2 days ago
FatakPay launches ‘FatakSecure' to simplify digital insurance for Bharat
MUMBAI:
FatakPay
, a digital financial wellness platforms, announces the launch of
FatakSecure
, its insurance vertical for India's underserved population. The company is currently in the process of securing
IRDAI approval
for a composite Corporate Agent License, which will enable it to offer a wide range of insurance products across health, accident, life, and consumables.
Targeted at a Pan-India audience with a focus on Tier 2 and beyond, FatakSecure seeks to address long-standing pain points in India's insurance ecosystem, including low penetration, confusing policy structures, and lack of user trust. The platform promises a full-stack digital experience, offering simplified onboarding, transparent terms, personalised product recommendations, and dedicated customer support. Once live, users will be able to access FatakSecure via the existing FatakPay app and website.
Abhishek Gandhi
, Co-founder of FatakPay, said in a statement, 'India is at a pivotal point in its digital evolution. While digital lending has taken off, insurance penetration remains low at just 4.2% of GDP (IRDAI, 2023), compared to the global average of over 7%. With FatakSecure, we are combining data intelligence, trust, and simplicity to bridge that gap and deliver protection where it matters most.'
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FatakSecure is part of FatakPay's broader mission to offer holistic financial wellness solutions, including credit, gold investments, and insurance , on a single platform for India's hardest-working segments, such as gig workers, blue-collar employees, and low-to-mid-income salaried professionals.
FatakSecure plans to partner with 10+ leading insurers and offer policy services in five regional languages by FY26, supporting the government's vision of 'Insurance for All'. By aligning insurance products to user lifestyles, risk profiles, and income levels, the platform is designed to reduce friction and boost long-term coverage adoption.
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'This launch is more than a new product; it's a step forward in making financial protection simple, inclusive, and rooted in trust,' added Gandhi. 'Whether it's a ₹20,000 emergency loan, a ₹500 gold investment, or ₹10 lakh insurance coverage, we want to be the most relevant financial partner for Bharat.'
