The partnership aims at ensuring protection against unauthorised and fraudulent activities online, across bank accounts, debit/credit cards and mobile wallets.
As a part of the deal, MobiKwik users can access the Commercial cyber Insurance policy underwritten by ICICI Lombard and enjoy the armour of secured transaction for its users who opt for Cyber Insurance using the app.
Users can avail the cyber-insurance only at Rs 99/- month and with a sum insured of Rs 50,000/.
“We have always been ahead of the curve and introduced unique solutions at attractive price points. With the introduction of mobile wallets, transactions have become far more effective and convenient. But, these online transactions expose users to a new class of risks. Cyberinsurance thereby becomes imperative to provide customers protection against any kind of data security breach. This relationship with MobiKwik further strengthens ICICI Lombard’s endeavor to provide innovative and unique products against the new-age risks and cater to the needs of the customers of our business associates,” said Sanjeev Mantri, Executive Director, ICICI Lombard.
“We have always been a trendsetter and launched innovative products in line with the customer requirements. We are the first mobile wallet company to avail cyber insurance for its customers. This product was the need of the hour in today’s digital era wherein a number of individuals prefer doing their financial transactions online. This is a category that has been untouched upon and is a promising one, with the rise in the adoption of digital payments, across cities and towns,” said Upasana Taku, Co-founder and Director, MobiKwik.
“We are committed to offering stress-free transactions not only on MobiKwik but also across all other banking and non-banking platforms, used by our customers. We have partnered with ICICI Lombard General Insurance for this product and are confident that this differentiated product will further enable more users to trust digital payments and will use them more actively, without any fear. We are committed to bring in many more innovative and affordable products to address the requirements of millions of Indians,” Taku added.