E-commerce giant Flipkart said that it is entering into the insurance segment after they secured a corporate agent license.  Flipkart said in a statement that they have team-up with Bajaj Allianz General Insurance to offer customised insurance for its mobile phone protection programme for all leading mobile phone brands that are sold on its platform.

Flipkart stated that under the programme, they will offer both cash payout option or free pick up, service and drop convenience to customers. The insurance initial offering will begin from October 10, the start of Flipkart’s The Big Billion Days (TBBD).

Flipkart senior vice president and head of Fintech Ravi Garikipati said, “In line with our customer-first policy and as the market leader in this segment, insurance felt like the logical next step in providing consumers with excellent after-sales care for their phones. The plan, from purchase to claim, will be completely integrated into our online platform.”

The statement also added that the cover period for the insurance will be for a year, covering screen, accidental, and liquid damage along with theft of the protected mobile phones.

Customers can purchase the mobile insurance at the same time as they buy the mobile phone for Rs. 99 onwards and the policy will be activated from the day of delivery.

The statement further described that the customer can reach out to Flipkart via the app, email, or phone call in order to file a claim and will have a choice between returning the phone for fixing or opting for a cash payout (which will be deposited into the customer’s choice of bank account).

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