Oct 8: Leading e-commerce player Flipkart, after securing a corporate agent license, is set to foray into the insurance segment. For this, the e-commerce giant has partnered Bajaj Allianz General Insurance. In a statement, Flipkart said that the partnership will allow it to offer customized insurance solutions to power its mobile phone protection programme provided for all leading mobile phone brands that they sell.
Cash payment option or free pick up, service and drop convenience to customers will also be offered under this programme. The insurance offering will be rolled out on October 10 at the beginning of its The Big Billion Days (TBBD) sale.
Ravi Garikipati, senior vice president at Flipkart and head of Fintech, has been quoted by news sources as saying that, as a customer-first policy company, Flipkart is trying to provide its customers with excellent after-sales care for their phones. The plan will be integrated into the e-commerce site throughout the purchase process.
According to Tapan Singhel, MD and CEO of Bajaj Allianz General Insurance Co both the companies are together starting with the complete mobile protection plan (CMP).
It is found that the 36% of the mobile phone users in India own the smartphone. Damage of phones, phones getting stolen and the like are the major worries in the mind of a user and with the programme, the Flipkart intends to address such issues.
The one-year valid insurance will cover accidental, screen, liquid damage and the theft of the protected phones. The latest policy will be activated from the day of delivery once the buyer gives all the needed details.
In order to claim the insurance, a user can contact Flipkart through its app, email or phone call. They can either return the phone for fixing or opt for a cash payout. Flipkart states that the cash will then be deposited back into their Flipkart registered bank account or any other account held by the buyer.