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Airtel-Bharti AXA Life tie up for insurance with prepaid plan
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SME Times News Bureau | 23 Sep, 2019
As part of its strategy to
leverage the deep penetration of mobile services to build a financially
secure India, domestic telecom major Bharti Airtel has partnered with
Bharti AXA Life Insurance to offer prepaid plan with insurance
protection cover to all its customers across the country.
Airtel
has introduced its innovative Rs 599 prepaid bundle with 2GB data/day,
unlimited calls to any network and 100 SMS/day, and also offers Rs 4
lakh life insurance cover from Bharti AXA Life Insurance. The recharge
comes with a validity of 84 days and the insurance cover continues
automatically for three months with every recharge.
This prepaid
bundle with life insurance cover is currently available to customers
across Tamil Nadu and Pondicherry and its availability will be gradually
extended to pan-India in the next few months.
The innovative
prepaid bundle by Airtel and Bharti AXA Life Insurance combines Airtel's
deep distribution reach, including presence in rural pockets, with
Bharti AXA Life's expertise in insurance to make it very simple for
millions of uninsured and underinsured Indians to get a sizeable life
insurance cover every time they recharge their mobile phones.
"We
believe our network is a great platform to digitally deliver a range of
services and solve the problems of customers. We are delighted to
partner with Bharti AXA Life Insurance to roll out this innovative
offering and remove the barriers of price, access and payment
inconveniences for the adoption of life insurance in India. We remain
committed to building a digitally enabled and financially secure Tamil
Nadu and Pondicheery," said Manoj Murali, Hub CEO – Kerala and Tamil
Nadu, Bharti Airtel.
The life insurance cover, which is available
to all customers aged 18-54 years, requires no paperwork or medical
examination and the certificate of insurance will be instantaneously
delivered digitally. A physical copy of the insurance will be delivered
to customer's doorstep on request.
"We have always been at the
forefront of creating customer-centric protection products in the
industry. The strategic association with Airtel as a Group master
policyholder and Airtel's pan-India vast distribution network will boost
insurance penetration in the country. The introduction of term
insurance with every pre-paid recharge provides protection benefits to
consumers,'' said Vikas Seth, Managing Director and CEO, Bharti AXA Life
Insurance.
Airtel has engineered the entire process to be
delivered digitally in a matter of few minutes. A customer needs to
enrol for the insurance after first recharge through SMS, Airtel Thanks
App or the Airtel Retailer.
The partnership is expected to
further increase insurance penetration in India, given Airtel's
pan-India robust customer base. It leverages digital platforms and
Airtel's distribution reach, allowing people to get twin benefits of
prepaid plan and life insurance cover.
Notably, the insurance
penetration in India is less than 4 per cent (of the population) while
mobile penetration is close to 90 per cent. It is estimated that India
will have close to 830 million smartphone users by 2022.
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