The Ken

What went wrong with Phonepe's insurance bet? The fintech burnt over Rs 1,000 crore to push its insurance product—of which 70% was spent on advertising and promotions alone. Yet, Phonepe Insurance has generated a meagre Rs 150 crore revenue in the last five years. There’s a big structural flaw at the firm's insurance arm, and it starts at the top. What is it? What does all of this mean for Phonepe's big listing dreams? Suprita Anupam reports. Click the link in the comments.

This ex-bureaucrat was part of Bengaluru’s water problem. Now, he is selling the solution. He ran Karnataka’s water department. Now, he’s winning its biggest contracts, reports Abhirami G. Read the full story at the link in the comments.

Tension Chhodo, Insurance Lo! But who’s buying? Remember IPL 2021? Do you recall cine stars Aamir Khan and Alia Bhatt promoting a newly launched insurance platform? That very platform—PhonePe Insurance—has sold 15 million policies since then, amounting to Rs 2,000 crore in total premiums over five years. For any other insurance broking startup, these numbers might have been considered decent, if not impressive. But this is PhonePe. A company with over 600 million users in India. A company that has burned over Rs 1,000 crore on its insurance push—yet has generated a meagre Rs 150 crore in revenue over the last five years. Out of the Rs 1000 crore expenses, Rs 700 crore has gone solely into advertising and promotions, featuring stars like Aamir Khan, Samantha Ruth Prabhu, Alia Bhatt, and Dulquer Salmaan. Is Phonepe's digital-first approach and least manual intervention not helping it sell insurance, otherwise a push-driven industry? Story link in the comment.

The fintech wanted to marry its 600 million-strong user base and deeper market reach with aggressive marketing to sell insurance. But all it needed was some experience and a human touch, argues Suprita Anupam in his story today: https://lnkd.in/gPxtHdqM

What does it mean to be more human—authentically, intellectually, and professionally—when it’s getting harder and harder to do so? What does one pay more attention to in a post-AI world? This week's edition of First Principles explores all that and more. Free read: https://lnkd.in/gyU9JTN6

🔓 Visa slots for sale: How Indian travel agents game VFS, consulates Post-pandemic, travellers came back with a vengeance, and it started overloading the systems. With appointment slots hard to come by, travel agents turned securing visa dates into a profitable business. These slots came at a steep price, with some paying up to Rs 50,000 extra for a US visa appointment. In Aug 2024, Nuha Bubere reported on how Indian travel agents were gaming the visa process. Read this story for free by signing up for our 30-day trial. Click the link in the comments.

School-focused edtechs in India have tried to modernise schooling—from the curriculum to the tech to study it on, scheduling and training teachers, and keeping track of outcome data. LEAD leads the way in name recognition. But mastering a fractured universe is more complicated, writes Olina Banerji in this week's Ed Set Go. Click the link in the comments.

IV drips, originally used for medical emergencies, have now become a lifestyle flex. With treatments costing up to Rs 80,000 per session, these drips cater to a wealthy clientele, raising ethical questions about expensive health solutions for a select few while many don't have any access to them. Are these treatments life-changing, or are they just glorified placebos dressed up as luxury experiences? Host Snigdha Sharma explores in this Daybreak episode—first published in Jan 2025. Click the link in the comments.

Elon Musk has found a small, narrow opening to break into the hardest telecom market in the world. What does Starlink's entry into India mean for Airtel and Jio? Praveen Gopal Krishnan explains in this week's The Nutgraf. Read or listen to the full edition at the link in the comments.

Ethically sourced meat and eggs sell at a premium. But how should one position such a product? How big is the market for treating farmed animals humanely? How fast is it growing? Are free-range eggs, ethically raised chickens, or humane meat just oxymorons? Hari Krishna explores in this abridged, narrative version of the latest episode of Two by Two. Click the link in the comments.