Flipkart, India’s biggest online store situated in Bangalore, Karnataka, India, founded in 2007, and Bajaj Allianz General Insurance Company, a private general insurance company, headquarters located in Pune, Maharashtra have come together to provide ‘Digital Suraksha Group Insurance’ for the customer who wants to cover themselves against financial losses caused as a result of cyber-attacks, cyber frauds, or other such harmful activities across various online platforms.
A joint statement stated that this 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. The statement also added that customers can opt for a one-year cover at premiums as low as ₹183 for a cover of ₹50,000. Tapan Singhel, MD, and CEO, Bajaj Allianz General Insurance speaking on the cyber insurance plan covering online financial frauds mentioned that by the introduction of Digital Suraksha Group Insurance on Flipkart’s platform, less than 50 paise per day, people can protect themselves against the financial risk of getting cheated online.
Ranjith Boyanapalli, Head, Fintech, and Payments Group at Flipkart mentioned that as the festive season coming up, people want to ensure that the customer’s online shopping experience, across any digital medium, is lacking stress, and apprehensions. The cyber security policy details that the customer can choose for a one-year cover at premiums as low as ₹ 183 for a cover of ₹ 50,000, ₹ 312 for ₹100,000, and ₹ 561 for ₹ 2 00,000 for a 12-months title, with covers, also extending up to ₹10, 00,000. The policy can be assisted while buying various models of mobiles, laptops, tablets, and audio devices on Flipkart. This cover repays for direct financial loss. The declaration is permissible if a loss of funds is reported within 90 days of the occurrence and multiple claims/incidents are covered up to the sum assured. The policy also offers worldwide cover, and provides protection while traveling internationally.
