Airtel Payments Bank Launches two wheeler Insurance in Partnership with Bharti AXA General Insurance

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AIRTEL PAYMENTS BANK LAUNCHES TWO WHEELER INSURANCE IN PARTNERSHIPWITH BHARTI AXA GENERAL INSURANCE

 Offersmarket leading benefits ofupto 70% savings on premium, inspection free renewal and ‘no extra cost’ towing services upon claim.

Partnership aimed at increasing the penetration for twowheeler insurance in the country

  • Product available on MyAirtel App & at over 40,000 Airtel Payments Bank points across India during the first phase of launch

Airtel Payments Bank today announcedthe launch of an attractivetwo wheeler insurance productin association with Bharti AXA General Insurance.

This two wheeler insurance product offers great value to customers, including up to 70% savings on annual premium, personal accident cover, protection against third-party liabilities and inspection free renewalthrough a fast, simple and paperless process.Customers can also avail towing services at no extra cost on claim intimation, in the event the insured vehicle breaks down.

The insurance is currently available on MyAirtel app and at over 40,000 Airtel Payments Bank – banking points, with presence even in rural India, thus making it extremely convenient for customers to insure their two wheelers against any damage or theft.

Customerswithout an Airtel Payments Bank account may also avail this policy.Anyonemayrenew their two wheeler insurance within minutesat their nearest Airtel Payments Bank – banking point.

Mr. Anubrata Biswas, Managing Director and Chief Executive Officer, Airtel Payments Bank, said.

“We are delighted to partner with Bharti AXA General Insurance to launchan affordable and convenient two-wheeler insurance product. Our unique distribution network and digital assets allow us to reach millions of under-insured Indians. This partnership is one important step of many, in our journey towards offering a full suite ofaccessible, simple and easyto use financial solutions for an inclusive India.”

Notably, in India, approximately 75 per cent two-wheelers are uninsured, despite being mandatory by law. This is because of the lack of reach and distributor interest in pursuing small-ticket premiums, even more so in rural India.

Airtel Payments Bank Launches two wheeler Insurance in Partnership with Bharti AXA General Insurance

Mr. Sanjeev Srinivasan, Managing Director and Chief Executive Officer, Bharti AXA General Insurance, said, “We see immense opportunity in this association with Airtel Payments Bank and firmly believe that consumers will gain a great deal from our vehicle insurance schemes. The partnership shall provide us a humongous reach and help us expand our bandwidth by offering the cost-effective two-wheeler insurance to a wider audience across the country.”

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