New Delhi: 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.
The subsidiary will be called EaseMyTrip Insurance Broker Private Limited (ETPL), Pitti said in a post on X (formerly Twitter).
EaseMyTrip Insurance Broker Private Limited is a ‘strategic move to diversify its portfolio,’ the company said in a statement. 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.’ “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. “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.