Flipkart Launches Insurance For Online Shopping: Cover Upto Rs 10 Lakh, Rs 183 Premium
According to a NortonLifeLock survey, over 80% of respondents reported being a victim of cybercrime?at some point?in their lives.
The e-commerce giant, Flipkart has partnered with Bajaj Allianz General Insurance to launch a ‘Digital Suraksha Group Insurance’.
This insurance aims at helping customers cover themselves against financial losses caused as a result of cyber-attacks, cyber frauds, or other such malicious activities across various online platforms, said the company’s statement.
Read on to know more about this policy…
Features of ‘Digital Suraksha Group Insurance’.
The‘Digital Suraksha Group Insurance’ provides customers a powerful tool and reliefs they remain safe when doing digital transactions.
- The insurance “compensates for direct financial loss (up to the sum insured) due to unauthorized digital financial transactions as a result of identity theft arising out of cyber-attacks, phishing/spoofing, and SIM-jacking”.
- You can choose a one-year cover at a low premium like Rs. 183 for a cover of Rs. 50,000. For a cover of Rs 1,00,000, the premium will be Rs. 312 and for Rs.2,00,000 it will be Rs. 561. For a period of 12-months, the covers extend up to Rs 10,00,000.
- The policy covers online transactions for debit cards, credit cards, digital wallets, UPI / Internet banking (All bank accounts, credit and debit cards, and mobile wallets).
- Multiple claims or incidents will be covered up to the insured sum.
- “The claim is admissible if a loss of funds is reported within 90 days of the occurrence.” the statement read.
- A worldwide cover and protection while traveling internationally will be reimbursed in Indian Rupees.
The insurance can be availed while purchasing specific models of electronic devices like mobiles, laptops, tablets, and audio devices on Flipkart.
What Does Flipkart Have to Say?
Ranjith Boyanapalli, Head – Fintech and Payments Group, Flipkart, said, “At Flipkart, it is our constant endeavor to make online shopping safer and more convenient for customers transacting digitally. The cyber insurance offering in partnership with Bajaj Allianz is a step in this direction. As the festive season nears, we want to ensure that the customers’ online shopping experience, across any digital medium, is devoid of stress and apprehensions.”
Mr, Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance said, “Cyber-attacks pose a serious threat wherein your money, reputation, and personal data is at stake. With this Digital Suraksha Group Insurance introduced on Flipkart’s platform, at less than 50 paise per day, you can protect yourself against the financial risk of getting defrauded online. During this COVID-19 era, as you shop online, this insurance will provide coverage against various cyber threats. Thus, making your online experience worry-free.”
“Guided by the strong understanding of the needs of Indian consumers, Flipkart has, in recent months, introduced life, health, and motor insurance offerings, so that consumers can avail of these important financial services from the safety of their homes during the pandemic,” the statement read.