Airtel Payments Bank ties up with ICICI Lombard to offer smartphone insurance

With a monthly premium from ₹1,299.00, customers can get an insurance amount equal to the purchase price of their smartphone

With a monthly premium from ₹1,299.00, customers can get an insurance amount equal to the purchase price of their smartphone

Airtel Payments Bank has partnered with ICICI Lombard to offer smartphone insurance in India. This facility is available on the Airtel Thanks app. This solution provides financial protection against damage to the phone and screen due to accidents or spills. “As part of this smartphone insurance policy, customers can make up to two claims during the policy period, and it also includes free pick-up and delivery, making it a unique offering in the market,” the companies said in a joint statement. “With a monthly premium starting at ₹1,299.00, customers can get an insurance amount equal to the purchase price of their smartphone,” it said. People can only take out this insurance up to ten days after purchasing a smartphone with a price between 10,000 and 100,000. Sanjeev Mantri, executive director of ICICI Lombard, said: “There are currently more than 750 million smartphone users in India and this number is likely to reach 1 billion by 2026, representing a burgeoning opportunity and huge potential for a product like smartphone insurance.” Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank, said: “In today’s digital age, a smartphone is our lifeline. From connectivity to photography to banking, smartphones help us with just about everything these days. Repair costs tend to be very high, which is why we have to protect him from the start.”

www.thehindu.com

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