Airtel Payments Bank offers Car Insurance in association with Bharti AXA General Insurance

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The policy provides protection against damage to the vehicle due to accident, theft, natural and man-made disaster

Can be easily purchased using a paperless, secure, and quick process through the banking section of the Airtel Thanks app

New Delhi, November 09, 2020: Airtel Payments Bank today announced that it will offer comprehensive car insurance in association with Bharti AXA General Insurance.

The Smart Drive Private Car Insurance offers financial protection against damage to the vehicle due to accident, theft, and natural & man-made disasters. It also compensates for injury or damages to another person or property caused due to a car accident.

The insurance comes with a personal accident cover for the policyholder. In the event of an accident leading to permanent disablement or loss of life, this ensures financial protection for the family.

Airtel Payments Bank’s customers can easily purchase this policy within five minutes using a paperless, secure, and quick process through the Airtel Thanks app. With no pre-inspection required, a customer only needs to fill in the details about the vehicle, and the insurance is immediately issued on their registered email id and mobile number.

At the time of the renewal, customers can choose from a wide range of add on covers. This includes depreciation cover, small consumable items, loss or replacement of car key, roadside assistance in the event of car breakdown, damage of engine or gearbox, medical expenses if the policyholder is injured, ambulance expense to reach the hospital, and many more.

Mr. Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank, said, “We endeavor to offer a bouquet of well-designed products to serve varied insurance requirements of our customers. Motor insurance being mandatory in the country constitutes an important requirement for millions of car users. We are delighted to partner with Bharti AXA General Insurance to offer this comprehensive car insurance.”

Mr. Sanjeev Srinivasan, Chief Executive Officer & Managing Director, Bharti AXA General Insurance, said, “We always look for creating eco-systems that help us improve reach of our insurance solutions. As part of our partnership with Airtel Payments Bank and strong synergies of customer-centricity, we are offering innovative motor insurance products to its customers through a seamless journey from the purchase to the claim process. The strategic alliance will also help us reach out to the growing customer base of the bank and secure them.”

Airtel Payments Bank Ltd.

Airtel Payments Bank is India’s first Payments Bank that launched in January 2017, now boasts of over 40 million+ customers and over 500K banking points across the country. In addition to having a presence in all 29 states of India, Airtel Payments Bank also has an app for Android and iOS users to make banking easier for its rural and urban customers. Airtel Payments Bank aims to take digital banking services to the doorstep of every Indian, particularly in unbanked rural areas, and contribute to the Government’s vision of Digital India and Financial Inclusion.

 Bharti AXA General Insurance Company Ltd.

Bharti AXA General Insurance is a joint venture between Bharti, one of India’s leading business groups with interests in telecom, agriculture business and retail, and AXA, one of the world’s leading organizations with interests in financial protection and wealth management. The joint venture company has a 51% stake from Bharti and 49% stake of AXA. The company has pan-India presence through its 167 branches and offers insurance solutions for motor and two- wheeler, health and critical illness, property and student, individual and family travel.