Mumbai. Airtel Payments Bank customers can now use ICICI Lombard (ICICI Lombard) on Airtel Thanks AppICICI Lombard) Smartphone Insurance from General Insurance (Smartphone Insurance) can buy. With this Airtel Payments Bank (Airtel Payments Bank) has further strengthened the insurance offering available on its digital platform. Customers can now buy insurance faster, without paperwork, through a secure digital process.
The digital age has seen a manifold increase in the demand for smart devices, especially smartphones. ICICI Lombard’s smartphone insurance solution provides financial protection against damage to the phone and its screen as a result of accidents. Customers can file a maximum of two claims as part of smartphone insurance during the policy term and this includes free pickup and delivery, making it a unique offering in the market.
How much will the smartphone insurance premium be?
Customers can get a sum insured equal to the purchase price of the smartphone with a monthly premium starting from Rs 1299. Customers can get this insurance themselves for 10 days after buying a smartphone priced between Rs 10,000 to Rs 1 lakh. Insurance is done automatically without device health checkup after submitting the smartphone related details.
‘Users will get protection from accidental loss’
Sanjeev Mantri, Executive Director, ICICI Lombard said, “There are currently more than 750 million smartphone users in the country. This number is expected to reach 1 billion by 2026, reflecting the growing opportunity and huge potential for a product like smartphone insurance. We are excited to introduce a protection plan with Airtel Payments Bank, which will provide customers with added protection in case of accidental loss or theft of their smartphone. This will encourage users to opt for insurance policies.
‘Safety is needed from the beginning’
Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank said, “Smartphones are our life-line in today’s digital age. Smartphones today help us with almost everything from connectivity to photography and banking. Its repair cost is usually very high. In such a situation, we need its safety from the very beginning. We are delighted to partner with ICICI Lombard General Insurance to offer smartphone insurance.