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Airtel Payments Bank launches two wheeler insurance product with Bharti AXA General Insurance

4/20/2019

New Delhi, Airtel Payments Bank on Friday announced the launch of an attractive two wheeler insurance product in association with Bharti AXA General Insurance. "This two wheeler insurance product offers great value to customers, including up to 70 percent savings on annual premium, personal accident cover, protection against third-party liabilities and inspection free renewal through a fast, simple and paperless process," a company release said. 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. Customers without an Airtel Payments Bank account may also avail this policy. Anyone may renew their two wheeler insurance within minutesat their nearest Airtel Payments Bank - banking point. 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 of accessible, simple and easy to 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. 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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