Paytm receives license from IRDAI

India’s leading payment and fin-tech company Paytm has entered into the insurance segment, as its subsidiary received licence to sell life-and non-life products from the regulator- Insurance Regulatory and Development Authority of India (IRDAI).

Noida-based Paytm announced that it will commence its insurance services through its subsidiary, PayTM Insurance Broking Pvt Ltd (PIBPL). The company would also provide policy management and claim services for its customers.