Airtel Payments Bank announced that it will offer Shop Insurance exclusively for its Retailers and Merchants. Offered in partnership with Bharti AXA General Insurance, the Smart Plan Shop Package policy provides financial protection in case of damage to assets inside the shop due to fire and allied perils, burglary, etc. as covered in the product.
A large number of Bank’s Retailers and Merchants are small and medium-size shop owners who are totally dependent on their shops for the livelihood. Any major accident due to fire or burglary can lead to a big financial loss. The shop insurance policy would provide financial protection against these losses.
Airtel Payments Bank’s partners can easily purchase this policy within minutes through a fast, simple, and paperless process using the retailer and merchant app offered by the Bank. It also offers protection against personal accident to the policyholder. In the event of an accident leading to permanent disablement, partial disablement, or loss of life, this ensures financial protection for the family.
- Complete Protection:Covers assets inside the shop against burglary, fire and allied perils, like flood, earthquake, landslide, rockslide, riots, strike, malicious damage, etc. It also covers the loss of money in safe because of an accident.
- Flexible Sum Insured: Starting from Rs 2 Lakhs upto a maximum of Rs 25 lakhs.
Mr. Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank, said, “Our partners are key enablers for our business and protecting them is of the utmost importance for Airtel Payments Bank. Shops of our business partners are the primary source of their income. Any damage to assets inside the shop due to an accident or natural calamity can lead to a major financial setback in their lives. With the launch of this affordable and comprehensive shop insurance product, we aim to offer financial protection against such losses to our business partners.”
Mr. Sanjeev Srinivasan, Chief Executive Officer& Managing Director, Bharti AXA General Insurance, said “We recognize the retailers and shopkeepers of our country as the wheels that steer the nation’s cumulative success forward. We are very happy on this association with Airtel Payments Bank to secure its retailers and merchants with our Smart Plan Shop Package Policy. Amidst the pandemic, Indian retailers have already had to face many hardships and uncertainties. To avoid further problems of a different kind in future, it is vital to secure one’s assets inside the shop to stay alleviated from the dangers that they can be exposed to. We shall always be committed to securing the interests of many such retailers, who are unwaveringly committed to serving the nation.”