ICICI Lombard partners with Mobikwik to offer an affordable
online fraud protection policy
ICICI Lombard, one of India’s leading
private sector non-life insurance company in India, and Mobikwik, one of
India’s largest digital
financial services platform, today announced a
strategic partnership to provide cyber-insurance cover.
The relationship aims
to provide protection against unauthorized and fraudulent transactions online,
across bank accounts, debit/credit cards and mobile wallets. The
cyber-insurance can be availed digitally through the app at only Rs. 99/ month
and with a sum insured of Rs.50,000.
Digital wallets aka e-wallets or mobile wallets, are in
vogue currently given a growing population is going ‘cashless’. With the
adoption of cashless transactions on the rise, it is but natural that the cyber
threat landscape also magnifies. There are millions of transactions that take
place every month on the MobiKwik wallet.
MobiKwik users can avail the Commercial Cyber Insurance
policy underwritten by ICICI Lombard and enjoy the benefit of a stress-free and
secured transaction for its users who opt for this cover. This strategic cyber
insurance product has been intelligently designed to provide the users with 360
degree insured security of their multiple
bank accounts, debit and credit cards and mobile wallets. MobiKwik users can
enroll under this insurance product at the time of loading money into their
wallet or in a standalone format, as per their wish. They can avail the cover
digitally with an instant policy issuance. Additionally, the claims can be
lodged digitally.
On the tie-up, Sanjeev
Mantri, Executive Director, ICICI Lombard said, “We have always been ahead
of the curve and introduced unique solutions at attractive price points. With
the introduction of mobile wallets, transactions have become far more effective
and convenient. But, these online transactions expose users to a new class of
risks. Cyber-insurance thereby becomes imperative to provide customers protection against any kind of data
security breach. This relationship with MobiKwik further strengthens ICICI Lombard’s
endeavor to provide innovative and unique products against the new-age risks
and cater to the needs of the customers of our business associates.”
Commenting on the launch, Upasana Taku, Co-founder and
Director, MobiKwik said, “We have always been a trendsetter and launched innovative products in line with the
customer requirements. We are the first mobile wallet company to avail cyber insurance
for its customers. This product was the need of the hour in today’s digital era
wherein a number of individuals prefer
doing their financial transactions online. This is a category that has been
untouched upon and is a promising one, with the rise in the adoption of digital
payments, across cities and towns. We are committed to offering stress-free
transactions not only on MobiKwik but
also across all other banking and non-banking platforms, used by our customers.
We have partnered with ICICI Lombard General Insurance for this product and are
confident that this differentiated product will further enable more users to
trust digital payments and will use them more actively, without any fear. We
are committed to bring in many more innovative and affordable products to
address the requirements of millions of Indians.”
About ICICI
Lombard General Insurance Company Ltd.
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ICICI Lombard GIC Ltd.
Seema Jadhav
Tel: 022
61961578
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Mobikwik
Akansha Jain
Tel: +91
9871900447
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Offer customers a comprehensive and well-diversified range of products, including motor, health, crop, fire, personal accident, marine, engineering and liability insurance, through multiple distribution channels.
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