Flipkart, and Bajaj Allianz General Insurance Company, have jointly launched ‘Digital Suraksha Group Insurance’ for customers who want to cover themselves against financial losses caused as a result of cyber-attacks, cyber frauds, or other such malicious activities across various online platforms.
The Digital Suraksha Group 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. Customers can opt for a one-year cover at premiums as low as Rs. 183 for a cover of Rs. 50,000.
Highlighting the benefits of the product, Mr, Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance said, “Cyber-attacks pose a serious threat wherein your money, reputation, and personal data is at stake. With this Digital Suraksha Group Insurance introduced on Flipkart’s platform, at less than 50 paise per day, you can protect yourself against the financial risk of getting defrauded online. During this COVID-19 era, as you shop online, this insurance will provide coverage against various cyber threats. Thus, making your online experience worry-free.”
Commenting on the new offering, Ranjith Boyanapalli, Head – Fintech and Payments Group, Flipkart, said, “At Flipkart, it is our constant endeavor to make online shopping safer and more convenient for customers transacting digitally. The cyber insurance offering in partnership with Bajaj Allianz is a step in this direction. As the festive season nears, we want to ensure that the customers’ online shopping experience, across any digital medium, is devoid of stress and apprehensions.”
A recent survey conducted by NortonLifeLock stated that about 80% of respondents reported being a victim of cybercrime at some point in their lives. Now, with customers spending more time online for activities such as working, learning, gaming, entertainment, shopping, and transacting, they are more vulnerable than before to cyber-attacks, especially the ones which are directed at individuals. Insurance products such as Digital Suraksha Group Insurance, provide consumers ease of mind and a strong tool to safeguard them from any new-age digital transaction risks that they might be exposed to.
Pricing
Customers can get a cover of Rs. 50,000 (for a premium of Rs. 183), Rs.1,00,000 (for a premium of Rs. 312) and Rs.2,00,000 (for a premium of Rs. 561), for a 12-months tenure, with covers also extending up to Rs. 10,00,000
