Thursday, Mar 28 2024 | Time 22:58 Hrs(IST)
image
Business Economy


Flipkart partners with Bajaj Allianz to launch cyber insurance to cover online financial frauds

Flipkart partners with Bajaj Allianz to launch cyber insurance to cover online financial frauds

Kolkata, Sep 29 (UNI) Flipkart, India’s homegrown e-commerce marketplace, and Bajaj Allianz General Insurance Company, India’s leading private general insurer, have come together to offer ‘Digital Suraksha Group Insurance’ for customers who want to cover themselves against financial losses caused as a result of cyber-attacks, cyber frauds, or other such malicious activities across various online platforms.

The Digital Suraksha Group Insurance compensates for direct financial loss (up to the sum insured) due to unauthorized digital financial transactions as a result of identity theft arising out of cyber-attacks, phishing/spoofing, and SIM-jacking.

Customers can opt for a one-year cover at premiums as low as Rs. 183 for a cover of Rs. 50,000.

Highlighting the benefits of the product, Mr, Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance, said, “Cyber-attacks pose a serious threat wherein your money, reputation, and personal data is at stake. With this Digital Suraksha Group Insurance introduced on Flipkart’s platform, at less than 50 paise per day, you can protect yourself against the financial risk of getting defrauded online. During this COVID-19 era, as you shop online, this insurance will provide coverage against various cyber threats. Thus, making your online experience worry-free.”

Commenting on the new offering, Ranjith Boyanapalli, Head – Fintech and Payments Group, Flipkart, said, “At Flipkart, it is our constant endeavor to make online shopping safer and more convenient for customers transacting digitally. The cyber insurance offering in partnership with Bajaj Allianz is a step in this direction. As the festive season nears, we want to ensure that the customers’ online shopping experience, across any digital medium, is devoid of stress and apprehensions.”

A recent survey conducted by NortonLifeLock stated that about 80% of respondents reported being a victim of cybercrime at some point in their lives.

Now, with customers spending more time online for activities such as working, learning, gaming, entertainment, shopping, and transacting, they are more vulnerable than before to cyber-attacks, especially the ones which are directed at individuals.

Insurance products such as Digital Suraksha Group Insurance, provide consumers ease of mind and a strong tool to safeguard them from any new-age digital transaction risks that they might be exposed to.

Guided by the strong understanding of the needs of Indian consumers, Flipkart has, in recent months, introduced life, health, and motor insurance offerings, so that consumers can avail of these important financial services from the safety of their homes during the pandemic.

This has expanded the reach of these services to Flipkart’s large and growing pan-India consumer base of more than 250 million.

Flipkart is working with some of the leading insurance service providers in the country for providing access to customized and simplified plans based on the dynamic needs of Indian consumers.

UNI SJC AND

More News
India's core sector output rises to three-month high of 6 7 pc in February

India's core sector output rises to three-month high of 6 7 pc in February

28 Mar 2024 | 7:51 PM

New Delhi, Mar 28 (UNI) Driven primarily by coal, cement and crude oil production, India's core sector comprising of eight key infrastructure components grew 6.7% year-on-year in February 2024, as per data released by Ministry of Commerce and Industry on Thursday.

see more..

Honda Motorcycle & Scooter India achieves historic 6 cr domestic sales milestone

28 Mar 2024 | 7:19 PM

Mumbai, Mar 28 (UNI) Honda Motorcycle & Scooter India (HMSI) announced on Thursday that it has accomplished a historic achievement of 6 crore domestic sales in India. Honda ventured into the Indian market with its first two-wheeler, the Activa, in 2001.

see more..

28 Mar 2024 | 5:28 PM

UNI NK AKS.

see more..
Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

28 Mar 2024 | 5:16 PM

Rudrapur, Mar 28 (UNI) From power Back-up solutions to Batteries and Solar applications, Luminous Power Technologies on Thursday announced the launch of its state-of-the-art solar panel manufacturing facility here.

see more..

Kottayam-Kochi Rubber Market rates

28 Mar 2024 | 5:04 PM

Kottayam, Mar 28 (UNI) Following were the Rubber Market rates announced by the Rubber Board here on Thursday per quintal.

see more..
image