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Airtel Payments Bank, Bharti AXA tie up for 'shop insurance' for retailers
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SME Times News Bureau | 06 Aug, 2020
Airtel Payments Bank on Thursday
announced that it will offer 'shop insurance' for its retailers and
merchants in partnership with Bharti AXA General Insurance.
The
'Smart Plan Shop Package' policy provides financial protection in case
of damage to assets inside the shop due to fire and allied perils and
burglary among others as covered in the product, said a joint statement.
"Airtel
Payments Bank's partners can easily purchase this policy within minutes
through a fast, simple, and paperless process using the retailer and
merchant app offered by the bank. It also offers protection against
personal accident to the policyholder," it said.
In the event of
an accident leading to permanent disability, partial disability, or loss
of life, this ensures financial protection for the family.
The sum that can be insured would be flexible, starting from Rs 2 lakh up to a maximum of Rs 25 lakh.
Ganesh
Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank, said:
"Any damage to assets inside the shop due to an accident or natural
calamity can lead to a major financial setback in their lives. With the
launch of this affordable and comprehensive shop insurance product, we
aim to offer financial protection against such losses to our business
partners."
Sanjeev Srinivasan, Chief Executive Officer and
Managing Director, Bharti AXA General Insurance, noted that amid the
coronavirus pandemic, Indian retailers have already had to face many
hardships and uncertainties.
"To avoid further problems of a
different kind in future, it is vital to secure one's assets inside the
shop to stay alleviated from the dangers that they can be exposed to. We
shall always be committed to securing the interests of many such
retailers, who are unwaveringly committed to serving the nation," he
said.
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