Airtel Payments Bank yesterday announced its tieup with Bharti AXA General Insurance to offer shop insurance exclusively for its retailers and merchants which will provide financial protection in case of damage to the assets inside the shop.
The insurance will cover damage to the assets including fire and allied perils, burglary, etc. There are a large number of bank’s retailers and merchants and medium-sized shop owners who are dependent on the shops for their livelihood. The shop insurance policy will provide protection against any untoward incident that could cause big financial loss.
The bank’s partners can easily get the policy within minutes through a simple process using the retailer or merchant app with the policy also offering protection against personal accident. Incase of permanent or partial disablement, or loss of life caused by an accident then the policy will ensure financial protection for the family.
The flexible sum insured starts at Rs 2 lakhs with a maximum of Rs 25 lakhs while the protections protect the complete assets within the shop including the loss of money.
Mr. Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank, said, “Our partners are key enablers for our business and protecting them is of the utmost importance for Airtel Payments Bank. Shops of our business partners are the primary source of their income. Any damage to assets inside theshop 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.”
Mr. Sanjeev Srinivasan, Chief Executive Officer& Managing Director, Bharti AXA General Insurance, said “We recognize the retailers and shopkeepers of our country as the wheels that steer the nation’s cumulative success forward. We are very happy on this association with Airtel Payments Bank to secure its retailers and merchants with our Smart Plan Shop Package Policy. Amidst the 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 shopto 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.”