Flipkart, India’s largest e-commerce marketplace, is foraying into insurance after securing a corporate agent license. To start with Flipkart will offer customised insurance solutions to power its Complete Mobile Protection (CMP) program for all leading mobile brands being sold on its platform in partnership with Bajaj Allianz General Insurance. The insurance will be available from October 10th, the start of Flipkart’s The Big Billion Days (TBBD).
According to Flipkart, CMP intends to instill post purchase assurance in the minds of customers, which is primarily considered a huge barrier to get offline customers to buy mobiles online. Designed to give complete protection against a variety of perils and damages, internal & external, the insurance will be valid for a year, covering accidental, screen, and liquid damage along with theft.
Customers will be able to purchase the insurance powered Complete Mobile Protection plan at the same time as they buy the mobile phone, at a nominal price point starting from Rs. 99. Once the customer shares the required details at checkout, the policy will be activated from the day of delivery.
The claims have also been simplified, where the customer will reach out to Flipkart via the app, email, or phone call and will have a choice between returning the phone for fixing or opting for a cash payout which will then be deposited in their Flipkart-registered bank account or any other account owned by the customer.
