The insurance is currently available on MyAirtel app and at over 40,000 Airtel Payments Bank banking points.
Airtel Payments Bank today launched a new two-wheeler insurance product in partnership with Bharti AXA General Insurance.
This two wheeler insurance product offers 70 percent savings on annual premium, personal accident cover, protection against third-party liabilities and inspection-free renewal. Customers can also avail towing services at no extra cost on claim intimation, in the event the insured vehicle breaks down.
Sanjeev Srinivasan, MD & CEO, Bharti AXA General Insurance said that the partnership would provide the company a wider reach and help it expand the bandwidth by offering two-wheeler insurance to a wider audience across the country.
The insurance is currently available on MyAirtel app and at over 40,000 Airtel Payments Bank banking points. Customers without an Airtel Payments Bank account can also buy this policy.
Anubrata Biswas, MD & CEO, Airtel Payments Bank said, “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.”
At present, approximately 75 percent two-wheelers are uninsured (for third party segment) 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.
A Supreme Court order in 2018 made it mandatory for individuals to buy a five-year motor third-party insurance while buying a new two-wheeler.