Thursday 16 May 2019

MobiKwik starts household goods insurance products

MobiKwik starts household goods insurance productsNew Delhi: Fintech firm MobiKwik has launched an insurance product to secure the contents of your home and protect them against mishaps. Priced at a premium of Rs 25 per month for a sum assured of Rs 2 lakh, this is product protects your home content such as TV, refrigerator, furniture, etc. from fire accidents caused by short circuits and gas leakages.

This is an instant policy in partnership with ICICI Lombard and requires no paper work, no inspection, and gives you the policy within 10 seconds, according to a release.

MobiKwik’s home insurance is a comprehensive cover that covers your home contents regardless of whether it’s an owned or rented property. As a user, all you need to do is pay the premium and enter your address and home contents to generate the policy instantly on your smartphone. Even the claim process is digitally driven, just as the buying happens through the MobiKwik app.

Commenting on the launch, Upasana Taku, co-founder MobiKwik, said “MobiKwik has pioneered sachet-size micro insurance in India by curating combination products at affordable prices and making them accessible to millions of Indians. The launch of the Home Insurance product is in sync with this strategy. The insurance journey is 2-clicks, fully digital, self-serve with the policy getting issued instantly on the MobiKwik app.”

MobiKwik started the insurance business at the end of 2018 and aims to issue more than 15,00,000 policies in the first year.

Bikram Bir Singh, Insurance - business head MobiKwik, further added, “By putting users at the center, and by leveraging data science and technology, MobiKwik intends to bring insurance products that provide comfort and functionality to users. We work with insurance partners to deliver customized products for different segments of users. This home insurance product was launched in partnership with ICICI Lombard and the company has already sold 1500 policies.”

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