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Flipkart, Bajaj Allianz join hands to launch ‘Digital Suraksha Group Insurance’ to cover cyber frauds

Under Digital Suraksha Group Insurance, customers can choose for a one-year cover at premiums as low as Rs 183 for a cover of Rs 50,000.

SNS | New Delhi |

Flipkart and Bajaj Allianz General Insurance Company have joined hands to offer offer ‘Digital Suraksha Group Insurance’ to customers who want to protect themselves from cyber frauds and other similar malicious activities, the e-commerce major announced on Tuesday.

The insurance compensates for direct financial loss (up to the sum insured) due to unauthorised digital financial transactions as a result of identity theft arising out of cyber attacks, phishing/spoofing and SIM-jacking.

Under Digital Suraksha Group Insurance, customers can choose for a one-year cover at premiums as low as Rs 183 for a cover of Rs 50,000; Rs 312 for Rs 1 lakh; and Rs 561 for Rs 2 lakh for a 12-months tenure, with covers also extending up to Rs 10 lakh.

“As the festive season nears, we want to ensure that the customers’ online shopping experience, across any digital medium, is devoid of stress and apprehensions,” said Ranjith Boyanapalli, Head, Fintech and Payments Group, Flipkart.

The policy can be availed while buying certain models of mobiles, laptops, tablets, and audio devices on Flipkart.

The policy covers online transactions for debit cards, credit card, digital wallets, UPI/Internet banking (All bank accounts, credit and debit cards and mobile wallets), the company said in a statement.

“With this Digital Suraksha Group Insurance introduced on Flipkart’s platform, at less than 50 paise per day, you can protect yourself against the financial risk of getting defrauded online,” said Tapan Singhel, MD and CEO, Bajaj Allianz General Insurance.