Airtel Payments Bank, which has a network of 500,000 banking points, has launched its two wheeler insurance product in partnership with Bharti AXA General Insurance.
The two-wheeler insurance product offers up to 70 percent savings on premium, personal accident cover, protection against third-party liabilities and inspection free renewal through a paperless process. Customers can avail towing services at no extra cost on claim intimation, if the vehicle breaks down.
The insurance is available on MyAirtel app and at over 40,000 Airtel Payments Bank banking points.
Customers without an Airtel Payments Bank account may also avail this policy. Anyone may renew their two wheeler insurance within minutes at their nearest Airtel Payments Bank – banking point.
Airtel Payments Bank CEO Anubrata Biswas said: “Our distribution network and digital assets allow us to reach millions of under-insured Indians.”
India has approximately 75 percent uninsured two-wheelers, despite mandatory law. This is because of the lack of reach and distributor interest in pursuing small-ticket premiums.