Airtel Payments Bank has partnered ICICI Lombard General Insurance Company to offer insurance solutions against cybercrimes and financial frauds to its customers, which can be purchased from the Airtel Thanks app.
The solution from ICICI Lombard provides financial protection to customers against potential financial cyber frauds related to banking, credit, or debit card as well as protection against identity theft, phishing, email spoofing, and others.
Sanjeev Mantri, Executive Director, ICICI Lombard, said, “We are excited to partner with Airtel Payments Bank as this tie-up will assert the company’s pledge to provide innovative new-age risk solutions to our customers to prevent cyber-attacks exploding in the era of digital transformation.”
The insurance comes with a zero waiting period, allowing customers to make multiple claims within the policy tenure and within the limits of insured amount opted for. The policy will provide a 90-day discovery period, followed by a seven-day reporting period.
This means that if the insured discovers an unauthorized transaction processed from their card or account on the 90th day from the transaction date, they can still report it in the next seven days to the issuing bank or mobile wallet company.
Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank, said, “We are pleased to partner with ICICI Lombard to offer this product to our customers. It is an important addition to our existing bouquet of simple, secure and value-driven solutions, and we hope our users will seek the advantage of this unique offering.”
