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The venture will kick off once it gets the green light from regulators. The focus is on making affordable, straightforward insurance available digitally, especially since many in India still aren't insured.
Mukesh Ambani shared that this move fits right into Jio's mission of delivering essential services at scale, saying insurance is key for financial security.
Allianz CEO Oliver Bate added that they want to build an innovative, customer-first model for India's market, and they are working toward a separate binding agreement for the life insurance business.