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Unified Payments Interface (UPI) and credit cards have emerged as the two most popular payment modes used by consumers while paying for their insurance premiums, according to data analysed by insurance marketplace Policybazaar.
PB Fintech-run Policybazaar said health, term and motor insurance products have seen the highest adoption of UPI payments in the last one year. Motor insurance purchases already had more than 50% of payments going via UPI. For health insurance, the share of UPI payments stood at 25%.
Policybazaar is the largest insurance…
