especially workers in the unorganised and gig economy sectors.
Parthanil Ghosh, Executive Director of HDFC ERGO, highlighted the need to bridge the insurance gap for the ‘Missing Middle’ and expressed confidence that the partnership with PhonePe would extend reach across remote geographies. Vishal Gupta, CEO of PhonePe Insurance Broking Services, emphasized their commitment to inclusive health coverage and affordable, digital-first solutions for India’s diverse population.
Currently available in Hyderabad, Nagpur, and Madurai, the plan will soon be rolled out to additional cities, reinforcing efforts to expand health insurance penetration across India and provide financial security to millions of underserved individuals.