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CoverSure launches insurance gift cards to attract Gen Z buyers
CoverSure has created a gift card that can only be used for insurance.
People can use it to buy a new policy or renew an old one.
The card works for health, life, and motor insurance.
It can contain between ₹100 and ₹10,000.
The company hopes the idea will encourage young people and first-time buyers to get insurance.
CoverSure says many people stop having insurance several years after buying it.
The card cannot directly give someone insurance because of insurance rules.
Instead, it gives them money reserved for purchasing insurance through the CoverSure app.
CoverSure introduced prepaid gift cards usable only for buying or renewing insurance policies.
The cards can hold ₹100 to ₹10,000 and cover health, life, and motor insurance.
The company says the product targets first-time buyers, especially members of Gen Z.
Founder Saurabh Vijayvergia said policy persistency, rather than awareness or access, is the central industry problem.
CoverSure launched the cards before Raksha Bandhan and said requests have already crossed thousands.
- Who
- CoverSure and its founder and CEO Saurabh Vijayvergia.
- What
- Launched a prepaid gift card that can be used exclusively to purchase or renew insurance policies.
- Where
- Through the CoverSure app in India.
- When
- The product was launched days before Raksha Bandhan; the article was published on September 10, 2026.
- Why
- To bring first-time buyers, particularly Gen Z, into insurance and address low policy persistency.
Key facts
- Card value
- ₹100 to ₹10,000
- Eligible insurance
- Health, life, and motor insurance
- Permitted uses
- New policy purchases and existing policy renewals
- Insurance partners
- CoverSure currently works with 23 insurance partners
- Named partners
- HDFC Life, ICICI Prudential Life, HDFC Ergo, Care Health, and Aditya Birla
- Demand reported
- CoverSure said requests have already crossed thousands
- Platform reach
- The company said it serves several lakh families, with thousands joining daily
Quotes
Saurabh Vijayvergia
Founder and CEO of CoverSure
“Insurance per se cannot be gifted... but can I just give you a simple prepaid card as a gift which can only be used on insurance?”
thehindubusinessline.com
“Insurance does not have any ambassadors... whoever has insurance, has it for himself. He doesn't even talk with his family,”
thehindubusinessline.com
Sources
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