Monday, April, 15, 2024 01:41:23

E-commerce giant Flipkart has reportedly announced that it plans to foray in the insurance segment after obtaining a corporate agent license. As per trusted sources, the company has teamed up with Bajaj Allianz General Insurance to provide customized insurance solutions as a part of its mobile phone protection program.

Reportedly, the program would cover all the foremost mobile phone brands that are currently sold on its website. The firm would offer both free pick up or cash payout option, service and drop convenience to its customers.

Senior Vice President and Head of Flipkart’s Fintech arm, Ravi Garikipati was reportedly quoted stating that the firm decided to enter the insurance domain as it felt the segment would be the next logical step in offering customers with brilliant after-sales service for their phones. The program would be completely integrated from purchase to claim into the firm’s website which is in line with the customer-first policy, Garikipati added.

According to a few reliable estimates, around 36 percent of mobile phone users in India own a smartphone. The new insurance offering aims to assuage the concerns of customers which majorly are damaging their screens or having their phone stolen, cite sources.

Sources privy to the matter claim that customers would be able to buy the CMP plan at the same time as they purchase the mobile phone for INR 99 onwards. As per a report published by The Economic Times, the insurance offering would be available from October 10 which marks the commencement of the company’s The Big Billion Days sale. Reportedly, the insurance would be valid for one year and will cover liquid, screen, and accidental damage as well as theft of the protected smartphones.

CEO and MD of Bajaj Allianz General Insurance Co, Tapan Singhel reportedly commented that both the firms would start with the complete mobile protection plan (CMP) which would add value for millions of smartphone users.