Airtel Payments Bank account holders can now purchase smartphone insurance from ICICI Lombard – Premium Check, Claims Process

Smartphone insurance coverage provides financial protection against damage to the phone and its screen resulting from accidents or liquid spills.

With the increase in digital adoption, smart devices, especially smartphones, have seen their demand increase many times over. Airtel Payments Bank customers can now purchase smartphone insurance from general insurance company ICICI Lombard on the Airtel Thanks app. With this, Airtel Payments Bank has further strengthened its insurance offering available on its digital platform. It is now possible to purchase insurance through a fast, paperless and secure digital process.

ICICI Lombard’s smartphone insurance solution provides financial protection against damage to the phone and its screen resulting from accidents or liquid spills. Under this smartphone insurance, customers can file up to two claims during the insurance period, and it also includes free pickup and delivery, making it a unique offer in the market.

Premium and claims process

With a monthly premium starting from Rs 1299, one can obtain a sum of insurance equivalent to the purchase price of his smartphone. One can obtain this insurance by oneself up to ten days after the purchase of a smartphone whose price is between Rs 10,000 and Rs 100,000.

After submitting the smartphone details, the insurance is automatically issued without checking the status of the device. The connectivity that smartphones have enabled during the epidemic will make this device insurance more advantageous than ever for individuals.

Commenting on the launch, Sanjeev Mantri, Executive Director of ICICI Lombard, said: “There are currently over 750 million smartphone users in India and this number is expected to reach 1 billion by 2026, which represents an opportunity booming and huge potential for a product like smartphone insurance. . We are delighted to partner with Airtel Payment Bank to offer a protection plan that will provide customers with additional security in case of accidental damage or theft of their smartphones and encourage them to opt for such insurance policies.

Ganesh Ananthanarayanan, COO, Airtel Payments Bank, said, “In today’s digital age, a smartphone is our lifeline. From connectivity to photography to banking, today’s smartphones help us with just about everything. Its repair cost is usually very high, so we need to protect it from the beginning. We are delighted to partner with ICICI Lombard General Insurance to offer this smartphone insurance.

ICICI Lombard has been at the forefront of providing millions of customers with access to personalized and simplified insurance plans based on their diverse needs. To this end, the company has introduced innovative collaborations and technology-based non-life insurance solutions to its customers.

Keeping user experience at its core, the company also offers technology-driven solutions such as the “IL TakeCare” app where customers can seamlessly purchase policies, manage claims and renew policies. Moreover, the company offers its customers the option of purchasing insurance through various channels at their convenience. Furthermore, it is committed to deploying the latest technologies, including machine learning, artificial intelligence and robotics, to facilitate seamless customer service, policy renewals, claims settlement, etc., enabling making it easy for consumers to get best-in-class insurance. practical protection anywhere and anytime.

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