Launched! Term life product based on one’s spending pattern

ETMoney, an Indian personal finance app, and HDFC Life, a Mumbai-based long-term life insurance provider, partnered to introduce India’s first term insurance plan that is based on the spending pattern of users. According to ETTech, which is owned by Times Internet, which is the backer of ETMoney, the plan was developed with first-time insurance buyers in mind and simplifies the policy buying process by eliminating all paperwork, medical tests, income requirements and manual intervention. Recall: last month Times Internet launched an auto insurance comparison site called ETinsure. Recall Indian insurance aggregators below.

Bottom Line: targeting some 1 million ETMoney users.