On November 9, 2020 Airtel Payments Bank, India’s first payments bank partnered with Bharti AXA General Insurance Co Ltd to offer ‘Smart Drive Private Car Insurance’, a comprehensive car insurance for its customers.
Purpose of Partnership– To offer car insurance to the customers of Airtel Payments Bank
Features of Car Insurance:
Purchase
Within 5 minutes the customers of Airtel Payments Bank can purchase the car insurance policy using a paperless, secure, and quick process through the Airtel Thanks app.
No Pre-inspection
i.The insurance will be issued to their registered email id and mobile number, without the need of pre-inspection.
ii.The customers only need to fill the details about the vehicle.
Financial protection
The car insurance offers financial protection against vehicle damage due to accident, theft, and natural and man-made disasters.
Compensation
Compensation is provided for the injury or damages to another person or property caused due to a car accident.
Personal accident cover
i.The insurance provides a personal accident cover for the policyholder.
ii.The policy ensures financial protection to the family, in case of permanent disablement or loss of life due to an accident.
Renewal
i.Customers can choose different add on covers at the time of the renewal.
ii.The add on covers include depreciation cover, small consumable items, loss or replacement of car key etc.,
Note- In India, Motor insurance is mandatory.
Other Tie Ups between Airtel Payments Bank and Bharti AXA General
i.Recently, Airtel Payments Bank has partnered with Bharti AXA General Insurance to provide ‘Smart Plan Shop Package Policy’, a shop Insurance for its retailers and customers.
ii.Prior to this, Airtel Payments Bank has tied up with Bharti AXA General Insurance to offer health and two wheeler insurance on the bank’s platform.
Recent Related News:
On October 14, 2020 PhonePe in association with Bajaj Allianz General Insurance Company launched car and bike insurance products on its platform. This launch enables more than 230 million registered PhonePe users to insure their vehicles, in under 2 minutes, without having to upload any documents before making a purchase.
About Bharti AXA General Insurance Company Limited:
Established– 2008
HeadQuarters– Mumbai, Maharashtra
Managing Director(MD) and Chief Executive Officer(CEO)– Sanjeev Srinivasan
Tagline– Suraksha ka Naya Nazariya
About Airtel Payments Bank:
Managing Director (MD) and Chief Executive Officer (CEO)– Anubrata Biswas
HeadQuarters– New Delhi, India.
Launched– January 2017
