Flipkart enters insurance segment, partners with Bajaj Alliance

Flipkart enters insurance segment, partners with Bajaj Alliance

For entering the insurance sector, e-commerce giant Flipkart has joined hands with Bajaj Allianz General Insurance. This partnership will allow the firm to offer customised insurance solutions to boost its mobile phone protection programme for all leading mobile phone brands that are sold on its platform, Flipkart said in its official communique.
FlipkartFurther, Flipkart will be offering both cash payments as or free pick up option, service and drop convenience to customers. The new offering will be available from October 10, at the start of Flipkart’s The Big Billion Days.

“In line with our customer-first policy and as the market leader in this segment, insurance felt like the logical next step in providing consumers with excellent after-sales care for their phones. The plan, from purchase, to claim, will be completely integrated into our online platform…” said Ravi Garikipati, Senior Vice President and head of Fintech, Flipkart.”Both the companies are starting with the complete mobile protection plan (CMP), ensuring value for millions of customers,” said Tapan Singhel, MD and CEO of Bajaj Allianz General Insurance Co.

Reports reveal that around 36 percent of mobile phone users in India have smartphones. Majority of the customers are worried about damaging their screens or theft of their phones.

Flipkart added that the insurance will be valid for a year and cover accidental, screen, and liquid damage along with theft of the protected mobile phones.

Interest buyers will be able to buy the insurance-powered CMP plan at the time of buying the mobile phone for Rs 99 onwards. After submission of the details by the customer at the checkout, the policy will be activated from the day of delivery.

The customer can contact Flipkart via the app, email, or phone call and will offered with a choice between returning the phone for fixing or opting for a cash payout, which will transferred in their Flipkart-registered bank account or any other account owned by the customer, the statement said.

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the BFSI industry. Join Us for 3rd Cloud & Security Summit, Mumbai and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.

Subscribe Newsletter