HDFC ERGO, PhonePe launch low-cost health cover

By Vriti Gothi

HDFC ERGO General Insurance Company has partnered with PhonePe to launch ‘Suraksha Sankalp’, an affordable health insurance solution aimed at the country’s ‘Missing Middle’ – the approximately 40 crore Indians who are neither covered by government-sponsored health schemes nor able to afford traditional comprehensive health insurance.

Launched to coincide with the 79th year of Indian Independence, the initiative targets lower and middle-income groups, including unorganised sector and gig economy workers, many of whom remain exposed to the risk of financial hardship from healthcare expenses.

The partnership combines HDFC ERGO’s expertise in designing comprehensive, Shariah-compliant and digitally enabled insurance products with PhonePe’s extensive digital distribution network. This integration will allow millions of underserved citizens to access quality health coverage at an affordable premium entirely through the PhonePe app. The plan offers cashless hospitalisation across a dedicated network, protection against medical emergencies, outpatient consultations, and additional financial benefits in cases such as vector-borne diseases, aiming to shield families from the high costs of treatment.

“As per the Niti Aayog report, ~40 crore Indians who are referred to as ‘Missing Middle’ lack any form of health insurance coverage. In order to bridge this gap, HDFC ERGO’s Suraksha Sankalp aims to provide financial support through its cashless Health Insurance plan, ranging from OPD to hospitalisation. In order to reach the citizens across the country, we needed a strong partner with a wide distribution network across remote geographies. We are delighted to partner with PhonePe, which has helped to fulfil this purpose of insurance inclusion,” said Parthanil Ghosh, Executive Director, HDFC ERGO General Insurance.

Vishal Gupta, CEO at PhonePe Insurance Broking Services, added, “Inclusive health insurance is a fundamental need, and at PhonePe, we are committed to making a real impact towards the financial future and well-being of every Indian. Through this plan, we aim to provide access to quality healthcare for millions of underserved customers without the burden of high premiums.”

Initially available in Hyderabad, Nagpur, and Madurai, ‘Suraksha Sankalp’ will be rolled out to additional cities, advancing the shared goal of driving insurance adoption and strengthening financial resilience across India.