Maldives’ fame EaseMyTrip to make insurance debut, announces new unit

EaseMyTrip Insurance Broker Private Limited is a ‘strategic move to diversify its portfolio,’ the company said in a statement.

Updated on: Jan 10, 2024, 15:21:31 IST

By HT News Desk, New Delhi

Prefer HTon Google

Share via

Copy link

Online travel company EaseMyTrip is foraying into the insurance sector, co-founder and CEO Nishant Pitti announced on Wednesday, days after the firm made headlines for suspending flight bookings to Maldives in the wake of diplomatic tensions between India and the island nation.

Nishant Pitti, co-founder and CEO, EaseMyTrip (Image courtesy: @nishantpitti/X)

Also Read | EaseMyTrip suspends all Maldives flight bookings amid row over anti-Modi posts

The subsidiary will be called EaseMyTrip Insurance Broker Private Limited (ETPL), Pitti said in a post on X (formerly Twitter).

In a statement, the travel operator said that the upcoming venture was a ‘strategic move’ on its part to ‘to diversify its service portfolio and tap into the insurance market by creating a specialised product to solve customer needs.’

Also Read | EaseMyTrip co-founder explains decision to suspend bookings for Maldives

“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.

The release further stated that Pitti will be the director of the new entity.

Also Read | ‘Sincere apology’: Maldives tour and travel body urges EaseMyTrip CEO to re-open flight bookings

“This subsidiary is a major step forward for us…we aim to offer complete travel ecosystem for our customers and this new addition is a progressive step towards the same,” it quoted him as saying.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Stay updated with the latest Business News on Petrol Price, Gold Rate, Silver Rates, Diesel Prices along with Income Tax Calculator