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Airtel Payments Bank has entered into a partnership with Bharti AXA General Insurance to offer shop insurance to the bank’s retailers and merchants.
Under the strategic alliance, the Smart Plan Shop Package Policy provides financial protection in case of damage to assets inside the shop due to fire and allied perils and burglary, among others, as covered in the product.
A large number of thee bank’s retailers and merchants are small- and medium-size shop owners who are totally dependent on their shops for their livelihood.
Big financial loss
Any major accident because of fire or burglary can lead to a big financial loss. The shop insurance policy would provide financial protection against these losses.
“With the launch of this affordable and comprehensive shop insurance product, we aim to offer financial protection against such losses to our business partners,” said Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank.
Sanjeev Srinivasan, Bharti AXA General Insurance Managing Director and CEO, said: “We are happy about our partnership with Airtel Payments Bank to secure its retailers and merchants with our Smart Plan Shop Package Policy. Amidthe pandemic, retailers have already had to face many hardships and uncertainties. To avoid further problems of a different kind in the 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.”
The Smart Plan Shop Package Policy covers assets inside the shop against burglary, fire and allied perils such as flood, earthquake, landslide, rockslide, riots, strike and malicious damage, among others. It also covers the loss of money in safe because of an accident. The shop insurance has a flexible sum insured option, starting from ₹2 lakh up to a maximum of ₹25 lakh.
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