Airtel Payments Bank Now Offers Two Wheeler Insurance

Bharti Airtel Group owned Airtel Payments Bank has partnered with Bharti AXA General Insurance to offer two wheeler insurance to its customers in India. Non Airtel Payments Bank customers too can avail this service, the company said in a statement.

In India, Airtel Payments Bank claimed, approximately 75 per cent two-wheelers are uninsured, despite being mandatory by law. This is because of the lack of reach and distributor interest in pursuing small-ticket premiums, even more so in rural India.

The company claimed that this two wheeler insurance product offers great value to customers, including up to 70% savings on annual premium, personal accident cover, protection against third-party liabilities and inspection free renewal through a fast, simple and paperless process. Customers can also avail towing services at no extra cost on claim intimation, in the event the insured vehicle breaks down.

The insurance is currently available on MyAirtel app and at over 40,000 Airtel Payments Bank – banking points, with presence even in rural India.

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.

Anubrata Biswas, Managing Director and Chief Executive Officer, Airtel Payments Bank, said. “We are delighted to partner with Bharti AXA General Insurance to launch an affordable and convenient two-wheeler insurance product. Our unique distribution network and digital assets allow us to reach millions of under-insured Indians. This partnership is one important step of many, in our journey towards offering a full suite of accessible, simple and easy to use financial solutions for an inclusive India.”

“We see immense opportunity in this association with Airtel Payments Bank and firmly believe that consumers will gain a great deal from our vehicle insurance schemes. The partnership shall provide us a humongous reach and help us expand our bandwidth by offering the cost-effective two-wheeler insurance to a wider audience across the country,” said Sanjeev Srinivasan, Managing Director and Chief Executive Officer, Bharti AXA General Insurance.

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