Airtel Payments Bank has tied up with Bharti AXA General Insurance to offer two-wheeler insurance to its customers across India.
This insurance will be available on My Airtel app and at over 40,000 Airtel Payments Bank -- banking points, with presence even in rural India.
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. 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."
Notably, in India, 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. Sanjeev Srinivasan, Managing Director and Chief Executive Officer, Bharti AXA General Insurance said that the general insurer sees immense opportunity in this association with Airtel Payments Bank.
"We 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", he said.