Flipkart to Start Offering Customised Insurance for Mobiles

Flipkart on Sunday said it had tied up with Bajaj Allianz General Insurance to offer insurance to products like mobiles bought on its online shopping platform from October 10.

"We will offer customised insurance solutions to power our complete mobile protection programme for all leading mobile brands sold on our platform with Bajaj Allianz," said the Bengaluru-based company in a statement.

The decade-old company, in which world retail giant Walmart acquired majority stake in May, secured a corporate agent license from Bajaj Allianz.

Touted to be the first, the insurance will be in cash payout option or free pick-up, service and drop convenience to customers.

"The insurance will be available from October 10, coinciding with our 'The Big Billion Days' festival offer to serve customers who shop during the event," said the statement.

Ravi Garikipati, Sr. VP and head of Fintech, Flipkart, commented, "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, which customers are already familiar with and trust. We want to put this choice in their hands and give them the chance to soothe their worries by protecting their valued purchase, if they so desire."

Added Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance, added, ""Bajaj Allianz General Insurance has always been at the forefront in exploring new avenues for our customers and being there for them wherever they are, and this partnership with Flipkart is a step in that direction. We together are starting with the CMP plan, i.e. complete protection plan for mobile phones, in a category that Flipkart leads, adding value for millions of its customers.